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

1400 - Federal budget balance for June: Expected -$30B; Prior -$316B

Big Tech and Semiconductors

-0.78%

Trading lower premarket after US President Donald Trump unveiled a 35% tariff on Canada via a letter posted on Truth Social. The letter warns that the tariff rate will be increased if Canada chooses to retaliate, though Trump also noted that there could be an “adjustment” if Canada cooperates with the issue of fentanyl at the border.

MSFT, META, AAPL, PLTR, AMD, ARM, SMCI, INTC, MU, MRVL, AVGO

Crypto Stocks

+4.43%

Trading sharply higher as a group as Bitcoin continues to make new all-time highs well above $112,000. The cryptocurrency is trading around $118,000 as of 7:10 AM ET, with its all-time high sitting just below $119,000 as of that time. Ethereum is also breaking out, making a high above 3,000 on Friday morning.

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

NVIDIA Corp (NVDA)

-0.53%

On watch following a series of reports on Thursday afternoon suggesting that CEO Jensen Huang was set to meet with US President Donald Trump that day. The meeting, which seems to have been first reported by Bloomberg, comes ahead of Huang’s reported chip to China as Nvidia prepares to launch a new China-specific AI chip. The purposes of the meeting remain unclear, though it follows Trump’s praise of Nvidia’s stock in a Truth Social post on Thursday morning.

Chinese ADRs

+0.23%

On watch as a group after Chinese state media reported that China and the US have agreed to increase all levels of talks between the countries. The report also noted that the countries are looking to increase cooperation with one another. Both the CSI 300 and Hang Sang indices closed higher in overnight trading on Friday, though each closed near its lowest level of the day.

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

Levi Strauss & Co (LEVI)

+6.03%

Gapping up after reporting Q2 2025 earnings, with adjusted earnings of $0.22 per share and sales of $1.446 billion beating estimates of $0.13 and $1.366 billion, respectively. Revenue grew by 6% year-over-year, aided by revenue growth in two of its three regions, and direct-to-consumer revenue grew by 11%. The company raised its FY25 adjusted earnings guidance from $1.20-$1.25 per share to $1.25-$1.30 per share, beating estimates of $1.23. Levi’s noted that they project a tariff impact of $25 million to $30 million for the remainder of the year.

Amazon.com Inc (AMZN)

+0.29%

Trading marginally higher premarket after Morgan Stanley raised its price target on the stock from $250 to $300. The price target increase was attributed to an improved macro and geopolitical environment, alongside rising confidence in AWS growth. Morgan Stanley firm also boosted its 2026–2027 EPS estimates for the company and reaffirmed Amazon as its "top pick," with a bull case target of $350. Separately, A U.S. judge reprimanded Amazon for improperly withholding documents from the Federal Trade Commission in a case alleging the company misled customers about its Prime service.

Alphabet Inc (GOOGL)

-0.61%

The Financial Times reported that the company will offer steep discounts on its cloud services to the U.S. government as part of a broader push by the Trump administration to cut federal IT spending. This follows Oracle’s announcement of an up-to-75% discount on similar contracts. Microsoft Azure and Amazon Web Services are expected to follow, as all four major cloud providers prepare to align with the administration’s $20 billion annual cost-cutting initiative.

Tesla Inc (TSLA)

-0.33%

On watch after Nikkei Asia reported that Panasonic is delaying plans to ramp up its $4 billion battery plant in Kansas to full capacity by 2027 due to weak Tesla sales. While the plant will begin production soon, a revised timeline hasn't been set. Additionally, Tesla is set to open its first showroom in India next week.

AMC Entertainment Holdings Inc (AMC)

+9.00%

Gapping up after Wedbush upgraded the stock to Outperform from Neutral and raised its price target to $4 from $3. The analyst attributed the upgrade to a stable film release schedule, market share gains, improved debt outlook, and the likely end of major share issuances. Wedbush expects modest box office and revenue growth even in the low-growth film industry, with improved cash flow and operational efficiency helping the company manage its high fixed costs.

CoreWeave (CRWV)

-3.22%

Continuing to trade lower premarket after declining by nearly 10% on Thursday. The drop has been attributed in part to a downgrade from Buy to Hold by Needham, one of several analyst downgrades for CoreWeave since announcing its acquisition of Core Scientific on Monday.

Drone and Defense Smallcaps

+6.32%

Several stocks in the group are gapping up following US Defense Secretary Pete Hegseth’s announcement to fast-track drone manufacturing and lift restrictions on their deployment. The move, supported by recent executive orders from President Trump, aims to accelerate U.S. drone capabilities and counter foreign threats. Several stocks in this group - particularly Unusual Machines (UMAC), AgEagle (UAVS), and Red Cat (RCAT) - have short floats of greater than 10%.

UMAC, RCAT, UAVS, ONDS, PRZO, AVAV

Capricor Therapeutics Inc (CAPR)

-48.33%

Gapping down after announcing that the FDA has rejected the company’s experimental cell therapy, deramiocel, for Duchenne muscular dystrophy, amid internal agency conflict. STAT previously reported that Nicole Verdun, head of the FDA’s cell and gene therapy division, pushed for an advisory panel review, but was overruled by her supervisor and later left the agency.

Signing Day Sports Inc (SGN)

+156.91%

Gapping up after announcing that it has taken the next step toward merging with a digital infrastructure firm called BlockchAIn. The deal, which still needs shareholder and stock exchange approval, would combine their businesses and could eventually list BlockchAIn’s shares on the NYSE. The stock has rallied in the past and has a short float of approximately 5%.