.

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 -0.08%  Currencies:  USA$-0.26% CAD +0.42% YEN +0.15%  BTC/USD+0.26%  Vix:20.5

·         Events USA: No Iran attacks this weekend; gunman at Whitehouse Press dinner on weekend

·         Stock News:    VZ+3% DPZ-4.6%   Earnings QCOM higher on OpenAI deal to make a smartphone
Equity: USA indices are  flattish premarket with small caps leading. Premarket there is still crowding into AI related names and semis in particular. Dispersion trade is continuing with semis higher and software lower. Speculative semi names with high short interest are leading (QTUM AIPO). Friday’s idea QCOM is +11% with a deal with OpenAi ahead of earnings this week. NVDA is leading MAGs after a big squeeze Friday and AAPL is lower as an example of dispersion trade. AAPL is trading lower on the potential of OpenAI building a phone. Oil is higher as the Iran war stalemate continues and market appears to be pricing in a short term conclusion and ignoring the continuing build-up of USA military forces in the region. No planned major news today and with major earnings and FOMC Wed, the market is in the hands of 0DTE traders.  Popular tech stocks have 0DTE options M, W, F so opportunity to move the names around today. Semis are getting squeezed and RSI 84 is the highest  level in 10y. Can always go higher but one should take care and consider hedging.
   

·         Stock INTC AMD  QCOM NVDA  AAPL   Speculative  POET AMSC BABA
Indices UNG SMH  /CL QTUM EFA AIPO XLK XLE  KWEB IGV GDX US$ XLY

S&P500 QCOM MU VZ SNDK WDC NVDA GLW   PLTR AAPL ORCL
Other ORKA OGN AMSC POET CRML NOK HSAI WOLF NTLA AMKR TSMC UMC ALM AAOI MRVL BABA XPEV

AAPL

AAPL is lower on story of OpenAi building smartphones in partnership with Mediatek and QCOM. AAPL reports earnings Thur AMC. If one thinks that OpenAi is unlikely to become a credible smartphone provider in the next few years, AAPL is a potential bounce candidate into earnings with support 266 overnight low and resistance 270 and 275. QCOM, Fridays idea has had a big move on the OpenAi announcement and risk of profit taking. AAPL has options expiring M and W if one looking to scalp a quick move.