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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 -.23%  Currencies:  USA$  -.18% Vix: -.21%

·         News:  USA: New home sales 10ET; FOMC Bostic 825ET JP: Monetary policy meeting minutes
Stocks:  AMD -3.5%, INTC -4%, MSFT -.8%, China banning AMD and INTC from govt computers with implication MSFT O/S included. AMD revenue from China is 20% but ban is only govt but implies that China does not require USA processors. Likely retaliation for USA aggressive action. AAPL iphones are already banned by Chinese govt workers.  BA+2.25% CEO resigned
Overview: USA SPY 519.8  support 519.2 518  and resistance  520 523.2  SPY expected move +/- 2. QQQ 444.1 with resistance  445 449  and support  444 440 ; expected move +/-2.4. Premarket setup is slightly negative with global equities lower with Nasi leading to the downside with weakness in MAG7 and semis. USA semi companies are heavily reliant on sales to China and revenue risk IF China can/decides to reduce purchases. Watch NVDA today, which has not been adversely impacted and has been used to prop up the indices. Macro is mixed with yields higher and US$ lower. IWM and DIA outperforming QQQ suggests that market may rotate rather than broadly sell but SPX 5200 is a key that can indicate issues if breached.  Moves outside daily expected moves can lead to much larger moves. Today’s daily expected move levels: SPY (523.2-519.2),  QQQ (448.8-444), IWM (206.5-203.6), SPX(5254-5214). 

Stocks to watch:  BA, DIS, INTC, AMD, TSLA, MSFT, 

Spec Names: DWAC, COIN 

Pre-800ET
Earnings  
Indices: BITO, VIX, GDX, FXE, XME, SMH, MSFT, XLK, QQQ, TLT, EFA, SPY, XLF, UUP,
S&P500: APH, BA, DIS, MRNA, INTC, AMD, UAL, ALB, TSLA,
Movers: DWAC, AXSM, MSTR, FL, COIN, GCT, BA, CENX, BIDU, MARA, PDD, GME, RIOT, CCL, DIS, GOLD, INTC, AMD, UAL, EH, RIVN, ALB, TSLA 

Trade Idea: AMD

AMD is lower on news of a ban by Chinese govt for govt workers. China represents +20% of revenue. 175 is a key level, below 172.5 and 170 are targets and above potential to bounce towards 180.