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

0945 - S&P services PMI flash for January: Expected 56.5; Prior 56.8
0945 - S&P manufacturing PMI flash for January: Expected 49.8; Prior 49.4
0945 - S&P composite PMI flash for January: Expected 55.6; Prior 55.4
1000 - UMich consumer sentiment for January: Expected 73.2; Prior 73.2
1000 - UMich 1-yr Inflation Expectations for January: Expected 3.2%; Prior 3.3%
1000 - Existing home sales for December: Expected 4.2M; Prior 4.15M

Crypto Stocks

+2.01%

On watch as a group after President Donald Trump signed an executive order related to cryptocurrency on Thursday afternoon. The order authorizes the formation of a crypto working group, to be focused on a potential stockpile of digital assets. The order also bars actions to create and promote any central bank digital currencies. Bitcoin is trading above $105,000 on Friday morning, while Ethereum is trading above $3,200. Separately, MicroStrategy announced that it will be redeeming $1.05 billion of its 2027 convertible notes.

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

Tesla Inc (TSLA)

+0.77%

Trading higher premarket after launching its revamped Model Y vehicle in the US. The updated Model Y, which was introduced in China earlier this month, includes the FSD feature. Its long-range all-wheel drive variety is priced at $59,990, making it approximately 25% more expensive than the comparable variant of the original Model Y. Separately, the company Tesla is recalling over 1.2 million vehicles in China, including imported Model S and X and domestically produced Model 3 and Y vehicles, due to issues with rearview cameras and electronic power steering.

Apple Inc (AAPL)

+0.68%

On watch following a mixed analyst note from B of A Securities, which maintained its Buy rating on the stock but lowered its price target from $256 to $253. While strong iPhone 16 demand is expected to drive robust December quarter results, the analyst reduced projections for the March quarter and fiscal years 2025-2026. These reduced forward projections were attributed to macroeconomic challenges and slower adoption of Apple's new Intelligence features.

Novo Nordisk A/S (NVO)

+12.73%

The company’s US-listed shares are gapping up with volume. Novo Nordisk announced positive results from a phase 1b/2a trial of amycretin, a once-weekly subcutaneous treatment for overweight or obesity, which showed significant dose-dependent weight loss of up to 22% over 36 weeks. The trial revealed that placebo-treated participants experienced slight weight gain, while amycretin demonstrated promising weight reduction across all tested doses.

Twilio Inc (TWLO)

+16.60%

Gapping up after providing stronger-than-expected preliminary Q4 2024 revenue. The company expects 11% year-over-year revenue growth, above previous guidance of 7% to 8%. GAAP income for the quarter is expected to be positive, and non-GAAP income is also expected to exceed previous guidance. Twilio maintained its previous free cash flow projection of $650 million to $675 million for fiscal 2024. The company is expected to report earnings after the bell on February 13.

Chinese ADRs

+1.38%

Trading higher as a group following a strong showing in overnight trading in China, with the Hang Seng Index closing 1.86% higher and the CSI 300 Index gaining just under 1% on the day. The strength was driven by President Donald Trump’s optimistic remarks about progress in trade talks with Chinese leader Xi Jinping. Chinese authorities are also encouraging more stock purchases by mutual funds and insurers in the area, further fueling the rally.

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

The Boeing Company (BA)

-1.34%

Trading lower premarket after sharing preliminary results for Q4 2024. The company now expects to report $15.2 billion in revenue for the quarter, down from its previous guidance of $16.27 billion, and expects GAAP losses of $5.46 per share. Boeing noted that the results from the quarter will be impacted by the work stoppage and strike of its machinists’ union late late year. The company also shared that it expects to report significant negative cash flow for Q4.

Verizon Communications Inc (VZ)

+0.38%

Trading with significant premarket volume following its Q4 2024 earnings report, with GAAP earnings of $1.18 per share and sales of $35.7 billion exceeding expectations of $1.06 and $35.319 billion, respectively. The company reported 586,000 postpaid phone net additions for the quarter, up from 449,000 year-over-year; broadband net additions of 408,000 also reflected an increase from 350,000 on a year-over-year basis. Verizon guided adjusted earnings between $4.59 and $4.73 for fiscal 2025, mostly missing estimates of $4.71.

American Express Co (AXP)

-3.03%

Trading sharply lower premarket following its earnings report. Sales of $17.179 billion exceeded expectations of $17.159 billion, while GAAP earnings of $3.04 per share were in-line with analyst estimates. The company reported slight year-over-year decreases for provisions for credit losses and its net write-off rate. For fiscal 2025, American Express guided 8% to 10% revenue growth and projected earnings of $15 to $15.50 per share, compared to estimates of $15.27.

Affirm Holdings Inc (AFRM)

+4.02%

Trading sharply higher premarket after Liberty Mutual Investment announced that it will providing the company with extensive funding through an expanded partnership. The deal, which was reported by the Wall Street Journal shortly before it was announced, allows Liberty to purchase Affirm’s installment loans for up to $750 million at a time. The term of the program ends in June 2027, by which point Liberty is expected to invest up to $5 billion in the program.