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

0830 - PPI m/m for September: Expected 0.1%; Prior 0.2%
0830 - PPI y/y for September: Expected 1.6%; Prior 1.7%
0830 - Core PPI m/m for September: Expected 0.2%; Prior 0.3%
0830 - Core PPI y/y for September: Expected 2.6%; Prior 2.4%
0945 - Fed’s Goolsbee speaks
1000 - UMich consumer sentiment (prelim) for October: Expected 71; Prior 70,1
1045 - Fed’s Logan speaks

Tesla Inc (TSLA)

-6.54%

Gapping down following its “We, Robot” event on Thursday evening. The company unveiled its two-seater robotaxi, the Cybercab, featuring an angular design similar to the Cybertruck, priced under $30,000, and equipped with inductive charging. Alongside the Cybercab, Tesla introduced a robovan for up to 20 passengers, emphasizing autonomous driving with plans to integrate these vehicles into its fleet by 2026 or 2027. Both Uber (UBER) and Lyft (LYFT) are trading sharply higher premarket following the event; earlier this week, Uber CEO Dara Khosrowshahi noted that he believes it will take years for autonomous vehicles to occupy a significant potion of the Uber fleet due to concerns around regulation, costs, and technology.

JPMorgan and Wells Fargo

+2.39%

On watch as a pair following their premarket earnings reports. JPMorgan reported GAAP earnings of $4.37 per share and net revenue of $42.654 billion, beating estimates of $4.00 and $41.649 billion, respectively. Jamie Dimon, the company’s CEO, noted that the bank has an “extraordinarily strong balance sheet” and that buybacks would remain conservative due to the strength of the market. Wells Fargo, meanwhile, reported lower-than-expected revenue of $20.37 billion compared to estimates of $20.41 billion, though GAAP earnings of $1.42 exceeded estimates of $1.28. The bank’s net interest income dropped by 11% on a year-over-year basis to $11.69 billion.

JPM, WFC

Advanced Micro Devices Inc (AMD)

+0.57%

Making modest premarket gains after selling off throughout its “Advancing AI” event on Thursday afternoon, where the company unveiled new high-performance computing solutions like the fifth Gen AMD EPYC server CPUs and Ryzen AI PRO processors. CEO Dr. Lisa Su emphasized significant growth opportunities in AI and data centers, with partners like Google Cloud and Microsoft showcasing large-scale deployment of AMD's AI solutions.

Amazon.com Inc (AMZN)

+0.09%

On watch after Pivotal Research initiated coverage of the stock with a Buy rating and a $260 price target, citing its "deep moat" and unmatched scale in core businesses, especially Amazon Web Services. The firm expects rapid growth in Amazon's advertising business and sees significant potential to boost operating margins through robotics and high-margin cloud computing.

Chinese ADRs

-1.68%

Trading lower as a group, mirroring a 2.4% drop in the CSI 300 Index during Friday’s session in China. This selling could reflect uncertainty and profit-taking ahead of a meeting for China’s Ministry of Finance on Saturday, during which a discussion of stimulus measures is expected. The week ending October 11 marked the worst weekly performance for Chinese stocks since July.

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

Crypto Stocks

+1.25%

Trading higher as a group in tandem with a relative bounce in Bitcoin. The cryptocurrency, which briefly dipped below $59,000 on Thursday, is trading above $61,000 as of Friday morning. Ethereum has also made marginal gains and is trading above the $2,400 level.

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

Affirm Holdings Inc (AFRM)

+3.21%

Trading higher premarket after receiving an upgrade from Wells Fargo. The analyst raised its rating for Affirm to Overweight and hiked its price target from $40 to $52, citing its strong ability to gain e-commerce checkout market share long-term. Wells Fargo highlighted its belief that the company is nearing GAAP profitability, making the stock's valuation more appealing and Affirm an investable "structural winner." Affirm received upgrades from both BTIG Research and Morgan Stanley earlier this week.

Trump Media & Technology Group (DJT)

+13.06%

Gapping up after gaining 17% during Thursday’s session. The stock is up 140% from its post-merger low on September 24. On Thursday morning, the company announced its Truth+ streaming app is now available to download on the Google Play store. Donald Trump, Trump Media’s majority shareholder and the Republican candidate for President of the United States, announced plans on Thursday to offer expanded R&D tax credits and allow U.S. carmakers and manufacturers to write off 100% of their heavy machinery and equipment costs in the first year.

ZenaTech Inc (ZENA)

+77.40%

On Thursday morning, the company announced that its subsidiary, ZenaDrone, has launched the IQ Nano as part of its IQ series of indoor/outdoor drones. The IQ Nano is aimed at enhancing cost efficiency and productivity in sectors like warehousing and logistics. ZenaTech has a float of 1.93 million shares.