^{_{Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.}}

0830 - Nonfarm payrolls for July: Expected 104k; Prior 147k
0830 - Unemployment rate for July: Expected 4.2%; Prior 4.1%
0830 - Average earnings y/y for July: Expected 3.8%; Prior 3.7%
0945 - S&P manufacturing PMI for July: Expected 49.7; Prior 49.5
1000 - University of Michigan consumer sentiment for July: Expected 62; Prior 61.8
1000 - UMich 1yr inflation expectations for July: Expected 4.4%; Prior 4.4%
1000 - UMich 5yr inflation expectations for July: Expected 3.6%; Prior 3.6%

Amazon.com Inc (AMZN)

-7.77%

Gapping down after its Q2 2025 earnings report. The company posted earnings of $1.68 per share and sales of $167.7 billion, beating estimates of $1.30 and $161.87 billion, respectively. Revenue in the Amazon Web Services segment was reported at $30.87 billion, narrowly beating estimates of $30.8 billion. Amazon guided Q3 sales between $174 billion and $179.5 billion, beating estimates of $172.76 billion. The company guided operating income between $15.5 billion and $20.5 billion for the same period, compared to estimates of $19.48 billion.

Apple Inc (AAPL)

+1.66%

Trading higher premarket after reporting Q3 2025 earnings, with sales of $94 billion and earnings of $1.57 per share exceeding expectations of $89.041 billion and $1.42, respectively. iPhone sales grew by 13.5% year-over-year to reach $44.58 billion, well above estimates of $40.22 billion. Revenue in both the products and services categories grew on a year-over-year basis. CEO Tim Cook indicated that the company is “open to M&A” that could help Apple accelerate as traders and investors continue to wait for the company to make major strides in AI.

Figma Inc (FIG)

+21.39%

Gapping up following a stellar $1.2 billion IPO on Thursday. The stock began trading at $85, well above its IPO price of $33 and the expected range of $31 to $32, and reached an intraday high above $124. Figma’s market cap had reached nearly $68 billion by the end of its first session of trading.

Big Tech and Semiconductors

-1.46%

Trading lower as a group after US President Donald Trump announced significant new tariffs on 69 countries, escalating global trade tensions primarily over fentanyl trafficking, national security, and relations with China. Canada’s tariffs will notably increase from 25% to 35%. Brazil, India, Taiwan, and Switzerland also see substantial new tariffs ranging from 20% to 50%. These announcements came hours before the new reciprocal tariff rates came into effect on August 1, 2025.

NVDA, GOOGL, MSFT, META, AMD, SMCI, ARM, AVGO

Reddit Inc (RDDT)

+15.08%

Gapping up after its Q2 2025 earnings report. Sales of $499.6 million and earnings of $0.45 per share significantly outpaced estimates of $424.73 million and $0.19, respectively. Revenue grew by 78% on a year-over-year basis, with daily active unique users increasing by 21%. The company guided Q3 sales between $535 million and $545 million, well above estimates of $471.49 million.

Strategy, Coinbase, and Riot Platforms

-4.33%

All three of these crypto-adjacent tickers are trading lower premarket after reporting quarterly earnings on Thursday afternoon. Strategy reported an EPS and revenue beat and guided better-than-expected GAAP earnings for the fiscal year; revenue in its product support and other services categories declined on a year-over-year basis. Coinbase, meanwhile, is gapping down after reporting adjusted earnings of $0.12 per share and sales of $1.497 billion, missing estimates of $1.35 and $1.687 billion, respectively. Riot posted an unexpected quarterly profit and a revenue beat but is nonetheless poised to open sharply lower.

MSTR, COIN, RIOT

Chinese ADRs

-2.32%

Trading lower as a group following US President Trump’s announcement of further global tariffs. The tech-heavy Hang Seng Index closed 1.07% closer in overnight trading, and the CSI 300 Index declined by 0.51%. Other Asian markets, including South Korea and Japan, experienced similar declines following the tariff news.

BABA, BIDU, BILI, PDD, JD, LI, NIO, XPEV, FXI, KWEB

Palantir Technologies Inc (PLTR)

-1.58%

On watch after the US Army announced that it has consolidated multiple contracts with the company into a single enterprise agreement. This agreement, which could be worth up to $10 billion over a ten-year period, will help the Army secure volume discounts and accelerate deployment of data integration and AI tools. However, the deal does not obligate the Army to make any additional purchases.

Tesla Inc (TSLA)

-0.61%

The company’s car sales in Sweden, Denmark, and France dropped for the seventh consecutive month in July amid regulatory hurdles and increasing competition from lower-cost European and Chinese EV brands. French sales dropped by 27% year-over-year, while sales in Denmark and Sweden decreased by 52% and 86%, respectively. Tesla is attempting a rebound with a revamped Model Y and an upcoming cheaper model, although its production ramp-up has been delayed to next quarter.

Moderna Inc (MRNA)

-6.43%

Gapping down following its Q2 2025 earnings report. The company reported losses of $2.13 per share, narrower than the expected loss of $2.98 per share, with sales of $142 million outpacing the expected $116.34 million. Moderna narrowed its sales guidance for the fiscal year from $1.5 billion-$2.5 billion to $1.5 billion to $2.2 billion, compared to estimates of $2.093 billion, and guided operating expenses between $5.9 billion and $6.1 billion for the same period.

Hims & Hers Health (HIMS)

-5.86%

The Washington Post reported that the Trump administration plans to test Medicare and Medicaid coverage for weight-loss drugs, potentially expanding access to popular GLP-1 medications like Ozempic and Wegovy from Novo Nordisk, and Mounjaro from Eli Lilly. The initiative, should it come to pass, could provide customers with more affordable access to brand-name GLP-1s without having to rely on companies like Hims & Hers.

BioXcel Therapeutics Inc (BTAI)

+31.30%

Gapping up after announcing that the last patient visit in its SERENITY trial has been completed. The stock, which has rallied in the past, has a float of 5.5 million and a short float of 6.4%.