.

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 –0.31%  Currencies:  USA$+0.38% CAD -0.12% YEN -0.17%  BTC/USD-0.66%  Vix:20.1

      •        Events USAS&P PMI 945ET; jobless claims  UK: PMIs contraction
Stock News: AAP+5.8% NIO+3.6%  WMT-1.8% INTU-14% DE-3.7% NVDA-0.3%       Earnings
Equity: Global indices lower after popping Wed on improving Iran war sentiment. NVDA flattish post earnings which beat expectations and keep the AI mania alive and companies like NBIS CRWV (which NVDA has positions in) are higher premarket. WMT lower post earnings with guidance below expectations and comments that consumers are trading down. MAGS are led by TSLA and MSFT is lagging with the long semi / short software trade still continuing.  Oil and yields higher as SoH is unresolved. Wed, small caps, airlines and high short interest names jumped on flimsy Iran news and expect ups and downs to continue and WH to be tweeting whenever oil or yields get too high. IBM and the quantum names (INFQ, QBTS, RGTI, IONQ, GFS) are higher with the US govt investing $2B and taking an equity stake note that the deals need to be completed. SPX is supported through positive gamma with 7400/7390 support levels and 7425-7455 resistance.  The tension is currently between the SoH closure which will increasingly affect the global economy and the AI euphoria and excitement with massive IPOs of SpaceX and Anthropic coming. For now any rumor of anything remotely positive re: SoH opening will pop stocks, question is for how long.

      •         

      •        Stock IBM VDA TSLA MU  WMT DE  Speculative QTUM GFS CRWV RKLB
Indices USO QTUM XLE UUP KWEB GDX SLV ARKX ETHE GLD IBIT IWM XLP SMH QQQ

S&P500  IBM TSLA ORCL  INTC WMT AMD NOW
Other  INFQ QBTS GFS RGTI XNDU APLD IONQ NBIS IBM CRWV IREN  RKLB BABA BILI AAL PLTR

TSLA

TSLA is an interesting name that may gain on the run-up to SpaceX IPO but risk whether holders sell to buy the IPO. TSLA has slight call skew and IV is not as extreme some other names so could be an interesting long idea > 420 with an upside target of 450 into SpaceX IPO