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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 – neutral set-up

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

·       Yields: 30Y Bond -0.47%, Currencies: USA$+.43%, CAD -0.13%, YEN -0.44%, BTC/USD+0.60%, Vix:24.45

·       Events:USA: S&P PMI 945ET
Stock News: Earnings
Equity: Global indices lower post the Mon short squeeze caused by the disputed tweet that the USA was in discussion with Iran. Premarket oil higher, bonds lower, US$ higher, equity lower as the market returns to the war continuing mode, but with fear of the next tweet. MAGS are relatively flat with NVDA leading and GOOGL lagging. Bitcoin, gold, and silver are higher, bucking the usual inverse correlation with the US$. The energy sector is the leading S&P sector as the war continues, but with the risk of the next tweet as energy prices rise. There are pockets of strength, including optical components used in data centers e.g., COHR, LITE, AAOI, and today NBIS, CRWV, with analysts upgrading despite all the concerns regarding financing and return. The fertilizer/chemical names that were bludgeoned on the tweet are bouncing premarket e.g. CF, as the reality is that there are shortages and will not be quickly solved by a random tweet, but hedge funds are trading baskets which can obviously reverse on a dime as witnessed Monday. SPX 6550 is a level to watch to the downside and 6770 to the upside. In the absence of more tweets, 0DTE is in control, and the premarket is not providing a signal yet. CTA is in sell mode so are a negative headwind. Monday most of the positivity was from put sellers and short covering, will see what today brings

Stock NVDA, DXCOM, CF, RCL, FCX, GOOGL, TLT Speculative NBIS, COHR, COEUR,  AU
Indices /CL, SLV, UNG, IBIT, XLE, ETHE, GLD, UUP, TLT, GDX, SMH, IWM, XLF, SPY, QQQ, XLF, XLK, XBI

S&P500 DXCM, RL, VTRS, CF, SMCI, INCY, ECL, MOS, FMC, BBY, FCX, RCL, SOLV, BRG, HPE, MCHP, CFG, FSLR, BLDR
Other LI, NBIS, CRWV, SNN, TSEM, PDD, COHR, AU, STM, CNH, GFI

VG

VG is a repeat idea. Natural gas exporter with more leverage to spot UNG than its larger competitor LNG, which was upgraded today. The damage to Qatar LNG is substantial and will not be fixed by a random tweet, which is positive for USA LNG exporters. Volatile name with call buyers targeting up to 20, so potential to squeeze higher. Caveat that there is technical resistance at 16.5, which needs to be overcome, and the threat of tweets attempting to stop energy prices from moving higher, but the VG market is ex-USA, so it benefits from a large differential between the USA and destination markets.