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

0830 - Initial jobless claims: Expected 225k; Prior 223k
0830 - GDP q/q (final) for Q4: Expected 2.3%; Prior 2.3%
0830 - Core PCE prices (final) for Q4: Expected 2.7%; Prior 2.7%
0830 - Wholesale inventories m/m for February: Expected 0.7%; Prior 0.8%
1000 - Pending home sales change m/m for February: Expected 1%; Prior -4.6%
1630 - Fed’s Collins and Barkin speak

Auto Companies

-3.44%

Trading sharply lower premarket after President Donald Trump announced a 25% tariff on auto imports, effective April 3. The tariffs have been introduced to increase domestic production, but could likely lead to higher costs for automakers reliant on global supply chains. Analysts from JPMorgan estimate that the tariffs could lead to a $14-billion impact for General Motors and a $6-billion impact for Ford.

GM, F, STLA

NVIDIA Corp (NVDA)

-1.69%

Trading lower premarket after Reuters reported that the company’s H20 AI chips, one of the few advanced processors legally allowed for sale in China, are facing a shortage due to soaring demand. The shortage was reportedly flagged by China’s H3C. With new shipments not expected until mid-April, H3C is prioritizing high-margin customers.

Tesla Inc (TSLA)

+0.53%

Trading marginally higher premarket despite a drop in auto stocks after President Donald Trump announced 25% auto tariffs. Tesla’s stock may be faring better than its peers due to its existing domestic production efforts. Separately, executives from Tesla, Boston Dynamics, and others met with lawmakers on Wednesday to advocate for federal support for robotics research and innovation.

GameStop Corp (GME)

-6.77%

Gapping down after announcing a $1.3-billion proposed private offering of convertible senior notes due 2030. The offering follows a rally on Wednesday, driven by the company’s Q4 2024 earnings report. During the report, GameStop announced that its board has approved the inclusion of Bitcoin as a treasury reserve asset.

Advanced Micro Devices Inc (AMD)

-3.44%

Trading sharply lower premarket after Jefferies downgraded the stock to Hold from Buy, lowering its price target to $120 from $135. The downgrade was attributed to the company’s limited AI traction, overly high Street estimates, and growing competition from Intel. Jefferies’ benchmarking report shows Nvidia’s H200 significantly outperforming AMD’s MI300x, emphasizing Nvidia’s software advantage and predicting a widening performance gap.

NIO Inc (NIO)

-7.82%

Gapping down after announcing a proposed stock offering. The company is looking to offer up to 18.793 million Class A shares in offshore transactions that take place outside the US.

Palantir Technologies Inc (PLTR)

-0.68%

On watch after Reuters reported that the Trump administration is considering deploying battlefield-level AI and satellite surveillance at the U.S.-Mexico border, involving agencies like NGA and NRO. According to the report, Palantir is in talks to support the initiative.

Robinhood Markets Inc (HOOD)

+0.92%

Trading higher premarket after announcing the launch of Robinhood Banking, offering high-yield checking and savings accounts with FDIC insurance up to $2.5 million. The company is also introducing AI-driven investment tools like Robinhood Strategies and Robinhood Cortex to provide personalized portfolios and real-time market insights.

Carvana Co (CVNA)

-1.39%

Trading lower premarket after JPMorgan lowered its price target for the stock to $325 from $365, citing the negative impact of new 25% auto import tariffs on the broader auto retail market. The firm expects vehicle prices to rise by 9%-12%, causing global supply chain disruptions while benefiting used car dealers in the short term.

Greenland Technologies Holding Corp (GTEC)

+80.15%

Gapping up after its FY 2024 earnings report. The company reported earnings of $1.03 per share for the fiscal year, up from a loss of $1.20 per share in 2023. Revenue was reported at $83.94 million, down from $90.33 million on a year-over-year basis. The stock has a float of 6.47 million shares.

Trident Digital Tech Holdings Ltd (TDTH)

+34.43%

Gapping up after announcing a $1 million share buyback program. On Wednesday morning, the company announced strategic partnerships with e-commerce firms Silkoo and Haitu.