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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 negative set-up

·       Commodities: Gold, Silver, Copper,  Palladium, Oil, natgas, AGGS,  Bitcoin

·       Yields: 30Y Bond +0.13% Currencies: USA$ -0.01%, CAD -0.03%, YEN +0.15%, BTC/USD-2.22%, Vix:20.45

·       Events:USA: USA instituting 15% global tariff after SCOTUS decision

·       Stock News:DPZ+5.7% Earnings NVO lower after weight loss drug trial failed to be superior to LLY

·        Equity: USA indices lower since Fri close but above the overnight lows. Catalyst is USA applying 15% global tariff after SCOTUS ruled the prior ones as illegal. Creates uncertainty on status of prior trade deals but believed to be positive for Brazil, India and China with Chinese stocks higher premarket. Nasi is the weakest index with MAGS lower ex-GOOGL which had a strong Fri and AMZN leading to the downside. Semis are weak as are AI names like PLTR, ORCL. Security stocks dropped Fri with Claude announcement of adding security features and premarket the software sector (IGV) is lower with the narrative that software at risk from AI. Gold and silver are well bid and may be benefiting from Chinese markets open again or potential US$ weakness due to tariff uncertainty. Bitcoin lower over the weekend and weighing on related names like HOOD. NVDA earnings  is the big event this week reporting Wed and stock is in play with 190 the key level.  Private equity concerns last week after OWL halted some redemptions and failed to raise $4B for CRWV data center is a concern for AI data center buildouts.  Energy remains bid with consensus that USA will attack Iran in the short term and war risk is keeping a bid to defense stocks.  Positioning is bearish in indices and MAGS which can provide support or lead to a larger downdraft. SPX 6850 is a level to watch as a pivot level with 6900 the key upside level and 6800 the key downside level. Expect more Trump tweets intraday regarding tariffs so need to be careful

·       Daily Expected Move. SPX(6962-6856), SPY(695-684), QQQ(615-602),  IWM(268-261)

Stocks to watch GOOGL, NVDA, LLY, DPZ, SLV, AMZN, MU Speculative
Indices SLV, UNG, GDX, GLD, XBI, /CL, KWEB, ETHE, IBIT, IGV, QTUM, SMH, ARKK, XLB, XLK

S&P500 DPZ, LLY, GLW, SJM, VRSK, NEM, TYL, IP, PKG, DASH, APP, CNP, LYB, HOOD, NOW, MU, PLTR
Other GLW, PLTR, HOOD, MU, AMD, INTC

GOOGL

GOOGL is outperforming premarket with an upgrade and a large move Fri.  Option positioning suggests 315 is a pivot level, and above can target 320, 325. Potential for fade below 315 if Fri was a short squeeze. 0DTE options are available for GOOGL today if one is looking to day trade.