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Laurie’s Abbreviation Index:

‘div’ – dividend 

‘m/m’ – month over month

‘y/y’ – year over year

‘Inven’ – inventories

‘mfg’ – manufacturing 

+/- – plus or minus, positive or negative

Color Key: Positive – Neutral – Negative

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia –  Mildly Negative equity global set-up

•Commodities:  Gold, Silver, Oil and natgas, Softs, Industrial Metals

•Yields: Yields are lower

•Currencies:  US $ +.22%;

•News: USA: Consumer confidence at 10:00 ET Japan: CPI2.9% Y/Y above expectations

Stocks PEP, MCD, NVS, GE, FISV, ABB, GM, MMM, CNC, ABB, UPS, FRC, DOW, HAL, EPS

•General: Leading: volatility, bonds, US$ Lagging: China Internet, Emerging Markets, Small Caps

•Overview: Global indices risk off. SPY 411.04 displays support of  411,410, and 405 with resistance at 412.7, 415, and 420. SPY expected move +/- 1.7. QQQ 314.8  with resistance at 315, 319, and 320 displays support of  313,  and 310. QQQ expected move +/- 2.0.  Equity setup is mildly risk-off with global equities lower, yields lower and US$ higher. Commodity complex lower is aligned with deflationary outlook. Earnings are a mixed bag and lack of major economic data may lead to a continuation of the pattern of 0DTE call buyers lifting indices intraday with caveat that SPY 410 must hold. Staples and healthcare insurance plans are positive leaders and China internet the laggards.

•Stocks to watch ABB, THC, GE, CNC, TSLA, PDD, FRC, FSLR, FCX Spec Names  MEDP, SQSP, ZM

Pre-800ET
Earnings TENB, GM, CNC, PEP, GLW, GE, MMM, PHM, FRC, UPS, DHR, HAL, CDNS

Indices VXX, TLT, UUP, XLP, KWEB, LIT, EEM, WM, KRE, GDX, ICLN, XLB, XLF, USO, SMH, XOP, XLE

S&P500 GM, CNC, PEP, GLW, MMM, CARR, GE, RTX, PHM, MOH, BIIB, FRC, UPS, DHR, FCX, FTNT, HAL, ZION, FDX, SCHW, TSLA, C

IWM SQSP, TENB, DAWN, CALM, DOCN, HIMS, NE, AI, BE

WSB COIN, RTX, CLF, BABA, AI, AFRM

Movers ABB, THC, GM, NVS, SQSP, CNC, SPOT, PEP, SAP, GLW, MMM, CARR, GE, COIN, VOD, RRC, RTX, GSK, SNY, VKTX, FRC, TENB, EC, DAWN, UPS, CALM, DHR, HIMS, DOCN, PDD, FCX, JD, BHP

Trade Idea: ZM

ZM Is a speculative name catalyst is Eurozone regulators forcing MSFT to unbundle TEAMS. In my opinion, premarket 65.4 high can be used for momentum long.  Large long dated call positions were placed Monday.  70 strike calls are the largest open interest for May expiration.