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

0830 - NY Fed manufacturing for October: Expected 3.6; Prior 11.5
1130 - Fed’s Daly speaks
1305 - Fed’s Kugler speaks

Apple Inc (AAPL)

+1.11%

Trading higher premarket after data from Canalys indicated that the company set a new sales record for its iPhone in Q3 2024. According to Canalys, Apple has captured an 18% market share alongside Samsung, which saw a 3% dip year-over-year. Apple’s strong performance, bolstered by demand for the iPhone 15 series and the launch of the iPhone 16, contributed to the global smartphone market's 5% growth in the quarter. 

NVIDIA Corp (NVDA)

-0.56%

On watch after hitting a new all-time closing high of $138.07 on Monday ahead of earnings season, during which market participants are expecting updates on AI infrastructure spending from key customers. Nvidia’s stock has surged nearly 180% in 2024, driven by demand for the company’s GPUs, which play a critical role in powering generative AI applications.

Major Banks

+3.39%

Trading higher as a group as market participants react to pre-market reports from institutions like Goldman Sachs, Charles Schwab, Bank of America, and Citigroup. Goldman Sachs reported adjusted earnings of $8.40 per share and sales of $12.7 billion, both of which sharply exceeded expectations of $7.03 and $11.878 billion, respectively. Schwab also beat EPS and sales estimates, additionally reporting that its client assets jumped by 27% on a year-over-year basis for Q3. Bank of America’s adjusted sales came in at $25.492 billion compared to estimates of $25.29 billion, with GAAP earnings of $0.81 per share similarly beating estimates of $0.78. Citigroup reported adjusted earnings of $1.51 per share, above estimates of $1.31, and sales of $20.3 billion exceeded expectations of $19.84 billion.

GS, SCHW, BAC, C, MS, WFC, JPM

The Boeing Company (BA)

+0.72%

Trading higher premarket after announcing that it has entered a supplemental credit agreement valued at $10 billion dollars. The company has also filed for a mixed shelf offering of up to $25 billion, according to an SEC filing.

Chinese ADRs

-4.76%

Trading sharply lower as a group, mirroring sharp losses during Tuesday’s session in China. The CSI 300 Index dropped 2.7%, while Hong Kong-listed Chinese shares fell 4%. The weakness in Chinese stocks reflects growing doubts over whether Beijing's stimulus measures will be sufficient to counter deflation and a property crisis.

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

Trump Media & Technology Group (DJT)

+6.58%

Gapping up after gaining more than 18% by Monday’s close. The company’s stock price has rebounded from recent lows as election betting odds shift in the favor of Donald Trump, the company’s majority shareholder and the Republican presidential nominee. The stock’s rise also coincided with the launch of a new streaming site and an influx of trading volume, with more than 57 million shares exchanged on Monday.

Walgreens Boots Alliances Inc (WBA)

+5.56%

Trading sharply higher premarket following its earnings report, with adjusted earnings of $0.39 per share and sales of $37.547 billion exceeding expectations of $0.36 and $35.755 billion, respectively. The company announced that it its looking to close roughly 1,200 stores over a three-year period as part of its Footprint Optimization Program, with 500 of those store closures expected to take place during fiscal 2025.

Banzai International Inc (BNZI)

+54.05%

Gapping up on no apparent catalyst. The stock, which has rallied in the past, has a market capitalization of $11.95 million and a float of 750,000 shares, approximately 17% of which are sold short. Additionally, Banzai announced on Wednesday, October 9 that it is expecting to boost its net income by roughly $13.5 million due to a series of strategic initiatives.