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

0815 - ADP employment change for September: Expected 125k; Prior 99k
0900 - Fed’s Hammack speaks
1005 - Fed’s Musalem speaks
1100 - Fed’s Bowman speaks
1130 - Fed’s Barkin speaks

Nike Inc (NKE)

-7.49%

Gapping down following its earnings report. Earnings of $0.70 per share beat estimates of $0.52, but revenue of $11.59 billion missed expectations of $11.65 billion. The company reported a 13% decrease in direct revenues and an 8% decrease in wholesale revenues for the quarter. Additionally, Nike announced it would be revoking its prior guidance for fiscal 2025 as new CEO Elliot Hill prepares to step into the role on October 14.

Tesla Inc (TSLA)

-0.36%

On watch ahead of the release of its Q3 2024 delivery numbers, which are expected to be reported on Wednesday. According to consensus estimates, Tesla is expected to report the delivery of roughly 463,310 vehicles during the quarter, which would mark a 6.5% increase on a year-over-year basis. Goldman Sachs analysts noted that they expect Tesla’s results to meet expectations, while Wells Fargo forecasted deliveries below the consensus estimate. Tesla’s deliveries for Q1 and Q2 showed year-over-year declines.

Chinese ADRs

+4.36%

Trading sharply higher as a group following a strong performance overseas. The Hang Seng China Enterprises Index rose by 7.1% during Tuesday’s session, marking its longest winning streak in 13 days and its best single-day performance in two years. The recent resurgence in Chinese stocks has been driven by stimulus measures, initially announced on Tuesday, September 24. Mainland Chinese markets remain closed for a holiday and will reopen on October 8.

NIO, XPEV, LI, BABA, BIDU, BILI, PDD, JD, FUTU, TME, DADA

Crypto Stocks

-1.26%

Trading lower as a group in tandem with declines in Bitcoin and Ethereum. Both cryptocurrencies, and the majority of the crypto space, traded lower on Tuesday as the markets reacted to news of escalating geopolitical tensions. Bitcoin is trading just above $61,000 as of Tuesday morning, while Ethereum is trading near $2450.

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

Alphabet and Snap Inc

-0.26%

On watch as a pair after the European Commission requested YouTube, Snapchat, and TikTok to provide detailed information on how their recommender systems function under the Digital Services Act (DSA), with a focus on risks related to mental health, harmful content, and civic discourse. The platforms must submit this information by November 15, after which the Commission will assess further actions, potentially leading to formal proceedings under the DSA.

GOOGL, SNAP

Trump Media & Technology Group (DJT)

-2.17%

Trading lower premarket following the 2024 US Vice-Presidential debate between JD Vance and Tim Walz, which took place on the eve of October 1, 2024. This is the last debate before the presidential election on November 5 between Republican candidate Donald Trump, majority DJT shareholder and former US President, and current Vice President and Democratic candidate Kamala Harris.

Travel Stocks

-1.57%

Continuing to trade lower as a group following the escalation of geopolitical tensions in the Middle East. Iran launched missiles into Israel on Tuesday, heightening ongoing tensions in the region and raising concerns about travel demand across the globe. Countries including Israel and Jordan temporarily blocked air travel on Tuesday in response to the situation.

CCL, AAL, DAL, NCLH, RCL, ALK, LUV, HA, SAVE, JBLU

Humana Inc (HUM)

-25.57%

Gapping down after providing updates to its 2025 Medicare Advantage and Prescription Drug Plan offerings, which include new vision coverage, comprehensive dental care, and a $2,000 cap on out-of-pocket drug costs. Humana's preliminary 2025 Medicare Advantage Star Ratings show a sharp decline, with only 25% of members enrolled in plans rated 4 stars or higher, down from 94% in 2024. A key factor was the downgrade of contract H5216 from 4.5 to 3.5 stars, which will negatively affect Humana's quality bonus payments in 2026.

Mobileye Global Inc (MBLY)

-2.98%

Trading lower premarket after Exane BNP Paribas downgraded the stock to Underperform from Neutral with a $12 price target, citing 2024 as a "major reset" year for the company. The firm expects another "clearing-the-decks" event, lowering its FY25-FY27 sales and EBIT estimates by 13% and 17%, respectively, below consensus.

Treasure Global Inc (TGL)

+20.05%

Trading sharply higher premarket after announcing that it has terminated its previously-announced at-the-market equity offering. The stock, which has rallied in the past, has a market capitalization of $2.24 million and a float of 1.35 million shares.