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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

** Underlined text – higher volume premarket

** ‘d’ – day

** ‘Y’ – year

**govt – government 

Color Key: Positive – Neutral – Negative

Global Markets: USA, Europe, Japan, China, Hong Kong Asia – Slight negative global set-up

·         Commodities: Gold, Silver, Oil, natgas, AGGS, Industrial Metals 

·         Yields: 30Y Bond +.39% Currencies: USA$ +.4% Vix: +.65%

·         News: USA: Powell 9:00 ET, Barr 12:00 ET Bostic 16:00 ET CDN: Retail sales 8:30 ET
Stocks: LULU-13%, NKE -6%, FDX+12%, TSLA Reducing China production BIDU+4.8%, AAPL in talks to use BIDU AI in China phones (I guess USA govt won’t care)
Overview: USA SPY 521.3 with support at 520 and 518, and resistance at 525; SPY expected move +/- 2.3.  QQQ 444.7 with resistance at 445 and 448, and support at 443.3 and 440; QQQ expected move +/-2.5.  Premarket setup is slightly negative with global equities lower with Nasi leading to the downside with weakness in TSLA and semis. LULU and NKE earningsMacro set-up is textbook risk-off with US$ and long bonds higher.  Indices are well above the weekly expected move so risk is to the downside with SPY 520 an important support level.  Moves outside daily expected moves can lead to much larger moves.  Today’s daily expected move levels: SPY (524.5-519.9), QQQ (448.4-443.3), IWM (209.5-206.4), and SPX(5264.7-5218.3). 

Stocks to watch FDX, BIDU, LULU, NKE, TSLA, NVDA, AMD, IBIT

Spec Names DWAC, VKTX, FL

Pre-800ET
Earnings FDX, NKE, LULU, IDN, PROK
Indices VIX, TLT, UUP, XLI, AAPL, KWEB, FXI, IBIT, XLY, GDX, ARKK, GLD, SMH, COPX
S&P500 FDX, LULU, NKE, TSLA, ALB, SMCI, FCX
Movers FDX, BIDU, FL, DWAC, AY, VKTX, LULU, NKE, BROS, TSLA, MSTR, CLSK, EH, ZTO, LI, TME, JD, AU, ASML, RIVN, ALB, ONON, MARA, RXRX, RIVN, BABA, FUTU, SMCI

Trade Idea: FDX

FDX is higher post earnings and above the expected move 280.  Earnings were not great IMO with revenue lower and focus on cost cutting and share buybacks. Straddle approach: Pullback > 180 may lead to a bounce. Support levels 190, 185.  Below 180 potential fade set-up.