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

0900 - Fed’s Musalem speaks
1000 - JOLTs job openings for July: Expected 7.379M; Prior 7.437M
1000 - Factory orders m/m for July: Expected -1.3%; Prior -4.8%
1330 - Fed’s Kashkari speaks
1400 - Fed’s Beige Book

Alphabet Inc (GOOGL)

+6.36%

The stock is poised to open at an all-time intraday high after Judge Amit Mehta ruled Google will not be forced to divest Chrome or Android in the U.S. online search monopoly case. While the decision still requires Google to share data with rivals to boost competition, investors cheered the avoidance of structural breakups after the five-year legal battle.

Apple Inc (AAPL)

+3.47%

Trading sharply higher premarket following Judge Amit Mehta’s ruling in Alphabet’s antitrust case. As per the ruling, Google is allowed to continue paying Apple to keep itself as the default search engine on iPhones. Bank of America raised its price target on Apple from $250 to $260 following the decision, maintaining a Buy rating on the stock.

Zscaler Inc (ZS)

+1.41%

Trading higher premarket after reporting earnings for fiscal Q4 2025, with adjusted earnings of $0.89 per share and sales of $719.226 million beating estimates of $0.80 and $706.906 million, respectively. For Q1 2026, the company guided adjusted earnings between $0.85 and $0.86 per share and projected sales between $772 million and $774 million, beating estimates on both metrics. Zscaler also provided stronger-than-expected EPS and sales guidance for fiscal 2026.

Amazon Inc (AMZN)

+0.20%

On watch after a federal judge in Seattle certified a massive class action against the company. The suit covers 288 million U.S. consumers who bought five or more new items from third-party sellers since 2017, making it one of the largest-ever US class actions. The lawsuit alleges Amazon inflated prices by restricting sellers from offering lower prices on rival platforms; Amazon has appealed the ruling and denied the allegations. The judge’s order was unsealed on Friday and reported by Reuters on Tuesday evening.

Dollar Tree Inc (DLTR)

-7.05%

Gapping down after its Q2 2025 earnings report. The company posted adjusted earnings of $0.77 per share and sales of $4.567 billion, beating estimates of $0.41 and $4.484 billion, respectively. Same-store net sales increased by 6.5% year-over-year, with traffic growing by 3% and the average ticket up by 3.4%. Dollar Tree raised its sales guidance for FY25 to $19.3 billion-$19.5 billion, beating estimates of $19.123 billion, and raised its EPS guide for the same period. The company noted that they expected adjusted diluted earnings per share for Q3 2025 to be “similar” compared to Q3 2024.

Macy’s Inc (M)

+10.08%

Gapping up after its Q2 2025 earnings report. The company posted adjusted earnings of $0.41 per share, marking a year-over-year decline from $0.53 but beating estimates of $0.18. Quarterly sales of $4.812 billion beat estimates of $4.764 billion. Macy’s raised its adjusted EPS guide for fiscal 2025 to a range between $1.70 and $2.05, compared to estimates of $1.79, and raised its sales guide to $21.15 billion-$21.45 billion, just shy of the expected $21.466 billion.

Crypto Stocks

+1.89%

On watch as a group after the SEC and CFTC announced a joint initiative to streamline the process for trading certain spot crypto asset products. Citing President Trump’s Working Group report, the agencies aim to provide regulatory clarity that keeps blockchain innovation in the US, confirming that current law does not bar registered exchanges from offering such products. The agencies also said they will quickly review filings from exchanges seeking to list spot crypto asset products. Both Ethereum and Bitcoin traded higher on Tuesday, in spite of a decline across US equities, and are trading higher on Wednesday morning.

MSTR, COIN, CLSK, HUT, HIVE, IBIT, ETHE, SBET, BMNR, CRCL, BLSH, MARA

Nuscale Power Corp (SMR)

+3.60%

Continuing to trade sharply higher premarket. The stock closed over 7% higher on Tuesday after the company signed a Partnership Milestones Agreement with ENTRA1 Energy to supply its small modular reactor (SMR) technology for future projects. The deal includes a $35–$55M staged contribution tied to project milestones. Approximately 32% of the stock’s float is sold short.

Campbell’s Co (CPB)

+2.67%

Trading higher premarket after reporting earnings for fiscal Q4 2025. Sales of $2.32 billion narrowly missed estimates of $2.33 billion, though adjusted earnings of $0.62 per share exceeded expectations of $0.56. The company guided adjusted earnings between $2.40 and $2.55 per share for fiscal 2026 and projected sales between $10.035 billion and $10.24 billion for the same period. Campbell’s pointed to net tariff impacts as the cause for “roughly two-thirds” of its FY26 EPS decline.

Chinese ADRs

-1.23%

Trading lower as a group, mirroring weakness during the overnight session. Both the CSI 300 Index and the tech-heavy Hang Seng Index closed roughly 0.6% lower on Wednesday morning. This drop came alongside the end of China’s military parade, with defense stocks leading the declines.

BABA, JD, BILI, BIDU, PDD, LI, NIO, XPEV, KWEB, FXI

Opendoor Technologies Inc (OPEN)

+5.89%

Continuing to trade sharply higher premarket after closing more than 14% higher on Tuesday. The stock has been on watch in recent weeks after receiving a glut of attention from retail investors, driven by a series of social media posts from hedge fund manager Eric Jackson. Opendoor has a short float of approximately 24.3%.

Solidion Technology Inc (STI)

+133.84%

The stock, which has rallied in the past, is poised to open sharply higher. On Tuesday morning, the company announced that it received a 2025 R&D 100 Award, in partnership with Oak Ridge National Laboratory, for their Electrochemical Graphitization in Molten Salts (E-GRIMS) breakthrough. Solidion Technology has a market capitalization of $9.1 million and a float of approximately 1.41 million shares.