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

0830 - Chicago Fed national activity index for November: Expected -0.15; Prior -0.4
1000 - CB consumer confidence for December: Expected 113; Prior 111.7

Semiconductors

+0.82%

On watch as a group after the Biden administration announced a "Section 301" trade investigation into Chinese-produced legacy semiconductors, potentially leading to increased U.S. tariffs on these components used in consumer and industrial products. Set to transition to President-elect Donald Trump's administration, the probe aims to counter China's state-driven semiconductor expansion and could enable Trump to pursue his proposed 60% tariffs on Chinese imports.

NVDA, AMD, MU, MRVL, SMCI, AVGO, SMH

Arm Holdings PLC (ARM)

-3.29%

Trading lower premarket after the conclusion of the company’s lawsuit against Qualcomm. The lawsuit concerned alleged breaches of a licensing agreement tied to Qualcomm's $1.4 billion acquisition of Nuvia. The jury found that Qualcomm did not breach any license agreements with Arm by selling Nuvia chips, allowing Qualcomm to continue selling chips using Nuvia’s technology under existing licenses. A mistrial was declared with regards to whether or not Nuvia broke its license agreement with Arm.

Tesla Inc (TSLA)

+2.20%

Trading higher premarket with volume. On Saturday, Tesla researcher “Troy Teslike” warned that the company could face a drop in U.S. deliveries if the $7,500 federal tax credit for EV purchases is eliminated. Teslike likened the potential drop to sales declines seen in France and Germany after similar subsidies were withdrawn. Elon Musk has downplayed the potential impact of the tax credit elimination on Tesla, noting it could harm competitors more.

Rumble Inc (RUM)

+43.67%

Gapping up after the company announced a $775 million strategic investment from Tether, which involves purchasing 103.33 million shares of Rumble Class A Common Stock at $7.50 per share. Rumble plans to allocate $250 million to growth initiatives and use the remainder for a self-tender offer. The deal is expected to close in Q1 2025 and will allow Rumble to maintain its current governance structure. Approximately 21.4% of the company’s float is sold short.

Crypto Stocks

-0.51%

Trading marginally lower as a group in tandem with weakness in Bitcoin. The cryptocurrency closed higher on Friday and nearly breached the $100,000 level on Saturday before drifting lower. As of Monday morning, Bitcoin is trading just above the $96,000 level.

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

Honda Motor Co Ltd (HMC)

+15.78%

Gapping up after announcing potential merger with Nisaan Motor. The companies aim to form a joint holding company listed on the Tokyo Stock Exchange by August 2026, with both firms delisting thereafter. The merger seeks to boost combined sales revenue to over ¥30 trillion (~$191 billion) and operating profits to more than ¥3 trillion. According to the announcement, Mitsubishi Motors is also considering participation; Nisaan holds shares in Mitsubishi.

Novo Nordisk A/S (NVO)

+5.36%

The company’s US-listed shares are rebounding with volume, mirroring sharp increases in trading for its home-listed shares on the Copenhagen Stock Exchange. The stock closed almost 18% lower on the New York Stock Exchange on Friday; this drop was driven by smaller-than-expected weight reduction in a trial for its hybrid weight loss drug. Other pharmaceutical companies with weight loss drugs, most notably Eli Lilly, traded sharply higher on Friday in response.

Faraday Future Intelligent Electric Inc (FFIE)

+9.48%

Gapping up after announcing $30 million in cash financing commitments, including $7.5 million pre-funded in Q4 and $22.5 million in new commitments through unsecured convertible notes and warrants. The funds will support the development of the Faraday X strategy for affordable, high-performance AIEVs and general corporate purposes. Convertible notes are priced at $1.16 per share, while warrants are priced at $1.392 per share.

Reliance Global Group Inc (RELI)

+291.33%

Gapping up on no apparent catalyst. The stock has a market capitalization of $4.36 million and a float of 736,800 shares, approximately 2.74% of which are sold short.