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

0830 - Weekly Mortgage Applications: Actual: 235.7; Prior: 238.5
0855 - Johnson Redbook Retail Sales Index: Prior: 5.6%

1000 - Richmond Fed Business Activity Survey: Forecast: -9; Prior: -13.

Nvidia Corp.

+0.59%

Nvidia reports earnings after the bell with Wall Street expecting $0.73 EPS on $43.34B revenue, but all eyes are on a potential $5.5B write-down tied to unsellable H20 chips blocked by U.S. export restrictions to China. Analysts warn consensus estimates may be "stale", underpricing the hit from the sales ban, with $1B of the charge likely booked in Q1 and the rest in Q2. Nvidia is lobbying for licenses to resume H20 exports, but risks grow that China will accelerate domestic chip development. Traders should watch NVDA for post-earnings volatility, with ripple effects likely across the broader semiconductor space.

NVDA, AMD, INTC, AVGO, TSM

Bitcoin

-0.98%

U.S. Vice President JD Vance will become the first sitting VP to publicly support Bitcoin, delivering a keynote at the Bitcoin 2025 Conference on May 28. His remarks will focus on financial independence, tech innovation, and Bitcoin’s role in U.S. economic policy—echoing rising GOP crypto alignment after Trump’s 2024 appearance. Vance personally holds $250K–$500K in BTC, has criticized SEC overreach, and advocates for decentralized finance. The speech adds to Bitcoin’s political legitimacy ahead of the 2025 election cycle. Traders should watch for bullish sentiment in BTC and crypto-related stocks like COIN, RIOT, and MARA following this high-profile endorsement.

BTC, ETH, MARA, RIOT, COIN, MSTR

Macy’s Inc.

+1.74%

Macy’s beat Q1 expectations with $0.16 EPS vs $0.14 est. and $4.60B revenue vs $4.50B est., but cut full-year EPS guidance to $1.60–$2.00 (from $2.05–$2.25) citing tariffs, promotions, and softer discretionary spending. While total sales and comps declined, Bloomingdale’s (+3.8%) and Bluemercury (+1.5%) showed strength, and Macy’s revamped “First 50” store initiative outperformed broader trends. Despite macro headwinds and tariff risks, shares rose premarket and could stay volatile as traders listen for tariff strategy clarity and assess turnaround traction across key banners. Macy’s remains a high-beta recovery play with execution risk.

M

Dick’s Sporting Goods Inc.

+1.02%

Dick’s Sporting Goods reaffirmed its FY25 guidance of $13.80–$14.40 EPS and $13.6B–$13.9B in revenue, beating Q1 revenue estimates ($3.17B vs $3.13B) and posting $3.37 EPS adjusted, excluding Foot Locker-related charges. The company’s $2.4B acquisition of Foot Locker is expected to close in H2 FY25, with projected EPS accretion and $100M–$125M in synergies, though the stock dropped ~15% on deal skepticism. With strong fundamentals, steady growth, and tariff impacts already baked in, traders should monitor Dick’s for a potential rebound, especially if Foot Locker integration hits targets.

DKS

OKTA Inc.

-9.36%

Okta beat on both earnings ($0.86 EPS vs $0.77 est.) and revenue ($688M vs $680M est.) with strong YoY growth (+12%) and a swing to profitability, but shares plunged 11% after-hours as the company maintained cautious full-year guidance amid macro uncertainty. CEO Todd McKinnon noted more conservative customer behavior and held FY revenue outlook at $2.85B–$2.86B, while slightly raising operating income targets. RPO came in above expectations at $2.23B vs $2.19B est., signaling healthy demand. Traders should watch post-call sentiment for clues on whether strong execution can offset guidance caution.

OKTA

Amazon.com Inc & Stellantis NV

-1.05%

Amazon and Stellantis have officially ended their high-profile SmartCockpit software partnership, dealing a blow to both companies’ ambitions in the connected car space. Initially set to launch in 2025–26, the platform was meant to rival Tesla’s in-car tech but struggled due to Stellantis’s complex multi-brand structure and broader legacy challenges. While Stellantis will continue using AWS and Alexa, most of Amazon’s Digital Cabin team has been reassigned, and Stellantis may pivot to Google’s Android Auto OS. With Stellantis shares down ~40% YTD and a new CEO stepping in, traders should watch for auto-tech realignments, especially around AMZN, GOOG, TSLA, and STLA.

AMZN, STLA

United States Steel Corp.

-0.08%

Nippon Steel is set to acquire U.S. Steel (X) for $55/share, with Trump clearing the deal and framing it as a U.S.-controlled “partnership.” The agreement includes a $14B investment, with $2.4B earmarked for Mon Valley, expected to save 10K jobs and create another 10K in construction. U.S. Steel will retain a U.S. CEO and board majority, with a “golden share” giving the U.S. government veto rights on key decisions. While shares of X jumped over 20% Friday, the United Steelworkers union remains cautious, citing trade concerns. Traders should monitor X and other steel names (CLF, NUE) as the deal proceeds toward closure and political headlines continue to drive momentum.

X

Ford Motor Co.

+0.15%

Ford (F) is recalling over 1.07 million vehicles in the U.S. due to a rearview camera software glitch affecting key models including the F-150, Bronco, Escape, and Mach-E. The issue stems from a faulty APIM module that may cause the camera feed to freeze or not display, increasing crash risk. A free over-the-air software update is planned, with full fixes expected by Q3 2025. While the recall likely won’t hit Ford financially due to its OTA approach, it raises concerns over infotainment system reliability. Traders should watch for short-term headline risk on F shares and rising scrutiny across the auto-tech landscape.

F, GM, STLA

Spero Therapeutics Inc.

+222.58%

Spero Therapeutics (SPRO) and GSK ended their Phase 3 trial of tebipenem HBr early after meeting its primary endpoint of non-inferiority to IV antibiotics in treating complicated UTIs, with no new safety concerns across 1,690 patients. The drug could become the first oral carbapenem available in the U.S., positioning it as a potential game-changer in outpatient infectious disease treatment. An FDA filing is planned for H2 2025, and the news could act as a bullish near-term catalyst for SPRO, with traders watching for regulatory progress, partnership updates, and speculative upside. The company has a 40.51 million share float, and a short float of 1.59%.

SPRO, GSK