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

1000 - UMich consumer sentiment for May: Expected 48.2; Prior 48.2
1000 - UMich 5-yr inflation expectations for May: Expected 3.4%; Prior 3.4%
1000 - UMich 1-yr inflation expectations for May: Expected 4.6%; Prior 4.5%
1000 - Fed’s Waller speaks

Oil and Energy Stocks

+0.93%

On watch after trading with heightened volatility on Thursday as traders assessed a series of reports about a draft agreement between the US and Iran. Oil futures and related equities spiked lower on Thursday afternoon after Al Arabiya TV reported that the US and Iran were to announce a draft agreement in a matter of hours; subsequent reports from Al Jazeera suggested the draft agreement was still in the works and is not guaranteed. US Secretary of State Marco Rubio indicated that any efforts on Iran’s part to permanently take control of the Strait of Hormuz would be “unfeasible”.

USO, XOM, OXY, DVN, COP, CVX, RE, BATL, EONR

UP Fintech Holdings and Futu Holdings

-36.21%

The China Securities Regulatory Commission has launched investigations into, and proposed penalties against, the company as part of a two-year crackdown on unauthorized cross-border securities, futures and fund services. Regulators allege the firms illegally offered brokerage, margin financing and fund sales services in mainland China. Existing mainland users on unauthorized platforms will only be allowed to sell holdings and withdraw funds, with no new purchases or deposits permitted before the platforms are ultimately shut down for mainland-facing operations.

TIGR, FUTU

Estée Lauder Companies Inc (EL)

+9.82%

Gapping up after ending merger discussions with Puig. The deal would have created a major global beauty group to compete more directly with L'Oréal. Estée Lauder announced that it will continue focusing on its “Beauty Reimagined” turnaround strategy under CEO Stéphane de La Faverie. This strategy is aimed at reversing declining sales and improving market share through store investments and closures of underperforming locations.

Advanced Micro Devices Inc (AMD)

+1.98%

CEO Lisa Su said the company is working with partners in Taiwan to rapidly expand CPU production capacity after AI-driven demand far exceeded expectations, tightening the global CPU market. AMD expects supply to improve each quarter through 2026 and beyond, while investing over $10 billion in Taiwan’s AI ecosystem to expand advanced chip packaging, manufacturing and rack-scale system capacity. The company continues serving Chinese customers within US export-control limits.

Webull Corp (BULL)

-0.15%

On watch after its Q1 2026 earnings report, with total revenue and trading-related revenue each rising by 36% year-over-year. Basic adjusted earnings per share dropped from $0.21 to $0.03 on a year-over-year basis. Customer assets climbed by 24% to $24 billion, while net deposits rose by 91%.

Coinbase Global (COIN)

-0.29%

The company announced plans to launch its first CFTC-regulated perpetual stock index futures on June 8. The offerings will include AI10, China10, Defense10 and Tech100 thematic contracts tied to AI, Chinese ADRs, defense and Nasdaq technology stocks. The cash-settled products will offer 24/7 trading, centralized liquidity and favorable 60/40 futures tax treatment, giving investors compliant exposure to thematic equity trades. Coinbase plans to eventually expand access to retail traders.

Merck & Co Inc (MRK)

+3.21%

Trading higher premarket after a mid-stage trial showed that Moderna and Merck’s personalized cancer vaccine combined with Keytruda reduced the risk of melanoma spreading by 59% over five years. The treatment also significantly improved overall survival compared to the use of Keytruda alone. Separately, Merck reported positive late-stage results in advanced lung cancer from a combination therapy with Sichuan Kelun-Biotech. The results reinforce Keytruda’s role as a backbone treatment in multiple cancer regimens.

Palantir Technologies Inc (PLTR)

+0.11%

Cantor Fitzgerald weighed in on the stock after meeting with its CFO and chief architect, saying it is increasingly bullish on the company’s position to benefit from long-term AI adoption in both commercial and government markets. The analyst attributed the position in part to strong traction for Palantir’s enterprise AI “ontology” and orchestration platform. Despite expecting continued customer growth, expanded use cases, and stable government demand, the firm maintained a Neutral rating on Palantir due to valuation concerns.

Zoom Communications Inc (ZM)

+7.49%

Gapping up after its Q1 2027 earnings report, with revenue of $1.239 billion and adjusted EPS of $1.55 beating estimates of $1.22 billion and $1.42, respectively. Enterprise revenue grew by 7.2% year-over-year to $755.7 million. The company projected FY 2027 revenue between $5.08 billion and $5.09 billion, above estimates of $5.07 billion. Its FY 2027 adjusted EPS outlook of $5.96-$6.00 similarly beat estimates of $5.87.

Workday Inc (WDAY)

+7.71%

Gapping up after its Q1 2027 earnings report. Revenue grew by 13.5% year-over-year to $2.542 billion, beating estimates of $2.52 billion, while adjusted earnings of $2.66 per share beat estimates of $2.52. Subscription revenue grew by 14.2% year-over-year, twelve-month subscription backlog grew by 15.5%, and total subscription backlog improved by 10.9%. The company projected subscription revenue of $2.455 billion for Q1 2027, implying 13% year-over-year growth.

NVIDIA Corp (NVDA)

+0.22%

NVentures, the company’s venture arm, invested in French quantum-computing startup Alice & Bob as part of the company’s €100 million Series B round. The investment deepens an existing partnership focused on building fault-tolerant quantum systems using “cat qubit” technology to reduce errors. This news comes one day after the US government entered into investment agreements with a handful of quantum companies.

Apple Inc (AAPL)

+0.09%

The company has asked the US Supreme Court to review a lower court ruling that found it in civil contempt over App Store fees tied to external purchases, escalating its long-running legal battle with Epic Games. Apple argues the injunction should not apply broadly to all developers since the case involves only Epic, and that it cannot be held in contempt for violating the “spirit” of an order that did not explicitly prohibit its conduct.

Take-Two Interactive (TTWO)

+1.50%

On watch after its Q4 2026 earnings report, during which the company stated that Grand Theft Auto VI remains on track to be released in November of 2026. Revenue came in at $1.68 billion, beating estimates of $1.57 billion, while losses were reported at $0.32 per share. Take-Two projected Q1 2027 revenue between $1.45 billion and $1.5 billion and guided FY 2027 revenue of $7.9 billion-$8.1 billion; both projections fell short of analyst estimates.

Qtrex Quantum Ltd (QTEX)

+36.98%

Trading sharply higher premarket. The company, formerly known as Inspira Technologies (IINN), began trading as QTEX under its new business name on Wednesday, May 20. The new ticker coincided with the company’s push towards quantum connectivity. The company has a market capitalization of $13.2 million.