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

0815 - ADP employment change for March: Expected 120k; Prior 77k
1000 - Factory orders m/m for March: Expected 0.3%; Prior 0.4%
1600 - President Trump announces reciprocal tariffs
1630 - Fed’s Kugler speaks

Big Tech

-1.34%

Trading lower as a group as traders await a reciprocal tariffs announcement from President Donald Trump. The announcement is expected to take place on Wednesday at 4:00 PM ET as part of the “Make America Wealthy Again” event. Trump has previously referred to April 2 as “Liberation Day” with regards to tariffs and shared a Truth Social post on Wednesday morning repeating that sentiment. The US administration has expressed that exemptions towards countries or industries will no longer be honored after this date.

MSFT, AAPL, AMZN, GOOGL, PLTR, NVDA

Tesla Inc (TSLA)

-2.50%

Trading lower ahead of the release of its Q1 2025 delivery numbers, expected on Wednesday morning. According to FactSet, analysts on average expect the company to report the delivery of 408,000 vehicles during the quarter, with several analysts lowering their estimates in the weeks before the release. Separately, data from the China Passenger Car Association shows that Tesla sales in China dropped by 11.5% year-over-year in March.

Crypto Stocks

-1.78%

Trading lower premarket in tandem with a pullback in Bitcoin following a strong session on Tuesday. The cryptocurrency and some of its correlated equities, including Strategy, closed near high of day on Tuesday. Bitcoin broke below the $82,000 level early on Wednesday morning and is trading near $85,000 as of 7:20 AM ET, compared to Tuesday’s high above $85,500.

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

Newsmax Inc (NMAX)

-18.03%

Gapping down after another strong showing on Tuesday, its second day of trading as a public company. The stock gained 180% by the end of Tuesday’s session to close at $234, well above its $10 IPO price. As of Tuesday’s close, Newsmax had a market capitalization of $28.3 billion. Waton Financial, which made its market debut under the ticker “WTF” on Tuesday, is also gapping down following a strong initial performance.

Meta Platforms Inc (META)

-1.26%

On watch following a series of reports about the companies AI efforts released on Tuesday afternoon. Bloomberg reported that the company is preparing to launch a premium smart glasses model, code-named Hypernova. The glasses are reportedly priced between $1,000 and $1,400 and feature a built-in screen and hand-gesture controls, offering a more immersive AR experience than the current Ray-Ban Meta Glasses. Additionally, the company’s VP of AI research, Joelle Pineau, announced her resignation from the company.

Hims & Hers Health (HIMS)

-5.41%

Gapping down and poised to give up all of its gains on Tuesday. The stock rallied after Bloomberg reported midday that the company would be offering Eli Lilly’s Zepbound to its customers through its Telehealth platform; the company later announced the offering via a blog post. On Tuesday evening, Eli Lilly released a statement clarifying that it has no affiliation with Hims & Hers, and that Zepbound can be prescribed by any licensed healthcare provider.

IonQ Inc (IONQ)

+1.08%

Trading higher premarket, outperforming its peers in the quantum space. The stock closed almost 5% higher on Tuesday after announcing that its flagship quantum computer, IonQ Forte Enterprise, is now globally available via Amazon Braket and the IonQ Quantum Cloud. This expansion enables industries like life sciences and financial services to leverage quantum computing.

nCino Inc (NCNO)

-33.32%

Gapping down following its Q4 2025 earnings report. The company reported revenue of $141.37 million, above estimates of $140.841 million, but adjusted earnings of $0.12 per share missed estimates of $0.19. nCino provided weaker-than-expected revenue and earnings guidance for both Q1 2026 and fiscal 2026.

Innovation Beverage Group Ltd (IBG)

+175.97%

Gapping up after announcing that the company has expanded its U.S. presence through a distribution deal with Republic National Distribution Company. The partnership opens new distribution channels in six states, including California, one of the largest beverage markets in the country. The stock has a float of 3.04 million shares.

Sunshine Biopharma Inc (SBFM)

+58.17%

Trading higher premarket after announcing its earnings for fiscal 2024. The company reported $34.9 million in revenue for the year, an increase from $24.1 million for fiscal 2023.