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

0945 - S&P manufacturing PMI for May: Expected 55.3; Prior 55.3
1000 - ISM manufacturing PMI for May: Expected 53.2; Prior 52.7
1000 - Construction spending m/m for April: Expected 0.4%; Prior 0.6%

NVIDIA Corp

+2.29%

Trading higher premarket following a keynote address from CEO Jensen Huang in Taiwan. Huang announced the N1X processor, developed with Microsoft, which will power a new RTX Spark superchip and debut in Windows PCs from major OEMs including Dell, HP, ASUS, Lenovo, and MSI. The system combines a Blackwell GPU with an Arm-based N1X CPU and unified memory. The processor has been positioned as a major reinvention of the PC era focused on agentic AI workloads, with over 30 laptops and 10 desktops planned over time.

Microsoft Corp

+4.06%

Trading sharply higher after Nvidia’s announcement of the N1X processor, developed in tandem with Microsoft. According to Axios, more information on the collaboration is expected at Microsoft Build 2026 on June 2-3. Microsoft is also expected to unveil software enabling AI agents to run locally on Windows PCs, expanding on-device AI capabilities. Separately, Wells Fargo hiked its price target on the stock from $625 to $650 while maintaining an Overweight rating. The analyst attributed the move to expectations of AI-related growth across Azure cloud services and the Copilot suite, which are increasingly contributing meaningful revenue momentum.

Software and Computing Stocks

+11.01%

Trading sharply higher as a group after Jensen Huang unveiled NVIDIA's new N1X PC processor at Computex, which he described as a transformative step for personal computing comparable to the smartphone revolution. The new processor is Arm-based, sending Arm shares sharply higher premarket. Additionally, Hewlett Packard Enterprise is on watch ahead of its post-market earnings report.

HPE, ARM, HPQ, IBM, NOW

Intel Corp (INTC)

-6.70%

Gapping down amid steep competition from Nvidia in the personal computing space. On Sunday evening, the Financial Times reported that Intel is targeting a year-end launch for its Crescent Island AI data-center chip. The chip is optimized for AI inference workloads and designed to lower deployment costs by using LPDDR5 memory and air cooling instead of more expensive HBM memory and liquid-cooling systems. The company is also reportedly evaluating a China-compliant version of the chip and aims to eventually manufacture it internally through its own foundry operations.

Software and Computing Stocks

+5.21%

Both companies were mentioned at Nvidia CEO Jensen Huang’s keynote address on Sunday evening. CoreWeave is undergoing major expansions to its Nvidia AI Cloud platform to support agentic AI, physical AI, and frontier-model workloads. Nebius also expanded its Nvidia AI Cloud platform with a new Physical AI Workbench that integrates Nvidia Cosmos 3, Isaac Sim, and Isaac GR00T into agent-driven workflows for robotics and autonomous systems development. Both Nebius and CoreWeave are early adopters of the Vera Rubin systems.

CRWV, NBIS

Crypto Stocks

-1.92%

Trading lower as a group in tandem with continued weakness in Bitcoin. The cryptocurrency is currently poised to post its fourth straight red week as investors wait for the crypto-focused Clarity Act to be passed. Bitcoin is trading at $72,500 as of 7:20 AM ET on Monday, near an established level of support on the daily chart.

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

Dell Technologies Inc (DELL)

-1.55%

The company unveiled its most affordable XPS 13 laptop, starting at $699 (and $599 for eligible students), as part of a strategy to take share from Apple’s MacBook lineup by targeting students and young professionals. The new model is Dell’s thinnest and lightest XPS device, featuring a larger display while weighing about half a pound less than Apple’s competing MacBook Neo. Dell’s stock is coming off of its best day, week, and month in its history following a knockout earnings report on Thursday evening.

Oil and Energy Stocks

+2.62%

Trading higher premarket as traders continue to assess the possibility of a deal to end the conflict between the US and Iran. The New York Times reported that US President Donald has sent tougher terms for a potential peace framework with Iran, amid frustration over delays in Tehran’s response to U.S. proposals being negotiated through intermediaries. The revised approach is seen as an effort to increase pressure on Iran to accept a previously delivered framework awaiting approval from its leadership. Trump indicated on Friday that he would make a “final determination” on Iran’s latest proposal within the day, though later reports suggested that he had yet to make a decision.

USO, OXY, XOM, DVN, COP, CVX, RE, BATL, EONR, TPET

Tesla Inc (TSLA)

-1.34%

Registrations for Tesla vehicles grew across Europe for the month of May, according to data from within the industry. Registrations rose by 71% in Sweden, 113% in Spain, 136% in Denmark, and 655% in France. This growth comes alongside an overall increase in EV registrations in Europe in recent months.

Meta Platforms Inc (META)

+0.43%

The Information reported that the company is preparing a major AI hardware expansion that includes an AI pendant, upgraded smart glasses, and a business-oriented “Wearables for Work” service. The company is targeting 10 million device sales in the second half of 2026 and plans to monetize the software layer through AI subscriptions and apps like Meta AI Assistant and the “Hatch” agent, even as its Reality Labs division continues to post significant operating losses.

Cadence Design Systems Inc (CDNS)

+8.02%

The company unveiled its ChipStack AI Super Agent with NVIDIA at Computex 2026, describing it as the first fully autonomous virtual engineer for semiconductor design that can execute end-to-end chip design and verification workflows using NVIDIA Nemotron models and OpenShell. Cadence said NVIDIA engineers reduced verification cycles from roughly five weeks to less than a day, delivering about a 40x improvement in RTL validation speed and potentially accelerating chip development timelines.

Advanced Micro Devices and Qualcomm

-4.45%

Both stocks are trading sharply lower premarket following a series of announcements from rival Nvidia on Sunday evening. Additionally, the US Commerce Department has closed a loophole that previously allowed advanced AI chips from Nvidia and Advanced Micro Devices to be shipped to Chinese-owned subsidiaries outside China without export licenses. The new rules require licensing for any China-headquartered entities regardless of location, affecting chips like Nvidia’s Blackwell and Rubin and AMD’s MI350X. Existing installations are still allowed to operate and be serviced.

AMD, QCOM

Volato Group Inc (SOAR)

+186.76%

Gapping up to start the week. On Thursday, the company announced that its annual recurring revenue grew by 162% year-over-year to $3.6 million. The stock has a market capitalization of $5.25 million and float of $27.46 million shares, roughly 8.5% of which are sold short.