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

0830 - Housing starts for November: Expected 1.345M; Prior 1.311M
0830 - Building permits (prelim) for November: Expected 1.43M; Prior 1.419M
1400 - Fed interest rate decision: Expected 4.5%; Prior 4.75%
1430 - FOMC press conference with Fed Chair Jerome Powell

NVIDIA Corp (NVDA)

+2.88%

Trading higher premarket after tech consultancy firm Omdia reported that Microsoft has acquired approximately 485,000 “Hopper” AI chips this year. That number is nearly double the amount purchased by Meta Platforms. This strategic investment aligns with Microsoft's $13 billion partnership with OpenAI and reflects the growing demand for Nvidia GPUs among tech giants expanding their AI infrastructure.

Tesla Inc (TSLA)

-1.78%

Pulling back amid a multi-day rally that has seen the stock hit new all-time highs on an almost-daily basis. Baird raised its price target for the stock from $280 to $480 due to optimism around regulatory boosts for the Cybertruck, cost reductions, and new affordable models expected in early 2025. Separately, Bloomberg reported that Tesla's Vice President of Manufacturing at Gigafactory Shanghai, Song Gang, is leaving the company this week.

Crypto Stocks

-1.04%

Trading lower as a group in tandem with a pullback in Bitcoin. The cryptocurrency made new highs above $108,000 on Tuesday morning but struggled to hold that level. Bitcoin traded as low as $103,250 early on Wednesday morning but is currently trading just below $105,000; Ethereum is trading just below $3900.

MARA, IBIT, ETHE, COIN, MSTR, CLSK, RIOT, HIVE, CAN, BTBT, BTDR

Rivian Automotive Inc (RIVN)

-0.82%

Trading lower premarket after being downgraded by Baird. The analyst lowered its rating for Rivian from Outperform to Neutral and cut its price target from $18 to $16. The downgrade was attributed to concerns about “sluggish” vehicle sales, especially in light of the incoming Trump administration.

Micron Technology Inc (MU)

+1.46%

Trading higher premarket with volume ahead of its Q1 2025, earnings report, scheduled for after the bell on Wednesday, December 18. Wedbush expects the company’s results to fall in line with or exceed analyst estimates for for the quarter, though they noted that a beat is less likely for Q2. Rosenblatt maintained its $250 price target and Buy rating for the stock ahead of the report.

General Mills (GIS)

-3.87%

Trading lower premarket after its earnings report. The company reported adjusted earnings of $1.40 and sales of $5.24 billion, above estimates of $1.22 and $5.14 billion, respectively. General Mills lowered its EPS growth guidance for FY25 from +1% to -1% to -1% to -3%. The company’s organic net sales guidance was also lowered, attributed to an uptick in promotional investment.

Block Inc (SQ)

+0.81%

On watch after Bernstein issued a positive note on the top, calling it the firm’s “new best idea'“ and maintaining an Outperform and a $120 price target. The analyst highlighted Block’s underappreciated Bitcoin initiatives, including Cash App Bitcoin Exchange, mining hardware, and Bitkey, a self-custody wallet recognized as a top invention by Time. Bernstein believes that the company is currently undervalued at 26x 2026 GAAP P/E, supported by strong cash flow generation and innovation potential.

Quantum Stocks

-2.24%

On watch amid a period of increased volatility, which started after the election on November 5 and increased when Alphabet announced its quantum computing chip. Rigetti Computing (RGTI) is seeing an especially strong influx of premarket volume. Meanwhile, Quantum Computing (QUBT) and Quantum-Si (QSI) are trading sharply higher premarket; Quantum Computing rallied on Tuesday after receiving a prime contract from NASA.

RGTI, IONQ, QUBT, QSI, QBTS

Oklo Inc (OKLO)

+13.56%

Gapping up after partnering with Switch on a 12-gigawatt Master Power Agreement, marking one of the largest corporate power deals in history to advance sustainable energy and decarbonize data centers. Oklo's Aurora powerhouses will supply clean, reliable nuclear energy to support Switch's AI, cloud, and enterprise data center growth. Roughly 17.26% of Oklo’s float is sold short.

Polyrizon Ltd (PLRZ)

+214.29%

Gapping up after announcing a partnership with Eurofins CDMO Amatsiaquitaine, a GMP-certified manufacturer, to produce its PL-14 allergy blocker for a clinical trial planned in 2025. This collaboration ensures timely production with large-scale commercial capabilities, supporting Polyrizon's future commercialization efforts. The company has a market capitalization of approximately $13.4 million.