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

0830 - NY Fed manufactuing for December: Expected 10; Prior 31.2
0945 - S&P composite PMI flash for December: Expected 55.1; Prior 54.9
0945 - S&P services PMI flash for December: Expected 55.8; Prior 56.1
0945 - S&P manufacturing PMI flash for December: Expected 49.5; Prior 49.7

Crypto Stocks

+2.35%

Trading higher as a group after Bitcoin made new all-time highs near $106,500 on Sunday evening. The rally has been attributed by some to expectations of a 25-bp rate cut at the December FOMC meeting on Wednesday. Bitcoin has pared some of its gains, trading around $103,700 on Monday morning; Ethereum is trading just above $3,900.

COIN, MARA, RIOT, IBIT, ETHE, HUT, CLSK, IREN, CAN, HIVE

MicroStrategy, Palantir, and Axon Enterprise

+1.94%

All three stocks are being added to the Nasdaq-100 Index as of December 23, 2024 before the opening bell. MicroStrategy is trading sharply higher on the announcement, Axon is up roughly 2.5%, and Palantir is trading lower premarket. Palantir’s shares spiked in overnight trading on Sunday night after some of its key executives, including CTO Shyam Sankar and founder Joe Lonsdale, were seen alongside politicians at the Army-Navy football game.

MSTR, PLTR, AXON

Tesla Inc (TSLA)

+0.82%

Trading higher premarket following positive analyst notes from Wedbush and Truist. Wedbush analyst Dan Ives raised Tesla’s price target from $400 to $515, citing the potential for the Trump administration to drive growth in autonomous and AI initiatives. He also highlighted Tesla’s potential to reach a $2 trillion market cap by the end of 2025. Truist, meanwhile, raised its price target for the stock from $238 to $360, though the analyst cited caution due to elevated risks tied to unproven businesses.

Apple Inc (AAPL)

+0.14%

On watch after the Wall Street Journal reported that the company is planning to launch foldable iPhones and ultralight devices by 2026, including a thinner, more affordable iPhone with a simplified camera system. The foldable lineup will reportedly feature a smaller foldable iPhone and a larger 19-inch device, though challenges in hinge and display technology may delay the timeline. Separately, Jefferies analysts noted that they expect Apple to introduce more aggressive discounts in China in Q1 2025 to stimulate demand.

Super Micro Computer Inc (SMCI)

-14.40%

Gapping down following the announcement that it is being removed from the Nasdaq-100 Index, effective as of Monday, December 23, 2024 before the opening bell; Illumina and Moderna are also set to be removed from the index. This announcement follows a tumultuous period for the company, which was added to the Nasdaq in June 2024. Super Micro has yet to file its forms for its FY 2024 and Q1 2025 earnings reports, though they have received an extension from the Nasdaq for those filings.

Marvell Technologies, Broadcom, and Micron

+3.09%

All three semiconductor stocks are trading higher premarket. Marvell announced a $0.06-per-share quarterly dividend after the bell on Friday, to be paid out on January 30, 2025. Broadcom is continuing to trade higher after reaching a $1 trillion market cap on Friday, when the stock recorded its best-ever trading day after reporting Q4 2024 earnings. Micron, meanwhile, is scheduled to report earnings after the bell on Wednesday.

MRVL, AVGO, MU

Ford Motor Co (F)

-1.92%

Trading lower premarket after Jefferies downgraded the stock from Hold to Underperform, lowering its price target from $12 to $9. The analyst attributed the downgrade to rising inventory levels, weak gross profit margins, and strategic uncertainties, including potential market exits and electrification plans. Despite solid U.S. sales growth and a robust balance sheet, Jefferies noted that issues like structural cost deficits and uncertain regulatory relief raise doubts as to Ford's cash generation for shareholders.

Nuclear and Quantum Stocks

-2.68%

Trading lower as a group with volume amid a period of heightened volatility. The stocks traded sharply higher in early November following the election of Donald Trump as U.S. President but have since pulled back, though some tickers in the space rallied last week after Google announced its quantum computing chip.

RGTI, NNE, IONQ, SMR, QUBT, QBTS, QCMO, OKLO

Red Cat Holdings Inc (RCAT)

+10.33%

Trading sharply higher premarket after announcing a partnership with Palantir. The collaboration will allow Red Cat to integrate Palantir's AI-driven Visual Navigation (VNav) software and Warp Speed manufacturing OS into its Black Widow drones. The company is set to report earnings after the bell on Monday, December 16. Approximately 12.05% of the stock’s float is sold short.

Sidus Space Inc (SIDU)

+66.43%

Gapping up on no apparent catalyst. The stock, which has rallied in the past, has a float of 3.97 million shares and a market cap of $20.46 million.