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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 – neutral set-up

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

·         Yields: 30Y Bond +0.05%  Currencies:  USA$ -0.25% CAD +0.23% YEN+0.27%  BTC/USD+0.69%  Vix: 16.75

·         Stocks: SNOW+13.5% CM+2.2% TD+2.7% TCOM+7.8% DG+6.1% PSTG+15% BURL+7.4% OLLI+5% FIVE+3.6%  NVDA-1.7% VEEV-3% NTAP-7.3% HRL-8% COO-15%    EPS  
Events: USA: GDP 830ET
Equity: USA indices have risen overnight after falling post NVDA earnings release. Small caps continue to lead large caps premarket ahead of USA GDP print. MAG7 is led by AAPL, MSFT as money rotated to compensate for NVDA pullback. NVDA dipped with data center revenue less than expected and uncertainty of China revenue but bounced as either shorts covered or buy the dippers stepped in. XRT was strong Wed and positive earnings reaction to DG, FIVE, BURL, OLLI can spur the retail sector. In the tech sector SNOW positive reaction builds on MDB to provide a boost to that portion of the software sector. MSFT is starting to improve and may see a rotation within tech from semi to software. TD and CM are higher, continuing the positive reaction to Canadian bank earnings and powering the TSX.  US$ is lower which supports gold, silver and crypto. Bitcoin and Ethe are both higher with Ethe stronger and bitcoin is showing signs of turning back up. China stocks are lower again as a recent bounce was sold. Month end is usually positive as the monkeys mark up and volatility front runs the long weekend. Implied volatility was elevated into NVDA earnings and the unwind of vol with NVDA not causing a major change in the AI spending boom is a contributor to the market bounce overnight. Pay attention to how the market trades today as IMO the premarket bounce is mechanical and NVDA results weren’t great but the monkeys may carry the day into month end.  ** USA preliminary GDP 3.3% Q/Q vs 3.1% expected; UE claims 229k vs 231k; GDP price index 2% Q/Q inline  Reaction: S&P higher, in theory it should reduce demand for rate cuts but that train has probably left the station. ** 
 
SPY 646.9 with Resistance at 648.4 and 650 with Support at 645.8, 645, and 643  QQQ 573 with Resistance at 574, 577.2, and 580 Support at 572, 570, and 567
Daily Expected Move. SPX(6512-6450)  SPY(650-643) QQQ(581-565)  IWM(237.9-234)

Stocks to watch NVDA, PLTR, MDB, SNOW, GOOS, KWEB, PYPL,  Speculative KSS, RKLB, UUUU, LI
Pre-800ET
Indices MSOS, SLV, IBIT, ETHE, XRT, IWM, XBI, XLF, XLV, KWEB, SMH, MAGS, XLK, $DXY

S&P500  DG, COO, NVDA,

Other SNOW, DG, CRWV, BMNR, IREN, MRVL, HIMS, COO, HMY, LI, XPEV, JD, BABA 

MRVL

MRVL reports earnings after the close. It’s higher premarket with Wed block and darkpool trades ~74.97. Potential candidate for a run today. Premarket high 76.45 can be used for a momentum long or pullback > 76. Expected move for earnings +/- 7. MRVL has recently moved +/-20% on earnings so potential for a larger than expected move in either direction but can squeeze > 80.