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

0800 - Fed’s Bowman speaks
0945 - Chicago PMI for September: Expected 46.1; Prior 46
1300 - Fed Chair Powell speaks

NVIDIA Corp (NVDA)

-2.45%

Trading lower premarket after Reuters reported that ByteDance plans to develop a large-language AI model using Huawei's Ascend 910B chips. The move is reportedly part of ByteDance’s shift towards domestic chip suppliers due to U.S. export restrictions on advanced AI chips like those from Nvidia. ByteDance currently uses Huawei chips for AI inference tasks, though Reuters noted that they are also the largest buyer of Nvidia’s chips designed specifically for the Chinese market.

Crypto Stocks

-3.89%

Trading sharply lower as a group in tandem with Bitcoin. The cryptocurrency traded as high as the $65,500 area early on Monday before falling as low as $63,250. The decline is potentially linked to the expiration of billions of dollars in options contracts tied to Bitcoin, which could lead to increased market activity, according to crypto derivatives exchange Deribit.

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

Chinese ADRs

+4.39%

Chinese stocks saw their largest single-day gains in 16 years during Monday’s session overseas, with the CSI300 blue-chip index surging 8.5% and domestic A-shares hitting record turnover. This recent rally has been driven by Beijing's latest economic stimulus measures. The CSI300 is now up nearly 30% from its February low, entering a bull market, as traders rush to join the rally ahead of a week-long holiday. Chinese EV stocks are especially strong after Nio announced a $1.9 billion cash investment in its subsidiary Nio China, with contributions from strategic investors and Nio itself. The investment supports Nio's expansion into the mass market with its new sub-brand Onvo, which just began deliveries of its first model, the L60.

NIO, XPEV, LI, BABA, BILI, BIDU, DADA, PDD, JD, WB

Amazon.com Inc (AMZN)

-0.48%

On watch after Truist raised its price target for the stock $265 from $230 and maintained a Buy rating. The analyst attributed the upgrade to Amazon’s resilient North American revenue, advertising growth, and improved operating margins despite heavy investments in AI, AWS, logistics, and Project Kuiper. Truist views Amazon as its top mega-cap stock, benefiting from global e-commerce, cloud, AI, digital ads, and logistics.

Stellantis NV (STLA)

-13.51%

The company’s US-listed shares are gapping down following an update to its financial guidance for fiscal 2024. Stellantis lowered its operating margin guidance for the year from double-digit growth to 5.5% to 7% growth; they also lowered their free cash flow guidance to a loss of 5 billion to 10 billion euros after previously guiding positive cash flow. The auto brand cited concerns with its performance in North America and issues with the industry at large as reasons for the lower guidance.

AT&T Inc (T)

+0.91%

Trading higher premarket with volume after announcing plans to sell its 70% stake in DirecTV to private equity firm TPG in a deal valued at $7.6 billion, expected to close in the second half of 2025. This sale provides AT&T an exit from its declining DirecTV business, allowing it to focus on its core wireless and fiber connectivity operations.

CVS Health Corp (CVS)

+3.14%

Trading higher premarket after the Wall Street Journal reported that Glenview Capital Management plans to meet with CVS executives to propose operational improvements. This follows speculation of activist investor involvement, as Glenview's founder, Larry Robbins, has built a large position in CVS. The company recently lowered its profit forecast for the fourth time this year.

Zhongchao Inc (ZCMD)

+79.44%

Trading higher on no apparent catalyst. The stock, which has rallied in the past, has a market capitalization of $3.32 million and a float of 1.66 million shares.