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

0830 - Advance goods trade balance for May: Expected -$85B; Prior -$83B
0830 - Retail inventories ex autos for May: Prior 0.6%
0830 - Advance wholesale inventories m/m for May: Expected 0.4%; Prior 0.6%
1000 - UMich consumer sentiment for June: Expected 50; Prior 48.9
1000 - UMich 5-year inflation expectations for June: Expected 3.3%; Prior 3.4%
1000 - UMich 1-year inflation expectations for June: Expected 4.6%; Prior 4.6%
1130 - Fed’s Kashkari speaks

Memory Stocks

-4.01%

Trading sharply lower as a group amid overall tech weakness, including tech-driven selloffs in South Korea and Japan during the overnight session. The sector rallied on Thursday following a blowout earnings report from Micron, with both Micron and Sandisk posting double-digit gains on the session. The Maeil Business Newspaper, a Korean media outlet, reported on Thursday evening that memory companies Samsung and SK Hynix are set to announce major AI investment plans next week.

MU, STX, WDC, SNDK

ON Semiconductor Corp (ON)

-13.59%

Gapping down after agreeing to acquire Synaptics (SYNA) in an all-stock deal valued at roughly $7 billion in enterprise value. Synaptics shareholders are set to receive 1.35 ON shares per share and own about 12% of the combined company. The transaction is expected to close in mid-2027 and is projected to generate around $200 million in annual synergies. TD Cowen downgraded ON Semiconductor to Hold from Buy and cut its price target to $110, arguing that the planned acquisition adds execution risk and strategic complexity despite ON's strong long-term prospects in automotive and data center markets.

Apple Inc (AAPL)

+0.51%

The stock declined by more than 6% on Thursday for its worst single-session performance since April 2025. The drop came after Apple officially announced price hikes for some of its MacBook and iPad models, citing “an extraordinary surge in demand for memory and storage”. The company also noted in its announcement that it has “never seen a component price increase this much, this quickly” in reference to rising memory prices. Apple CEO Tim Cook warned of potential price hikes in a Wall Street Journal interview published on June 17, 2026.

Space Exploration Technologies Corp (SPCX)

-1.35%

The Financial Times reported that the company is planning to launch a Starlink mobile service for US consumers, potentially entering direct competition with major telecom providers like Verizon, AT&T, and T-Mobile. The company is also considering a retail mobile product and even building its own terrestrial network, as Starlink’s expansion raises expectations of broader disruption in the $1.6 trillion US communications market.

Crypto Stocks

-0.76%

Trading lower as a group as Bitcoin continues to trade around the key $59,000 level. The cryptocurrency broke below that level on Thursday and tested the $58,000 area before bouncing back to close around $59,700. As of 6:55 AM ET on Friday, Bitcoin is trading around $59,300 and poised for its fourth straight red session.

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

Microsoft Corp (MSFT)

+0.88%

Italy’s antitrust authority has opened an investigation into the company over alleged unfair commercial practices related to price increases for its Microsoft 365 subscription. Regulators say Microsoft may not have clearly informed users about the integration of AI tools like Copilot and Designer, potentially limiting consumer choice. Separately, the New York Times reported that Microsoft-backed OpenAI is reportedly leaning toward delaying its planned IPO until 2027, despite previously preparing for a potential public listing as early as the second half of this year. Advisers are urging a slower timeline due to volatile technology markets and concerns stemming from the post-IPO performance of high-profile companies like SpaceX.

DraftKings Inc (DKNG)

+2.72%

Trading sharply higher premarket after launching DKeX, its proprietary prediction markets exchange, expanding its footprint in event-based trading. The company also reported strong early activity, with its Predictions product generating about $3.4 billion in annualized consumer volume and $11.3 billion in total trading volume for the week ending June 21.

Rocket Lab Corp (RKLB)

+1.68%

Trading higher premarket after NASA selected the company to conduct three Electron launches in 2027, including two missions for the PolSIR program from New Zealand and one for the TSIS-2 mission. The rapid booking of the TSIS-2 launch within seven months of signing the contract highlights NASA's confidence in Rocket Lab's ability to meet time-critical launch schedules.

Oil and Energy Stocks

-2.98%

Trading lower as a group as oil prices resume declines following gains on Thursday. Oil prices fell about 3% on Friday morning as more tankers left the Strait of Hormuz, easing immediate supply disruption concerns despite continued geopolitical tensions in the region. On Thursday afternoon, the Wall Street Journal and other outlets reported that Iran attacked a cargo ship in the Gulf of Oman. As of Friday morning, the national security minister of Israel reportedly said that the ceasefire in Lebanon “cannot hold”.

USO, OXY, XOM, CVX, DVN, COP

Nike Corp (NKE)

-0.71%

Trading lower premarket after KeyBanc downgraded the stock to Sector Weight from Overweight, trimming FY27 estimates due to slightly weaker-than-expected conditions in China and EMEA. The firm cited a slower-than-expected turnaround, ongoing marketplace pressures, regional uncertainty, and another management transition. KeyBanc added that it is waiting for a clearer long-term update from the company, likely at an Investor Day.

Uber Technologies Inc (UBER)

+0.02%

On watch after Citizens reiterated a Market Outperform rating on Uber with a $100 price target, noting the stock’s recent underperformance even as it is still viewed as undervalued. The firm highlighted continued growth in Waymo’s rider-only miles, though momentum slowed due to vehicle supply constraints during the transition to next-generation autonomous vehicles and as expansion into new markets like Atlanta began contributing to usage. Uber and Waymo have a strategic partnership through which riders can use the former company’s app to order rides from the latter company.

INLIF Ltd (INLF)

+76.67%

The penny stock is gapping up on no apparent news catalyst. INLIF has a market capitalization of approximately $410,000 and a float of 13 million shares.