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

0915 - Fed’s Cook speaks
0945 - S&P services PMI (final) for December: Expected 58.5; Prior 58.5
0945 - S&P services PMI (final) for December: Prior 56.6
1000 - Factory orders m/m for November: Expected -04.% Prior 0.2%

Semiconductors

+2.35%

Trading higher premarket as a group after Foxconn, a key supplier for Apple and Nvidia, reported record fourth-quarter revenue of $64.83 billion, up 15.17% annually. This surge was driven by robust demand for AI servers, cloud, and networking products. The group is also on watch ahead of CES 2025, which runs from January 7 to 10. Nvidia CEO Jensen Huang is scheduled to deliver a keynote at 9:30 PM ET on January 6; Arm, Advanced Micro Devices, and Micron are amongst the other companies set to attend.

ASML, NVDA, AMD, MU, MRVL, INTC, AVGO, ARM, QCOM, SMCI

Crypto Stocks

+2.79%

Trading higher as a group as Bitcoin pushes towards the key $100,000 level once again. The cryptocurrency, which is poised for a seven-day winning streak, touched an intraday high near $99,800 on Monday morning and is trading just below $99,400 as of 7:00 AM ET. Ethereum, meanwhile, has reclaimed $3,650. Separately, MicroStrategy announced plans to raise up to $2 billion through public offerings of perpetual preferred stock as part of its 21/21 Plan to secure $21 billion each in equity and fixed-income instruments. The company also acquired 1,070 bitcoins valued at $101 million in total.

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

Palantir Technologies Inc (PLTR)

-1.31%

Trading lower premarket after Morgan Stanley resumed coverage of the stock with an Underweight rating and a $60 price target. The analyst cited concerns about the stock's 2024 rally being largely driven by valuation expansion rather than substantial revenue growth. Morgan Stanley also pointed out that its current valuation prices in a 30% annual growth rate over a decade, making it the priciest among high-growth software companies.

Robotaxi-Related Stocks

+2.97%

Trading higher as a group. The Wall Street Journal reported that Uber and Lyft are gearing up for the era of robotaxis, and planning to integrate driverless cars from providers like Alphabet's Waymo into their services. Uber also announced a $1.5-billion accelerated buyback program. Separately, Stifel raised its price target for Tesla from $411 to $492 while maintaining a Buy rating on the stock.

UBER, LYFT, TSLA, GOOGL

Microsoft Corp (MSFT)

+0.87%

Trading higher premarket following a price target increase from Piper Sandler. The analyst raised its price target on Microsoft’s stock from $470 to $520, maintaining an Overweight rating. On Friday, vice chair and president Brad Smith announced that the company plans to invest around $80 billion in fiscal 2025 to develop AI-focused data centers.

Chinese ADRs

+3.54%

Trading sharply higher as a group after Reuters reported that China's main stock exchanges urged large mutual funds to limit stock sales and increase net buying at the start of 2025. The reported guidance, aimed at stabilizing markets amid economic concerns, follows steep stock market losses driven by fears of potential tariffs from incoming U.S. President Donald Trump. Separately, Xpeng and Volkswagen announced joint plans to build a major super-fast charging network in China.

BABA, BIDU, BILI, PDD, JD, LI, NIO, XPEV, ZK

United States Steel Corp (X)

+5.22%

Gapping up after jointly filing two lawsuits with Nippon Steel related to Nippon’s attempted acquisition of the company, which faces numerous regulatory hurdles. The lawsuits cite violations of due process, political influence in the CFIUS review process, and alleged illegal actions by Cleveland-Cliffs and the USW. In the filings, the companies emphasized their commitment to the $55 per share transaction, highlighting planned investments of over $2.7 billion to strengthen the U.S. steel industry.

General Motors and Ford Motor Co

+2.03%

Trading higher premarket following a Washington Post report suggesting that tariffs under President-elect Donald Trump may be less harsh than initially expected. According to the report, Trump's aides are considering tariffs targeting specific sectors critical to national or economic security, scaling back from his campaign proposal of universal tariffs on all imports. Both stocks traded higher on Friday after the companies reported year-over-year increases in deliveries for Q4 2024.

GM, F

Fubotv Inc (FUBO)

+43.06%

Gapping up after Bloomberg reported that Disney and Fubo are close to finalizing a deal to merge their online live TV businesses, with Disney folding Hulu + Live TV into Fubo. The new venture would be 70% owned by Disney, with the remaining 30% owned by Fubo. Roughly 12.37% of Fubo’s float is sold short.

Robotics and AI-Focused Smallcaps

+21.03%

Several tickers in the group are gapping up with volume ahead of CES 2025, which is slated to run from January 7 to January 10. This year’s event is speculated to feature a number of robotics-related exhibits and products. Several stocks in the group, including Cerence (CRNC) and Nauticus Robotics (KITT), rallied on Friday as well.

CRNC, KITT, MBOT, RR, SERV, ARBE