US solar companies get a boost from huge new tariffs on Southeast Asian competitors

3,521%

The US Department of Commerce yesterday announced new tariffs of up to 3,521% on solar panels and related products from Cambodia, Malaysia, Thailand, and Vietnam, as the government cracks down on companies that allegedly dump cheap products in the US and benefit from Chinese subsidies.

Of course, rates vary from company to company across the Southeast Asian nations. For example, one Korean manufacturer operating out of Malaysia faces a ~15% levy, while four solar companies in Cambodia were hit with the 3,521% rate after the country stopped complying with the investigation into industry practices launched by the Biden administration last year.

Still, the new tariff announcements have made for a bright start to the day for some US solar companies: First Solar rose ~7% in premarket trading, while the ailing Sunnova Energy was also up more than 5% at one point.

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Luke Kawa

Fund managers are worried about AI overinvestment. Bank of America is worried about fund managers overinvesting.

For the first time ever, fund managers surveyed by Bank of America think companies are investing too much.

J. Edward Moreno

Home Depot slips on earnings miss, guidance cut

Comparable sales and EPS figures both came in lower than expected on Tuesday morning.

Luke Kawa4h

JPMorgan recommends bullish options bet on Nvidia ahead of earnings

Nvidia, the most valuable stock in the world, has lagged its semiconductor peers over the past three months in the run-up to its fiscal 2026 third-quarter results, due out after Wednesday’s close.

JPMorgan reckons an earnings beat, as well as signs that the company and its suppliers are well positioned to meet the ever-growing demand for its AI offerings, would be sufficient catalysts to unlock a catch-up trade that sends shares soaring back toward all-time highs.

“We favor owning call spreads as a strong beat-and-raise from NVDA and positive commentary around supply could clear recent sector underperformance and could propel NVDA above its average historical move,” wrote Bram Kaplan, head of America equity derivatives strategy at JPM.

The recommendation:

Buy calls at a strike price of $197.50 for this Friday’s expiry; and
Sell the same amount of calls at a strike price of $207.50 for the same expiry.

The options-implied move is plus or minus ~6.4%. To break even on this position (by the time of expiry, based on current prices), you’d need to see shares up above $199.30.

The chip designer has traded between ~$180 and $210 since the end of September. So, the upper strike on this call spread caps the upside a little below the stock’s October 29 intraday peak of $212.19.

The max gain would be roughly 550% of the premium paid; the max loss, of course, would be 100%.

Hyunsoo Rim & David Crowther4h

Bitcoin’s having its worst month since 2022 as the sell-off continues, with BTC dipping below $90,000

Bitcoin slid below $90,000 on Monday night for the first time since April, extending a month-long rout that has now erased all of its 2025 gains. The world’s largest cryptocurrency briefly hit $89,350, its lowest level since February, before rebounding slightly to hover near $91,000. Six weeks ago, prices had hit a record $126,250.

The slide comes as risk appetite evaporates across markets, with speculative tech stocks tumbling and hedge funds de-risking — while some investors use bitcoin’s losses for year-end tax loss harvesting.

As a result, bitcoin is now suffering its worst one-month stretch since the deep 2022 sell-off, and its worst Q4 since 2018 — despite November typically being its strongest month. With fear gauges hitting “extreme” levels, some traders are now positioning for a potential slide toward $86,000 to $88,000.

Tasha Matsumoto

17h

Tech and finance lead sell-off as traders brace themselves for Nvidia earnings and the September jobs report

While speculative assets were hardest hit, all sector ETFs were trading lower except utilities.

NFC Playoffs: Chicago Bears Walter Payton (34) upset, sitting on sidelines bench after losing game vs Washington Redskins

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