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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 -0.03%, Currencies: USA$+0.01%, CAD -0.12%, YEN -0.08%, BTC/USD-0.28%, Vix:27.15

·       Events:USA: WSJ reported that Trump willing to terminate war. USA: JOLTS, Consumer confidence 10ET CDN: GDP 830ET EUR: CPI flash y/y 2.5% vs 2.6%
Stock News: PHR-24%, MKC+2.2% Earnings
Equity: Global indices higher on report that Trump may be willing to pullout from the war, meanwhile attacks continue, so one should be on the lookout for pops to continue to be sold. Today the JPM position will roll with 30k 6475 strike puts will roll to June and can lead to volatility and theoretically should be bullish. As end of month, institutions with defined equity/fixed income allocations should be adding to equity positions, and April 1 auto pension contributions will be made. So in theory there are reasons for the market to rise however the war is still continuing and the damage to the global economy is growing and the next move by Trump and response by Iran is uncertain therefore IMO one needs to be uber cautious and consider trading upside pops with risk defined option trades with an eye to selling resuming as seen Tues. Premarket setup is classic risk-on with all S&P sectors green and technology and financials leading. Speculative stocks are led by goldminers, space and uranium. MAGS are led by META and NVDA as the weakest names rebound. Notable is MU is not bouncing with the market. MRVL is +10% with a $2B investment by NVDA and a candidate to watch for a potential fade. SPX 0DTE 6420 is support and 6475 is the key level tomorrow. Post expiration there will be greater opportunity for the market to make larger moves in either  direction with oil and war the catalysts

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·       Stock META, MSFT, CCL, NEM, AA, MRVL, CEG Speculative RKLB, GFI,    BEKE
Indices SLV, GDX, XBI, GLD, IWM ,SMH, MAGS, IGV ARKG, KRE, XLK,  UNG, US$, KWEB

S&P500 CCL, MKC, LRCX, NEM, MSFT, META, NVDA, AMZN ,AVGO ,PANW, NKE, CEG, VRT
Other MRVL, RKLB, NBIS, GFI, UBS, AU, CDE, ASTS, TSEM, CRWV, AA, RIO, CEG, BEKE, VT

GLD

GLD has pulled back as the US$ has risen with crude oil and pressured global liquidity. Gold is at the top of a recent consolidation range with potential to breakout above with targets 430, 450 but also potential to decline down to 415 so need to be prepared for either scenario. It is end of quarter so the moves may be just rebalancing so take care.