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

0830 - Housing starts for June: Expected 1.298M; Prior 1.256M
0830 - Building permits m/m for June: Expected 1.387M; Prior 1.394M
1000 - UMich consumer sentiment (prelim) for July: Expected 61.5; Prior 60.7
1000 - UMich 5yr inflation (prelim) for July: Expected 3.9%; Prior 4%
1000 - UMich 1yr inflation (prelim) for July: Expected 5%; Prior 5%

Crypto Stocks

+2.10%

On watch after the US House of Representatives passed a trio of crypto-related bills on Thursday afternoon. The most closely watched of these has been the GENIUS Act, which relates to the establishment of rules and regulations for stablecoins. President Donald Trump is set to participate in a “signing ceremony” for the GENIUS Act at 2:30 PM ET on Friday, July 18.

CRCL, COIN, MSTR, MARA, IBIT, ETHA, RIOT, CLSK, HUT, HIVE, IREN, CAN, BTBT

Netflix Inc (NFLX)

-1.54%

Trading marginally lower premarket after reporting Q2 2025 earnings. Sales of $11.079 billion and earnings of $7.19 per share beat estimates of $11.043 billion and $7.06, respectively. The company guided better-than-expected EPS and sales for Q3 and raised its sales guidance for FY25 to $44.8 billion-$45.2 billion, better than the expected $44.496 billion. Netflix warned of a lower operating margin in H2 2025 compared to the first half of the year, with its Q3 operating margin guide of 31.5% representing a sequential decline from 34.1% in Q2.

Meta Platforms Inc (META)

+0.14%

Bloomberg reported that the company has hired former Apple AI researchers Mark Lee and Tom Gunter to join its Superintelligence Labs team after recruiting their former boss, Ruoming Pang. Separately, on Thursday, Meta shareholders abruptly settled an $8 billion lawsuit against Mark Zuckerberg and other executives over alleged failures to protect user privacy. The surprise agreement prevents public testimony from Zuckerberg, Sheryl Sandberg, Peter Thiel, and others, who were accused of neglecting oversight responsibilities tied to prior FTC agreements. Additionally, the company does not intend to sign the EU’s AI-related Code of Practice, as per global affairs executive Nick Clegg.

Amazon.com Inc (AMZN)

+0.15%

Reuters reported that the company has laid off several hundred employees in its AWS cloud division as part of a broader restructuring effort driven by the increasing impact of generative AI, with affected roles including client-facing specialists. The move follows CEO Andy Jassy’s comments that AI will reduce the need for certain positions.

Chinese ADRs

+1.35%

Trading higher as a group following a strong overnight session in China. The tech-heavy Hang Seng Index gained 1.3% during the session, closing at its highest level in over three years, while the CSI 300 Index closed 0.6% higher. Barron’s attributed the strength in Chinese tech stocks to better-than-expected US economic data on Thursday morning.

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

Microsoft Corp (MSFT)

+0.25%

On watch after Reuters reported that a US senator is pressing the Pentagon for answers about the company’s reported use of Chinese engineers to help maintain military cloud computing systems. The engineers reportedly worked under U.S. subcontractors with security clearances but limited technical expertise, raising concerns about potential cybersecurity risks.

3M Co (MMM)

+2.55%

Trading higher premarket after posting Q2 earnings, with adjusted earnings of $2.16 per share and sales of $6.2 billion beating estimates of $2.01 and $6.09 billion, respectively. The company raised its adjusted EPS guidance from $7.60-$7.90 to $7.75-$8 for fiscal 2025, beating estimates of $7.68; this estimate includes potential impacts from tariffs. 3M also expects sales growth of 2.5% for the fiscal year.

Interactive Brokers Group Inc (IBKR)

+5.55%

Gapping up following its Q2 2025 earnings report. Adjusted earnings of $5.01 per share beat estimates of $0.45, and sales of $1.48 billion beat estimates of $1.36 billion. The company reported a 27% increase in commission revenue, with customer trading volume increasing across its stock, options, and futures subcategories. Overall customer accounts also increased by 32%, reaching 3.87 million at the end of the quarter.

Chevron Corp (CVX)

+3.21%

The company is set to move forward with its $53 billion acquisition of Hess Corp after winning a key legal battle against Exxon Mobil over rights to Hess’ stake in the massive Stabroek Block oil discovery in Guyana. The victory is a major boost for CEO Mike Wirth’s strategy, securing access to over 11 billion barrels of oil and positioning Chevron for future growth amid recent underperformance.

Charles Schwab Corp (SCHW)

+1.50%

Trading higher premarket after reporting earnings for Q2 2025. Adjusted earnings of $1.14 per share and sales of $5.851 billion exceeded estimates of $1.07 and $5.651 billion, respectively, for the quarter. Trading revenue grew by 23% on a year-over-year basis, while total client assets increased by 14%. Bank deposits, however, declined by 5% year-over-year.

American Express Co (AXP)

+1.44%

Trading higher premarket after its Q2 2025 earnings report, with adjusted earnings of $4.08 per share and sales of $17.856 billion beating estimates of $3.87 and $17.13 billion, respectively. The company maintained its previously-stated sales guidance of $71.25 billion to $72.544 billion for the fiscal year, compared to estimates of $71.313 billion. American Express also restated its FY25 GAAP earnings guidance of $15-$15.50 per share, the midpoint of which exceeds estimates of $15.23.

Sarepta Therapeutics Inc (SRPT)

-24.67%

Gapping down after news broke that a third patient had died following treatment with the company’s experimental gene therapies. The latest death, involving a 51-year-old man in a Phase 1 trial for limb-girdle muscular dystrophy, adds to growing safety concerns as the FDA investigates earlier deaths linked to Sarepta’s approved Duchenne therapy. Earlier this week, the company announced plans to lay off 36% of its workforce.

Telomir Pharmaceuticals Inc (TELO)

+147.93%

Gapping up after announcing that its experimental drug, Telomir-1, was able to "turn back on" a key cancer-fighting gene (STAT1) in human prostate cancer cells by reversing a type of gene silencing. In lab tests, Telomir-1 worked better than standard treatments like chemotherapy and rapamycin at restoring this tumor-suppressing function.