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

0830 - Building permits (prelim) for August: Expected 1.41M; Prior 1.406M
0830 - Housing starts for August: Expected 1.318M; Prior 1.238M
1400 - FOMC rate decision: Expected 5.25%; Prior 5%
1430 - FOMC press conference w/ Fed Chair Powell

Alphabet Inc (GOOGL)

+0.87%

Trading higher premarket after Europe's second-highest court annulled a 1.49 billion euros fine against the company due to procedural errors in assessing contractual clauses. The court otherwise upheld most of the European Commission's findings against Google for hindering rivals in online search advertising. This decision is part of a series of fines totaling 8.25 billion euros imposed on Google by the European Commission.

NVIDIA Corp (NVDA)

+0.29%

Trading marginally higher premarket after William Blair initiated coverage of Nvidia with an Outperform rating, highlighting Nvidia's strong position in parallel computing systems due to increasing demand in AI and other tech sectors. The analyst pointed out Nvidia's significant growth in data center revenue, projecting substantial expansion continuing into fiscal 2025, with expectations of surpassing $110 billion in revenue from $15 billion in fiscal 2023.

Palantir Technologies Inc (PLTR)

-1.18%

Trading lower premarket after SEC filings revealed that CEO Alex Karp has sold roughly $325 million worth of company stock in several transactions this week. On September 16, he sold 4.5 million shares at an average price of $36.0697, totaling approximately $162.3 million. On September 17, Karp sold an additional 4.25 million shares at prices ranging from $36.2611 to $37.04, amounting to about $154.4 million, along with 205,227 shares at $37.04 each. The stock has been rallying ahead of its addition to the S&P 500, effective Monday, September 23.

Meta Platforms Inc (META)

+0.26%

On watch after the Financial Times reported that the company facing a substantial fine from EU regulators for allegedly using its Marketplace services to unfairly dominate the classified advertising market, linking them with its social network to disadvantage competitors. The European Union's decision on this matter, expected as soon as next month, would represent a significant regulatory action under outgoing competition chief Margrethe Vestager.

Microsoft Corp (MSFT)

+0.48%

The company announced a partnership with BlackRock to establish a more than $30 billion fund aimed at investing in artificial intelligence infrastructure, focusing on data centers and energy projects. The partnership has potential to mobilize up to $100 billion, including debt financing, with investments primarily in the United States and additional allocations in partner countries.

Crypto Stocks

-0.67%

Trading lower as a group following a pullback in Bitcoin. The cryptocurrency broke above the $61,000 level on Tuesday before retreating, and is trading just below $60,000 as of Wednesday morning. Ethereum is also trading marginally lower after rallying alongside Bitcoin during Tuesday’s session.

BITO, IBIT, ETHE, MARA, CLSK, MSTR, RIOT, COIN, HUT

Super Micro Computer Inc (SMCI)

+0.71%

Trading higher premarket after Needham initiated coverage of the stock with a Buy rating and a price target of $600, emphasizing the company's pioneering role in GPU-based compute systems and liquid cooling solutions, which are poised to benefit from increasing investments in AI infrastructure. Needham highlighted Super Micro's strong ties with Nvidia and its expertise in liquid cooling technology, noting it as a strategic advantage for expanding market share in the semiconductor industry. Super Micro’s stock has been in focus since late August, when the company delayed its annual report following a short report from Hindenburg.

Intuitive Machines Inc (LUNR)

+52.78%

Trading sharply higher premarket after receiving a contract from NASA Near Space Network valued at up $4.82 billion. The stock, which has rallied in the past, has a 10% short float.

Portage Biotech Inc (PRTG)

+173.72%

Gapping up after receiving an influx of attention on social media. The stock has a $4.75 million market capitalization and a float of 667,000 shares, roughly 4.5% of which are sold short.