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

0830 - Retail sales m/m for May: Expected 0.5%; Prior 0.5%
0830 - Core retail sales m/m for May: Expected 0.6%; Prior 0.7%
1000 - Business inventories m/m for April: Expected 0.5%; Prior 0.9%
1000 - Pending home sales m/m for May: Expected 1%; Prior 1.4%
1400 - FOMC rate decision for June: Expected 3.75%; Prior 3.75%
1400 - FOMC rate statement and SEP
1430 - FOMC press conference with Fed Chair Warsh

Intel Corp (INTC)

+3.72%

Trading sharply higher premarket after the company announced that it has started risk production of its advanced 18A-P process node. The node is designed to provide up to 9% better performance or 18% lower power consumption compared with the standard 18A node. Intel said the new technology also offers at least 20% improved thermal resistance and remains compatible with existing 18A manufacturing infrastructure.

Space Exploration Technologies Corp (SPCX)

+2.87%

Trading higher ahead of its fourth session as a publicly-traded company. Bloomberg reported that leveraged and inverse leveraged ETFs tied to the stock traded approximately $4.15 billion in total dollar volume on Tuesday, compared to roughly $1 billion total on Monday. Two of the twelve ETFs traded over $1 billion each on Tuesday alone. SpaceX’s market capitalization surpassed that of both Amazon and Microsoft on Tuesday morning, though the stock pared gains later in the session.

AST SpaceMobile Inc (ASTS)

+5.54%

Gapping up after successfully launching its BlueBird 8, 9, and 10 satellites from Cape Canaveral aboard a SpaceX Falcon 9 rocket, advancing its space-based direct-to-smartphone broadband network. The new Block 2 satellites are designed to nearly double data speeds to about 200 Mbps versus earlier models, with additional satellites already in production for future launches.

Oracle Corp (ORCL)

-0.97%

On Tuesday afternoon, Business Insider reported that Microsoft ended discussions to lease cloud capacity from Oracle in a deal that could have exceeded $3 billion. Microsoft reportedly cited security and FedRAMP compliance concerns as key issues related to their decision. Oracle has disputed the report, saying some of the details were inaccurate.

Micron Technology Inc (MU)

+3.50%

Trading sharply higher premarket after Deutsche Bank hiked its price target on the stock from $1000 to $1500 while maintaining a Buy rating. The firm believes Micron has further upside due to a memory shortage driven by AI demand. Deutsche Bank expects continued strength in memory pricing and supply-demand imbalances to support Micron’s revenue growth above consensus and sustain momentum through 2027 and beyond. Micron is scheduled to post Q3 2026 earnings after the bell on June 24.

Oil and Energy Stocks

-0.67%

On watch as a group as traders await updates on the US-Iran memorandum of understanding to end the countries’ conflict, with US President Donald Trump indicating that the US “will go right back to dropping bombs” if the countries are unable to reach a satisfactory deal. Bloomberg reported on a 14-point MOU that would establish an immediate ceasefire, launch negotiations for a final agreement, ease sanctions, and restore oil exports, among other areas of focus. Additionally, shipping data shows that at least three Iranian oil tankers carrying nearly five million barrels of crude successfully exited a US Navy blockade in the Strait of Hormuz.

USO, OXY, XOM, CVX, DVN, COP

Carmax Inc (KMX)

+3.63%

Trading sharply higher premarket after its Q1 2027 earnings report. Net earnings per diluted share came in at $1.31, representing a decline from $1.38 in Q1 2026, while gross profit declined by 4.4% year-over-year to $854.4 million. The company purchased 322,000 vehicles during the quarter, down 4.4% on a year-over-year basis. Comparable sales declined by 0.8%, though wholesale unit sales grew by 8.4% and total units sold grew by 3.3%.

Alphabet Inc (GOOGL)

-0.45%

The company faces new UK competition rules requiring greater transparency in Google Search rankings and allowing users to more easily transfer search data to approved third parties. Separately, HSBC announced a multi-year partnership with Google Cloud to strengthen the bank’s artificial intelligence capabilities.

Crypto Stocks

-1.33%

Trading lower as a group in tandem with a pullback in Bitcoin, which is poised for its second consecutive red session. The cryptocurrency traded just shy of $67,000 on Tuesday before pulling back to close around $65,600. As of 7:20 AM ET on Wednesday, the cryptocurrency is trading below $64,600. Separately, Barclays weighed in on Coinbase after the company’s annual meeting of shareholders and product showcase on Tuesday. The analyst said Coinbase is evolving into an “everything exchange” by expanding beyond crypto trading into areas such as tokenized equities, crypto and equity options, AI-driven trading tools, and agentic payments. T

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

Figma Inc (FIG)

+4.09%

Trading sharply higher premarket after Citi initiated coverage with a buy rating and a $36 price target, citing strong AI-driven growth potential. The analyst highlighted improving customer usage and upcoming product and monetization catalysts, while noting a possible near-term overhang from an August share lock-up expiry.

Amazon.com Inc (AMZN)

+0.18%

On Tuesday, Bloomberg News reported that the company could face a US Federal Trade Commission lawsuit over allegations that it misled advertisers. Regulators are set to focus on Amazon’s ad auction practices and disclosure of reserve pricing. The investigation, which also involves several state attorneys general, could conclude with a lawsuit or settlement as soon as this summer.

Uber, Stellantis, and Lucid Group

+1.01%

The stocks are on watch following a pair of robotaxi-related announcements. Stellantis, Wayve, and Uber Technologies signed a non-binding agreement to develop and deploy Level 4 robotaxi services in Europe, North America, and other markets. Stellantis will supply L4-capable vehicles, Wayve will provide the AI driving system, and Uber will offer the service through its app. Separately, Uber Technologies, Nuro, and Lucid Group plan to launch a robotaxi service in Houston by mid-2027. The service will use Lucid Gravity EVs equipped with Nuro’s Level 4 autonomous driving system and operate through Uber’s network, making Houston the second planned market after the San Francisco Bay Area.

UBER, STLA, LCID

La-Z-Boy Inc (LZB)

+16.71%

Gapping up after its Q4 2026 earnings report, with written sales growing by 11% and delivered sales improving by 9% year-over-year. Overall sales came in at $570.34 million for the quarter, flat on a year-over-year basis; FY 2026 sales grew by 1% to reach $2.126 billion. La-Z-Boy’s GAAP operating margin improved by 200 basis points year-over-year for the quarter to reach 7.2%.

Azitra Inc (AZTR)

+84.63%

Gapping up after announcing that Travis Whitfill, its COO and co-founder, will deliver a presentation at the BIO International Convention, held from June 22-25. Whitfill’s presentation will focus on updates related to Azitra’s pipeline, with emphasis on a protein and peptide program launch. Azitra has a market capitalization of $3 million and a float of 16.2 million shares.