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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 – positive set-up

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

·         Yields: 30Y Bond +0.11%  Currencies:  USA$ +0.02% CAD +0.02% YEN -0.15%  BTC/USD+4.14%  Vix:20.1

·         Events: USA: Consumer sentiment 10ET CDN: Employment report 830ET

·         Stock News: RDDT+11%, GFI+4.9%, AMZN-7.1%, STLA-26%,  NWL-11.7%, CNC-5.4%, MOH-30%   Earnings 

·          Equity:  Global indices are bouncing over night after pulling back Thurs with S&P bottoming after AMZN earnings report. SPY and QQQ undercut put walls before bouncing which suggests that the premarket bounce is short covering and front running put expiration and is being led by the most speculative names including bitcoin, small caps and ARK ETFs. Bounce is broad based with tech, industrials and financials bouncing. AMZN is lower close to major 200 level which is an important pivot level. AMZN missed earnings but importantly raised Capex estimate to $200B with market not liking the larger capex but it’s a positive for the semis and NVDA AVGO SMH MU are all bouncing with idea that  hyperscalers will continue to spend. Healthcare insurers MOH, CNC are getting hit post earnings which will weigh on the sector. SPX6800 is the put wall and a useful bull/bear level. Market maker positioning is negative gamma which can lead to large moves in either direction while < 6950. QQQ 600 is the put wall and another bull/bear level and currently price is above. Only economic data today is consumer sentiment at 10ET which is potentially market moving. Volatility is elevated and question for today is whether it declines and shorts cover and the premarket rally continue or alternatively whether the bounce is used as another selling opportunity. Next week is the non-farm payrolls report and CPI which may keep hedges in place although the uncertainty regarding hyperscaler earnings is finished and the companies will be free to buy their own stock assuming they have money left after the capex spend. Software is worth a look since extremely oversold but momentum needs to reverse.

·         Daily Expected Move. SPX(6866-6730), SPY(684-671), QQQ(606-587),  IWM(260-252)

Stocks to watch NVDA MSFT BE PLTR  AMZN GOOGL MOH CNC  Speculative RBLX JMIA  DOCS HUBG
Indices IBIT UNG ETHE GDX ARKX SMH XME IGV GLD ARKF   XLY MAGS /CL 

S&P500 HOOD PLTR VST LLY GEN STX AVGO TER WDC APP MOH AMZN CNC CBOE MTD FSLR HUM GOOGL
Other BE RBLX JMIA GLXY LITE MSTR RDDT BMNR CDE RCAT NBIS COHR  DOCS HUBG HIMS IREN RELX OSCR TEAM 

BE

BE has moved above the expected move on earnings report which beat and raised guidance. BE makes fuel cells which can be deployed quickly for AI data centers. Stock has made a large move on earnings but is above the 150 call wall which is a level to watch. Call positions 165, 180 indicate an appetite for higher prices. It’s a very volatile name but a beneficiary was long as AI data center continues. BE provides a shorter timeframe to add power c.f. building a nuclear reactor or standing in line for gas turbines to be delivered.