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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 +.35% Currencies: USA$ -.03% Vix: -.3%

·         News: USA: Bullard ex FOMC Fed should cut now; Small biz Index lower JPY: Prelim machine orders -3.8% y/y
Stocks: TSM+2.75% continuation on USA free money

·         Overview: USA SPY 519 with support at 518, 516.3, and 515, and resistance at 520 and 521.1; SPY expected move +/- 2.4. QQQ 442 with resistance at 443 and 445, and support at 440, 439, and 435; QQQ expected move +/-4.8.  USA equities are moving higher premarket in NY trading though global equities are neutral.  Long yields are rising post comments from former FOMC member Bullard. Metals continue to move parabolically on inflation concerns and chatter on China improving and China buying gold. USA govt news of money to TSMC is juicing semis despite not being new.  Falling long yields is usually positive for small caps, regional banks and companies with the weakest balance sheet. Bonds have large, short interest so TLT may continue to rise today. Caveat is CPI print tomorrow will be a major yield mover. No major data to move markets hence 0DTE options are in control. SPX 5200 is the important line in the sand for bulls and bears.  Today’s daily expected move levels: SPY (521.1-516.3), QQQ (445.4-435.8), IWM (208.1-203.1), and SPX(5226-5178.8). 

Stocks to watch GOOGL, META, NEM, WDC, NTES, VZ, RTX

Spec Names AGI, GFI, MP, AEO 

Pre-800ET
Earnings  
Indices VIX, SLV, SMH, TLT, KWEB, QQQ, BITO, SPX, ARKK
S&P500 FCX, WDC, NEM, VZ, RTX, T, LMT
Movers NTES, AEO, GFI, TSM, AGI, BILI, AU, PAAS, MXL, STM, WDC, BE, MP, NEOG, INMD, VZ, RTX, T, GOGL, LMT, NVO, SMCI

Trade Idea: GOOGL

GOOGL is one of the better performing MAG7. Today is the Cloud Next conference which along with partnerships and a new chip venture can boost the stock. Expected move range today 158-151. Option market is targeting 160, 165.