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

1000 - Fed’s Waller speaks
1015 - Fed’s Barkin speaks
1400 - Fed’s Kashkari speaks
1700 - Fed’s Harker speaks
1730 - Fed’s Barkin speaks

Crypto Stocks

-1.07%

On watch as a group following a relative pullback in Bitcoin. The cryptocurrency traded above $89,000 on Monday night and is trading just above $87,000 as of Tuesday morning. Crypto stocks and assets have been strong since Donald Trump, who posited himself as a pro-crypto candidate, was elected President of the United States last week.

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

Amazon.com Inc (AMZN)

+0.30%

Trading marginally higher premarket after the Financial Times reported that the company plans to debut its "Trainium 2" AI chips in December. This product aims to enhance data center efficiency, lower costs, and provide an alternative to Nvidia's dominance in AI processors. The initiative aligns with Amazon's broader strategy to strengthen its AI infrastructure, including recent multi-billion-dollar investments in startups like Anthropic and collaborations with companies such as Databricks.

Elon Musk-Associated Stocks

-2.47%

Pulling back as a group following a weeklong rally, starting on November 6 after the election of Donald Trump; Tesla CEO Elon Musk has been a vocal supporter of Trump in recent months. Tesla jumped by 46% over a five-day period ending as of Monday’s close and reclaimed a market cap of $1 trillion during that time. SpaceX, another Musk company, makes up 37.6% of the holdings of Destiny Tech100 (DXYZ), an ETF which rallied following the election and is pulling back sharply.

TSLA, DJT, DXYZ

Shopify Inc (SHOP)

+6.48%

Gapping up following its Q3 2024 earnings report, with sales of $2.162 billion exceeding estimates of $2.113 billion. The company reported 26% year-over-year revenue growth and a free cash flow margin of 19%. Shopify guided Q4 2024 growth in gross profit dollars at a similar rate to that of Q3, and projected Q4 revenue growth at a mid-to-high-twenties percentage year-over-year.

NVIDIA Corp (NVDA)

+0.48%

The company is continuing to receive price target increases and positive analyst notes ahead of its earnings report on November 20. Redburn Atlantic initiated coverage of the stock with a Buy rating and a $178 price target, highlighting AI-driven advancements in foundational software as a catalyst for the next wave of accelerated computing. Mizuho, meanwhile, raised its price target for Nvidia from $140 to $165 due to its believe that the company is poised for a solid performance in 2025.

Chinese ADRs

-2.87%

Trading sharply lower as a group, mirroring a 3.1% drop in the Hang Seng Index and a 1.1% drop for the CSI 300 Index on Tuesday as the yuan fell to a three-month low against the US dollar. The drop has been attributed to reports that some of the individuals likely to join President-elect Donald Trump’s administration have been critical of China, which has led to further concerns about tariffs and geopolitical tensions. Separately, Alibaba has launched an AI-powered search engine called "Accio" for small businesses in Europe and the Americas.

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

On Holding AG (ONON)

+3.76%

The company’s US-listed shares are trading higher premarket after reporting Q3 2024 earnings. Adjusted earnings of $0.17 per share missed estimates of $0.23 per share, but sales of $734.52 million beat estimates of $704.58 million. The company maintained its previous FY 2024 gross margin profit guidance of 60.5% and raised its guidance for net sales for the year.

Sea Ltd (SE)

+7.74%

Gapping up after its earnings report. The company reported GAAP earnings of $0.24 per share, narrowly missing estimates of $0.25, while sales of $4.328 billion beat estimates of $4.076 billion. Sea continues to expect year-over-year GMV growth in the mid-twenties-percentage for fiscal 2024, citing strong growth expectations across all of its businesses.

Retail Favorites

-2.03%

On watch, and seeing an increase in premarket trading volume, after several stocks in the group rallied on Monday without news catalysts. Aviation-related stocks like Spirit Airlines and Joby, both of which have sizeable short floats, were particularly strong amid a decrease in oil prices. Many of these tickers are trading lower premarket, though AMC is poised to open higher.

SAVE, JOBY, AMC SOFI, GME, HIMS, PHUN, SOUN

XBP Europe Holdings Inc (XBP)

+62.82%

Gapping up after Reaktr, the business unit XBP operates with Exela Technologies, announced that its SecAi platform's availability on Oracle Cloud Infrastructure and the Oracle Cloud Marketplace. This move enhances SecAi's accessibility, leveraging Oracle's infrastructure for broader adoption.