.

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 -0.4% Currencies: USA$+0.26%, CAD -0.11%, YEN-0.07% BTC/USD-1% Vix: 17.6

·       Stocks: FDX+2%, LEN-2.5% EPS
Events: USA: Trump-Xi call 9ET JPN: BOJ kept rates unchanged with 2 dissents looking for an increase. Will start selling ETFs CDN: Retail sales 830ET UK: Retail sales better than expected
Equity: Global indices are flat to down ahead of Opex. S&P has two expirations, one at the open and one at the close. S&P sectors and Nasi are reconstituting as of the close and GDX is changing the tracking index so expect some volatility into end of day and next week. MAG7 led by AAPL, which started selling iPhone 17 in China, and TSLA, which was upgraded but generally positive ex-NVDA.  Semis have some weakness after the INTC surge on news of the NVDA investment. INTC was downgraded, and MU, which had a large move Thurs, is pulling back. Quantum and cryptos are lower premarket, and in general, the speculative names that have had large moves driven by weekly options are at risk with Opex today. SPX 6600 / SPY 660 are important bull/bear levels for today, which may be volatile.


SPY 661.8 Resistance 663 665 Support 660 657 655, QQQ 596.7  Resistance 598 600 Support 594.7 590

·       Daily Expected Move. SPX(6672-6592), SPY(665.5-655), QQQ(600.5-590), IWM(248-242)

Stocks to watch AAPL, TSLA, FDX, AMD, LEN Speculative BE, QBTS, IONQ
Pre-800ET
Indices SLV, US$, ARKK, MAGS, QQQ, ARKQ, ETHE, IBIT, UNG, EFA, SMH, TLT 

S&P500 AAPL, TSLA, MU

Other BE, CRCL, SMR, XPEV, HMY, LYFT, WRD, RKLB, CORZ, QBTS, IONQ, CLSK, UEC, QUBT, NTLA, EGTI, ETHA, HIMS, MARA, CIFR

AAPL

AAPL is above the 240 level, which can lead to a stronger move higher. iPhone 17 sales are starting todaywhich may be a catalyst. Caveat is a large number of AAPL calls expiring today so risk is a pop followed by a drop. S&P sector and Nasi reconstitution is effective end of the day and the Perplexity query is suggesting potential end-of-day buying. Option expiration is a volatile day, as is the following week so take care.