.

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 -0.33%  Currencies:  USA$+0.18% CAD -0.08% YEN -0.16%  BTC/USD-1.89%  Vix:20.95

      •        Events USA: USA PMI 945ET CDN: PPI 830ET

      •        Stock News:   LRCX+0.17% TXN+10% CSX+5.8% URI+14% AXP+0.6% NOK+11%    TSLA-2.9% IBM-7.5% NOW-12% FCX-7% HON-5.5% LMT-2.4%  Earnings
Equity: USA markets slightly lower after dipping overnight on an Iran attack story but bouncing premarket. NOW reported lower guidance and as a bellwether for SAAS stocks has led to a pullback in the software sector with large names MSFT, ORCL, PLTR lower. IBM  lower with weaker revenue guidance and consulting revenue missing consensus. Together can add weight to meme that AI is hurting software service companies. TXN big move on earnings and commentary that the otherwise dead semi market ex-AI is improving. Non-sexy semi names like TXN ADI ON have been moving higher as monkeys look for non-NVDA/AVGO companies to buy.  LMT lower post earnings and paradoxically defense names have been week despite a war and Trump wanting to increase the defense budget by 50%.  TSLA is lower post earnings but inside the expected move and leading the MAGS to the downside. NFLX is bid on a buyback announcement after the post earnings dip.  The usual war trade of US$, yields, oil higher was activated last night with metals, equities lower but reversing premarket but worth watching today. DOJ has reclassified cannabis as a less dangerous drug which lifted the sector Wed which is a first step towards changes to the safe banking act and inter-state transfer. SPX 7130/35 is potential resistance based on positioning and 7100 a significant pivot level. Given weakness overnight, the premarket bounce may be short covering and need real buyers to step up in RTH.  USA S&P PMI will be released at 945ET which can be market moving. Also expect Trump tweets to move markets in either direction so keep ones head on a swivel.

      •        Stock GEV GOOGL MU SLV GLD   VRT T    Speculative  POET NVTS  VG
Indices SMH AIPO MSOS XLU XLC XLE XLI XLRE  ETHE IGV SLV IBIT KWEB GDX MAGS ARKK XLK XLK ARKF

S&P500 TXN CMCSA ON INTC NFLX   NOW SMCI FCX IBM HON CRM TSLA LMT INTU LITE ORCL MSFT SNDK 
Other OKLO APLD STM SMR NNE SNY TSEM GME AAL  CAR TEAM RDW UMC INFY POET

MSOS

MSOS is an ETF holding a basket of cannabis stocks. DOJ ruling to classify as less dangerous is lifting the space however there are still alot of government agencies like DEA that need to do some work to then allow a rescheduling of Cannabis and ultimately change the banking regulations. So potentially short term trading opportunity but high potential for a sharp bounce followed by a fast retracement. GLASSF is a name that some analysts have flagged as a better name in the space.