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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 – negative set-up

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

·       Yields: 30Y Bond -0.66% Currencies: USA$+0.59%, CAD -0.24%, YEN -0.51%, BTC/USD-2.5% Vix:26.1

·       Events USA: US jobless claims 830ET. Trump threatens to bomb Iran to the stone age.
Stock News:        Earnings
Equity:  Global indices lower as oil rises post Trump speech and expectations for ground troops. The GS short basket was +8% last 2 days and reversing premarket. AI basket was strong Wed and leading to the downside today with optical, memory, and semis sold. Energy is the one positive S&P sector with CF (ammonia), RTX (missiles), Aggs (wheat, corn, soya) higher as benefit from the straight remaining closed. MAGS are lead by META and NVDA to the downside with AAPL the strongest. MAGS is weaker than the QQQ suggesting institutions are continuing to degross the MAGS.  Higher energy pressures foreign countries which are energy importers and reduces global liquidity which leads to higher yields, higher US$ which is generally negative for equity. SPX is below the daily expected move premarket  with some support at 6450 but more solid support at 6400. Many downside puts expired or were closed after 2d of short squeeze so risk is puts being added ahead of the long weekend to hedge ground troop escalation. Alternatively, Trump can attempt to walk back his comments if the equity market becomes too weak or yields too high so need to be agile if short term trading.

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·       Stock APA, OXY, DOW, NVDA, MU, LITE, GLD Speculative VG, EQNR,   HL, GFI
Indices /CL, XLE, UNG, US$, GDX, SLV, ETHE, SMH, GLD, IBIT, ARKK, MSOS, XME, XLK, ARKG

S&P500 APA, OXY, LYB, CF, DOW, XOM, CVX, RTX, SLB, LITE, SNDK, COHR, MU, WDC, STX, NEM, GLW, HOOD, UAL, CCL
Other VG ,EQNR, PBR, BP, CVE, PBR, LNG, SHEL, ET, HL, GFI, AU, EQX, CDE, IAG, HMY, PAAS, HL, ASTS, RKLB, TTMI

TSLA

TSLA premarket pulled back to 370 hedge wall, which is a key pivot level. TSLA Shanghai and European sales improved, and higher oil prices are good for EV. TSLA is at the bottom of the daily expected move, so a day trade idea with a bounce towards 375. 380  and conversely below 370 look for 365.