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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 – Neutral global set-up

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

·         Yields: 30Y Bond -.11% Currencies: USA$ +.03% Vix: +1.5%

·         News: USA: PPI 8:30 ET; 30Y bond auction 13:00 ET; FOMC Williams 8:45 ET China:  CPI 0.1% y/y ECB: 8:45 ET
Stocks: STZ +.4% KMX -8.7% FAST -4% EPS

·         Overview: USA SPY 511.9 with support at 510 and 505, and resistance at 515, 518, and 520; SPY expected move +/- 4.1. QQQ 436.7 with resistance at 440, 442.5, and 445, and support at 435 and 434; QQQ expected move +/-4.1.  USA and European equities lower ahead of the USA PPI report. USA indices are negative gamma which can result in sharp moves in either direction. PPI has been released and lower than expected which may reduce the inflation fear or at least lead to some short covering.  Premarket the MAG stocks are being led by MSFT, biotech is strong on some announcements and short covering. SPY 515 must be reclaimed and held for bulls. 510 potential support if selling continues. Today’s daily expected move levels: SPY (518.2-510), QQQ (442.5-434.3), IWM (203.4-198.4), and SPX(5201-5160). 

Stocks to watch NVDA, TSM, AAPL, SLV, NKE, KMX, FAST

Spec Names VERA  

Pre-800ET
Earnings DAL, SGH, AEHR
Indices VIX, FXI, SLV, GDX, BITO, XBI, QQQ, SMH, XLI
S&P500 NKE, ALB, SMCI, ENPH, MU, FAST, KMX
Movers ALPN, VERA, FRO, BILI, GOGL, AZN, NKE, TRMD, TEAM, KMX, BTU, FAST, EXAS, HOOD, CVNA, EH

Trade Idea: KWEB

China stocks are starting to outperform USA. KWEB holds a basket of stocks traded in Hong Kong and is starting to breakout on the daily. Narrative that China is stimulating is helping China stocks. A drop in US$ may help as well. 27.5 will be a break above the March highs.