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

0945 - S&P Global manufacturing PMI for January: Expected 50.1; Prior 50.1
1000 - ISM manufacturing PMI for January: Expected 49.9; Prior 49.3
1000 - ISM manufacturing prices paid for January: Expected 54.6; Prior 52.5
1000 - Construction spending m/m for December: Expected 0.2%; Prior 0.0%
1230 - Fed’s Bostic speaks
1830 - Fed’s Musalem speaks
1930 - Fed’s Jefferson speaks

Crypto Stocks

-6.32%

Many tickers in the group are gapping down in tandem with a 4% drop in Bitcoin and a 15% drop in Ethereum. This market-wide selloff, which has hit the crypto space particularly hard, was influenced by President Donald Trump’s tariff announcement and fears of retaliation from the impacted countries, including Canada and Mexico. Bitcoin broke below $92,000 over the weekend before bouncing back, while Ethereum hit a low of $2,100.

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

Automakers

-4.58%

Trading sharply lower as a group as traders assess the impact of tariffs, particularly those aimed at Canada and Mexico, on the auto industry. The U.S. auto industry imports more from Mexico and Canada than any other sector, as reported by the Wall Street Journal with $147 billion in vehicles and parts from Mexico and nearly $60 billion from Canada in 2023. Furthermore, major automakers like Ford and GM depend on Mexican manufacturing for vehicle assembly and component production. Tesla is also on watch new car registrations in France dropped by 63% year-over-year for the month of January, outpacing a 6.2% drop in overall auto sales and a 0.5% decline in EV sales.

TSLA, GM, F, RIVN, TM, STLA

Apple Inc (AAPL)

-1.86%

On watch after receiving a bullish analyst note from B of A, which reiterated a Buy rating and $265 price target for the stock. The analyst foresees the impact of new U.S. tariffs on China imports as being “manageable” for Apple, noting that the company’s earnings are likely to remain resilient regardless of whether it absorbs the cost or raises prices. B of A also opined that the current US administration could ease regulatory pressures on Apple.

Palantir Technologies Inc (PLTR)

-1.89%

On watch ahead of its Q4 2024 earnings report, expected to be released around 4:05 PM ET on Monday, February 3. Analysts are looking for the company to post earnings of $0.10 per share and $778.89 million in revenue. The report comes just one week after the sector-wide drop in AI tickers amid fears of competition from Chinese AI startup DeepSeek. Palantir CEO Alex Karp addressed the issue during a CNBC interview on Friday, emphasizing the need for the U.S. to accelerate AI development to maintain its technological edge and protect national security.

Chinese ADRs

-2.98%

Trading lower as a group after their overseas counterparts resumed trading following the Lunar New Year holiday break, though both the CSI-300 and the Hang Seng Index were relatively flat on the session. The space is on watch following weaker-than-expected manufacturing PMI data in China and the announcement of 10% tariffs from the US. Additionally, the tariff announcement includes the elimination of duty-free de minimis provision for Chinese goods under $800. This change, effective Tuesday, could raise costs for PDD’s e-commerce platform Temu and impact its price competitiveness in the U.S. market. The Financial Times further reported that EU regulators could go after PDD for selling products deemed dangerous or illegal.

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

Amazon.com Inc and Alphabet Inc

-1.94%

Both tech giants are scheduled to report earnings this week, with Alphabet’s report scheduled on Tuesday evening and Amazon’s report set for Thursday evening. Analysts are expecting earnings of $2.12 per share and revenue of $81.38, which would represent a 5.7% year-over-year revenue decline. Amazon, meanwhile, is expected to report earnings of $1.52 per share and $187.28 billion in revenue, marking a 10.2% year-over-year increase. These earnings follow reports from fellow Mag 7 constituents Meta and Microsoft last week; both company provided weaker-than-expected forward guidance.

AMZN, GOOGL

Taiwan Semiconductor Manufacturing Co (TSM)

-3.58%

Trading lower following an almost-6% drop in the company’s Taipei-listed shares on Monday. The decline, its largest in almost six months, was attributed to overseas investors catching up to last week's global AI stock selloff; Asian markets resumed trading on Monday following a weeklong holiday. The initial AI sector drop last week was fueled by concerns over DeepSeek’s AI competition, though U.S. tariff tensions and potential sectoral tariffs on chips, metals, and drugs put extra pressure on the stock.

United States Natural Gas Fund (UNG)

+8.28%

Trading higher premarket after President Donald Trump imposed new tariffs on imports from Canada and Mexico, including a 10% tariff on Canadian energy imports. Goldman Sachs analysts believe the tariffs will have a limited near-term impact on global oil and gas prices, but noted that they could affect U.S.-Canada energy trade. This is because most U.S. natural gas imports come from Canada via pipeline.

Reborn Coffee Inc (REBN)

+90.31%

Gapping up premarket on no apparently catalyst. The stock has a float of 2.52 million shares, approximately 13.63% of which are sold short.

GH Research PLC (GHRS)

+91.48%

Gapping up after announcing that its Phase 2b trial of its depression treatment met its primary endpoint. The trial showed that the company’s GH001 treatment for treating depression showed a reduction of symptoms. The stock has a float of 10.45 million shares, approximately 7.92% of which are sold short.