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

0855 - Fed’s Logan speaks
1030 - CB leading index m/m for September: Expected -0.1%; Prior -0.2%
1300 - Fed’s Kashkari speaks
1705 - Fed’s Schmid speaks
1300 - Fed’s Daly speaks

Tesla Inc (TSLA)

-1.07%

On watch ahead of its earnings report, which is scheduled after the bell on Wednesday, October 23. Analysts are looking for the company to post revenue of $25.55 billion and earnings of $0.58 per share for Q3 2024. Tesla has been on watch in recent weeks amid its “We, Robot” event on October 10, where it unveiled its Cybercab, and a probe from the National Highway Traffic Safety Association concerning 2.4 million of the company’s vehicles.

The Boeing Company (BA)

+2.90%

Trading higher after arriving at a new contract proposal with its machinists’ union that could end a month-long strike. The contract, which is to be put to a ratification vote on Wednesday, includes a 35% wage increases over four years, a $7,000 signing bonus, and improved benefits. Boeing also announced the order of five additional 777 Freighters from Emirates SkyCargo, expanding their total widebody aircraft orders to 249. The company is scheduled to report earnings before the bell on Wednesday, October 23.

Microsoft and Salesforce

-0.65%

At its “AI Tour” event on Monday, Microsoft announced that it will allow businesses to create autonomous AI agents through Copilot Studio starting next month, expanding access to tools previously available in private preview. These AI agents, acting as virtual workers that perform tasks autonomously, mark a shift in AI functionality. Microsoft also plans to introduce 10 new autonomous agents within its Dynamics 365 suite. These announcements put the company in competition with Salesforce, which is trading lower premarket and announced similar tools last month.

MSFT, CRM

Crypto Stocks

+0.79%

On watch as a group as Bitcoin continues to consolidate near the key $70,000 level. The cryptocurrency reached above $69,400 early on Monday before pulling back to trade below the $68,500 level. Ethereum, meanwhile, is up more than 2% as of Monday morning and has reclaimed $2,700.

CLSK, RIOT, HUT, MARA, IBIT, ETH, COIN, MSTR

Chinese ADRs

-2.29%

Trading lower as a group despite a 0.3% gain for the CSI 300 Index on Monday. Commercial banks announced larger-than-expected cuts for their one-year and five-year loan prime rates, while the People’s Bank of China announced that it has made loan commitments for 32 companies as part of its previously-announced plan to support share buybacks. Chinese stocks and their US-listed counterparts participated in a two-week rally starting on September 24 amid renewed hopes of an economic stimulus, but pulled back after indications that the stimulus would be smaller than expected. Separately, JD.Com is on watch after Loop Capital upgraded the stock from Hold to Buy and dropped its price target from $49 to $48.

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

Trump Media & Technology Group (DJT)

+1.42%

Trading higher premarket following a volatile week of trading that saw the stock clinch a four-week winning streak. The stock is receiving additional attention in the run-up to the 2024 presidential election on November 5 as its majority shareholder and namesake, Donald Trump, is the Republican nominee for US President. Trump Media has also made several product-related announcements in recent weeks, including the launch of its streaming service and streaming app.

Spirit Airlines Inc (SAVE)

+36.73%

Gapping up after extending its 2025 notes deadline to December 23 and early maturity date to March 3, amid ongoing renegotiations with the U.S. National Bank Association over payment processing agreements. The company is also forecasting over $1 billion in liquidity by the end of 2024, according to an SEC filing. Spirit's stock has dropped over 90% in the past year, with concerns about potential bankruptcy looming.

Bright Minds Biosciences Inc (DRUG)

+10.17%

Trading sharply higher premarket amid an influx of retail attention. The stock gained 117% on Friday after announcing a $35 million non-brokered private placement, though it began rallying on Monday and Tuesday. On Wednesday, October 16, healthcare-focused hedge fund Perceptive Advisors reported a 9.6% passive stake in the company through an SEC filing. As of Monday morning, Bright Minds has a market capitalization of $210.56 million and a float of 2.88 million shares; 35.48% of the float is insider-owned, and 2.96% is sold short.

GRI Bio Inc (GRI)

+191.66%

Gapping up on no apparent news catalyst. The company has a market capitalization of $1.7 million and a float of 2.92 million shares, 5.8% of which are sold short.

Siyata Mobile Inc (SYTA)

+131.68%

Gapping up after announcing that its next-generation SD7 Ultra series 5G mission-critical push-to-talk handsets will be available on T-Mobile's 5G network, enhancing nationwide radio communications for public safety officials. The stock has a short float of 31.3% and a total float of 800,000 shares; the company’s market capitalization is $810,000.