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

0830 - Advanced U.S. trade balance: Expected -101.30B; Prior -98.26B
0830 - Advanced wholesale inventories: Expected 0.1%; Prior 0.2%
1100 - Crude Oil Inventories: Expected -0.700M; Prior —0.934M

Crypto Stocks

+1.34%

Crypto ETFs Rebound: Bitcoin and Ethereum spot ETFs saw a sharp rebound on Dec. 26, reversing recent outflows. Bitcoin ETFs gained $475M in net inflows, led by Fidelity’s FBTC ($254M), while Ethereum ETFs added $117M, with Fidelity’s FETH ($82.9M) and BlackRock’s ETHA ($28.1M) contributing. Separately, the largest Bitcoin options expiry in history is occurring today, with $14.38 billion in contracts expiring, representing 70% of total open interest. The put/call ratio of 0.61 signals bullish sentiment, though the "max pain" level at $84,000 suggests potential downside risk. Bitcoin is trading at $96,724.39, up 1.43% in the last 24 hours—watch for volatility as positions adjust post-expiry.

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

Quantum Computing stocks (RGTI)

11.2%

Shares of Rigetti Computing are trading higher after a huge rally in Quantum Computing stocks yesterday. This follows fresh 52week highs made in Rigetti in early trade yesterday. The 17% short float no doubt contributing to this now 4 day rally on strong relative volume.

RGTI, QUBT, QBTS

Taiwan Semiconductor (TSM)

+0.86%

Taiwan Semiconductor Manufacturing Co. announced its expanding the Kaohsiung's development with five planned factories, the first operational by 2025-2026. Infrastructure upgrades, including water recycling and highways, support its expansion. Globally, TSMC's Arizona investment grows to $65B, with two new fabs planned by 2030. Projected to command 67% of the global foundry market by 2025, TSMC benefits from AI and crypto demand. YTD, shares have risen 100%, though premarket trading shows a 0.79% dip to $204.67. ETFs like SMH and SOXX offer indirect exposure to TSMC’s growth.

Tesla inc (TSLA)

-0.53%

Tesla shares had extended their gains, boosting the Dow in light year-end trading and signaling a slight uptick in investor optimism. However, cautious sentiment indicators suggest traders remain mindful of potential volatility heading into 2025, Tesla fell sharply in yesterdays trade and holds lower early premarket

The Boeing Company (BA)

-0.10%

Boeing faces increased competition for engineering talent as rival space companies like SpaceX and Blue Origin continue to attract its workforce, with average engineer tenure dropping to 12.6 years. The company struggles with operational challenges, including Starliner spacecraft issues and layoffs affecting 17,000 employees. Despite a 28.4% YTD decline, BA shares closed up 0.6% at $180.38 on Thursday. Analysts maintain a "buy" rating with a consensus price target of $197.85. Keep an eye on further developments as Boeing addresses talent retention and strategic recovery efforts.

GameStop Corp (GME)

-1.79%

GameStop (GME) saw a 7.68% surge after-hours following a mysterious post by Keith Gill ("Roaring Kitty") on Dec. 25, but the stock later declined by 2.09% in pre-market trading as investors took profits. The price increase was driven by social media speculation, reminiscent of the 2021 meme stock rally. Despite the volatility, analysts maintain a consensus price target of $10, indicating a potential downside of 71% from current levels. As a meme stock, GME remains highly speculative with substantial risk for day traders.

Chinese ADRs

-1.10%

Chinese ADRs gapping down to start the morning as China's industrial profits fell 7.3% in November, a slower decline compared to October’s 10% drop, suggesting potential stabilization as government stimulus measures take effect. Despite this, industrial profits are expected to show their largest annual decline since 2011, reflecting weak domestic demand and challenges in the housing sector. State-owned enterprises saw an 8.4% drop in profits, while foreign and private companies also posted losses. The Chinese government is ramping up fiscal support, issuing record debt, and loosening monetary policy to stimulate growth, with the World Bank slightly raising China’s 2024 growth forecast to 4.9%.