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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 +0.14%  Currencies:  USA$ +0.18% CAD -0.03% YEN-0.14%  BTC/USD+1.54%  Vix:18.6

·         Events: USA: CPI , Jobless claims 830ET UK: 25bps rate cut

·          Stock News: ACN-2.8% KMX-10.8% BRIK-12.7%  MU+13% DRI+4.5%   earnings DJT+28% merging with TAE – Nuclear Fusion
Equity: USA indices following recent pattern of rising overnight and remains to be seen whether the RTH selling continues. CPI 2.7% y-y vs 3.1% with core 2.6% and continuing jobless claims < expected which has resulted in a positive market reaction. USA indices are led by QQQ with a positive reaction to MU earnings which is reversing the selling of the AI data center basket on Wed on the ORCL funding news. The semis, data center companies are all bouncing from oversold levels and jury is out on whether the bounce has legs or is just exit liquidity.  Indices are negative gamma so potential for large moves in either direction. Cannabis leading ETF with bets on a Trump executive order. DJT the trump media ETF surge on news of a deal with a nuclear fusion company. LULU big move higher on news that Elliot has taken a $1B position. Crypto currencies are bouncing and precious metals small pull back which is maybe a risk-on signal or just short cover/profit taking.  USA indices are above the upper daily expected move which can lead to an outsized move higher with SPY 677, QQQ 607, IWM 250 reference levels.  With negative gamma, potential for a much larger move but must stress that they have been selling pops in RTH so must take care. MAGS are led by TSLA, GOOGL, NVDA, AMZN, AVGO following big dips Wed. The option monkey love TSLA, NVDA so lets see what they want to do today.

Daily Expected Move. SPX(6778-6665)  SPY(677-665) QQQ(607-594)  IWM(250-244)

Stocks to watch  MU TSLA NVDA SNDK    KMX ACN NEM     Speculative MSOS DJT TLRY
Indices MSOS ETHE UNG IBIT SMH ARKX ARKK XLK KWEB QQQ ARKF ARKQ /CL GDX SLV GLD XLE XBI

S&P500 MU LULU WDC GEV LYV DRI STX AMAT CEG LRCX  KMX ACN ELV PYPL NEM ARE BKR COP OXY UNH
Other DJT SNDK TLRY BE CORZ  BMNR WULF IONQ   KMX HL AG

NKE

NKE reports earnings after the close with expected move +/-4.6. NKE has been in a downtrend and still below the 200sma but has lifted since late Nov as retail/value stocks bounced with rotation out of AI names.  IV is 145% this week which is a set-up for fly trades or diagonal/calendar trades for directional trades. NKE is expected to report lower earnings y-y so would be a matter of whether it will report better than expected.