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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 – Slight positive set-up

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

·       Yields: 30Y Bond -0.0% Currencies: USA$ +0.07%, CAD -0.20% YEN-0.05%, BTC/USD-1.6%, Vix:18.45

·       Stocks: KVUE+21% bought by KMB -13%, IREN+21%, CIFR+16.7% higher on deals with MSFT and AMZN, lifting other companies like CORZ and WULF
Events:USA: ISM mfg PMI 10ET; QRA estimate 15ET CDN: Maclem 1330ET
Equity: Global indices higher to start the week and month. IRA mechanical buying should lead to mechanical buying which is being front run premarket. QQQ and spec tech are leading with semis bid despite Trump stating that NVDA Blackwell is for USA only. MSFT is allowed to ship to UAE so countries with Trump deals are allowed. NVDA is reporting earnings in 2 weeks and monkeys tend to buy into the report. IREN and CIFR huge pop on AMZN and MSFT deals for data center leases which keeps the euphoria alive and spilling into related names. ORCL has weakness and CDS are spiking as non-monkeys are betting/hedging that debt is an issue.  MU strong as narrative that memory shortages are an issue and the storage space (WDC, STX, SNDK) is one of the strongest sectors. Samsung and SK Hynex are strong and the Korean market in general is strong which is very weighted to semi. Lot of chatter regarding the weak market breadth with the Hindenburg Omen triggering, not a 100% signal, but worth watching. Also, chatter about liquidity tightenin,g which prompted FED to end QT. Maybe an end-of-month issue and not seeing any issue yet with MOVE and high yield spreads. Bitcoin/ETHE seem to have decoupled from equity as a risk-on signal, typically a liquidity indicator. US$ and 10y yield recent strength can also be indications of lower liquidity. SPX call skew has pulled back from extreme levels and gamma levels are in a zone 6800-6925 where chop is likely, and buy the dip and sell the rip is the trade with turning more bullish above SPX 6925. Premarket setup is positive for large-cap and spec tech, will watch to see if it continues into RTH. USA MFG ISM 10ET may be market-moving moving as will QRA at 15ET which will forecast the amount and mix of bond issuance.

Levels: Members only

Stocks to watch NVDA, PLTR, MU, KMB, TLT Speculative IREN, CIFR, CORZ
Indices UNG, IPO, SMH, XLE, QQQ, QTUM, SLV, ARKK, ARKQ, ETHE, IBIT, XBI, TLT, XME, UFO

S&P500 KVUE, MU, PLTR, NVDA, SMCI, AMD, KMB

Other IREN, CIFR, CORZ, WULF, SNDK, CSIQ, CLSK, RIOT, APLD, GLXY, QURE, BMNR, UUUU, SMR, MSTR 

PLTR

PLTR reports earnings after the close. Expected move +/-20. Company is very expensive based on fundamentals. Large call position 210 is potential resistance and potential to squeeze above. 180-170 are likely lows. IV very elevated which enables calendar/diagonal trades. Monkeys love PLTR and with the leveraged ETFs may run into the close.