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

0830 - Fed’s Bostic speaks
0845 - Fed’s Jefferson and Fed’s Williams speak
1315 - Fed’s Logan speaks
1330 - Fed’s Kashkari speaks
1445 - Fed’s Bostic speaks
1500 - President Trump attends a bill signing ceremony

Big Tech and Semiconductors

-2.32%

Trading lower as a group after Moody’s downgraded the U.S. sovereign credit rating from Aaa to Aa1. Moody’s attributed citing persistent fiscal deficits, rising debt levels, and higher interest costs, bringing it in line with other major rating agencies. The downgrade may slightly raise borrowing costs and weigh on investor sentiment, as evidenced by a rise in Treasury yields and a dip in both bond and stock ETFs following the announcement.

AMZN, META, GOOGL, SMCI, AVGO

NVIDIA Corp (NVDA)

-2.74%

On watch after CEO Jensen Huang delivered a keynote speech at Computex 2025. Huang unveiled an ambitious AI roadmap, including personal AI supercomputers, the RTX 5060 GPU, NVLink Fusion interconnect tech, and a major AI infrastructure hub in Taiwan in partnership with firms like Foxconn and TSMC. Emphasizing Nvidia's evolution into a global AI infrastructure leader, Huang also introduced new platforms for robotics, climate modeling, and deep learning, while celebrating his deep ties to Taiwan.

UnitedHealth Group Inc (UNH)

+5.03%

Continuing to trade higher after a strong showing on Friday. The stock closed 6.4% higher after directors Timothy Flynn, Kristen Gil, and John Noseworthy all disclosed share purchases via SEC filings; Stephanie Link of Hightower Advisors also announced that she added to her position on CNBC. UnitedHealth dropped sharply early last week after CEO Andrew Witty announced his resignation and the company suspended guidance for the fiscal year.

Microsoft Corp (MSFT)

-0.72%

On watch ahead of its annual developer conference in Seattle, set to begin on Monday, May 19. The event is scheduled to kick off with a keynote from CEO Satya Nadella at 11:45 AM ET. As AI demand in its Azure cloud grows, the company is also recalibrating its partnership with OpenAI, signaling a shift toward becoming a neutral platform provider in the broader AI landscape.

Advanced Micro Devices Inc (AMD)

-2.54%

The company announced it will sell ZT Systems' Data Center Infrastructure Manufacturing Business to Sanmina in a deal valued at $3 billion, paid in cash and stock. The move is aimed at streamlining AMD's operations while allowing Sanmina to expand its presence in the data center infrastructure market. AMD is set to present at Computex 2025 on Tuesday, May 20.

Chinese ADRs

-1.98%

Trading lower as a group as investors react to disappointing Chinese economic data and Moody’s downgrade of the U.S. credit rating. China’s retail sales grew just 5.1% in April, missing expectations, while industrial output rose 6.1%, easing from March and suggesting a milder-than-feared impact from U.S. tariffs. Both the Hang Seng Index and the CSI 300 Index closed slightly lower on Monday in overnight trading.

BABA, BILI, BIDU, JD, PDD, LI, XPEV, NIO, FXI, KWEB

Crypto Stocks

-2.11%

Trading lower as a group in tandem with a drop in Bitcoin. The cryptocurrency reached a high above $107,100 on Monday morning, its highest level since late January 2025, but has since given up those gains. Bitcoin is trading below Sunday’s low, near $103,000, as of 7:40 AM ET.

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

Apple Inc (AAPL)

-1.54%

On watch after Xiaomi founder Lei Jun announced that the company plans to invest at least 50 billion yuan ($6.93 billion) over a decade in chip design to boost semiconductor self-sufficiency. The move comes amid tightening U.S. chip sanctions, with Xiaomi aiming to reduce reliance on foreign suppliers like TSMC as it maintains its position as the world’s third-largest smartphone maker. Xiaomi is a rival to Apple in China and is in third place when it comes to global smartphone sales; Apple holds the first-place spot.

Tesla Inc (TSLA)

-3.71%

Electrek reported that the company is now accepting trade-ins for the Cybertruck, offering significantly reduced values—such as $65,400 for a $100,000 Foundation Series model—just a year after launch. The move comes amid sluggish sales and over 10,000 unsold units, prompting the company to shift marketing toward traditional pickup buyers with new, lower-priced trims.

Qualcomm Inc (QCOM)

-1.13%

The company announced plans to re-enter the data center market with custom CPUs designed to power AI workloads and integrate with Nvidia’s GPUs and software, leveraging its 2021 acquisition of Nuvia. CEO Cristiano Amon highlighted the long-term growth potential of the AI infrastructure market and said Qualcomm aims to bring disruptive technology to a highly competitive space dominated by Intel, AMD, and major cloud providers.

ZIM Integrated Shipping Services Ltd (ZIM)

+1.20%

Trading higher premarket after its Q1 2025 earnings report. The company reported earnings of $2.45 per share and sales of $2.01 billion, beating estimates of $1.87 and $1.85 billion, respectively. Approximately 20.2% of the stock’s float is sold short.

Novavax Inc (NVAX)

+15.76%

Gapping up after receiving FDA approval for the Biologics License Application (BLA) of its COVID-19 vaccine. The company restated research and development costs, as well as selling, general, and administrative expenses, to fall between $475 million and $525 million for the fiscal year; they expect these costs to drop each year in 2026 and 2027.

Protagenic Therapeutics Inc (PTIX)

+70.30%

Gapping up after announcing a business combination with Phytanix. After the combination, Phytanix shareholders will own approximately 65% of the stock. Protagenic has a float of approximately 440,000 shares.