.

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 – positive  set-up

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

      •        Yields: 30Y Bond +0.48%  Currencies:  USA$+0.08% CAD -0.14% YEN -0.03%  BTC/USD-0.40%  Vix:19.45

      •        Events USA Consumer confidence 10ET
Stock News: ROST+4% TTWO+3.8% WDAY+8% BJ+1%   CPRT-1.2%  Earnings  FUTU -37% face penalties for operating in mainland China without a license
Equity: USA indices and global indices ex-China are higher premarket.  KWEB is significantly lower and maybe due to regulation concerns with FUTU and TIGR facing penalties. MAGS are flattish and led by NVDA and NFLX which had a strong move Thurs and reached the upper expected move. Software higher with WDAY earnings beat providing some  confidence that all SAAS names are not dead. Semis are a mixed bag, memory lower after a big move Thurs and AMD higher following a drop Thurs on concerns that NVDA moving into CPUs with ARM cores. ARM had a big move Thurs and pulling back premarket.  IBM is higher today along with quantum names following a large Thurs move on the back of USA govt investing in quantum. The one name left out is IONQ which is lower [INFQ GFS IBM RGTI QUBT]  Space names continue to run ahead of SpaceX IPO, RKLB bouncing after a secondary. Data center names pulling back after a huge squeeze Thurs post NVDA earnings which confirmed that AI spending will continue to be robust until the end of civilization.  SPX is well supported and usually before a 3d weekend, vol sellers support the market; however the ongoing war and potential for events may dampen selling. SPX positioning indicates resistance at 7515 and closest support at 7460 followed by 7400.

      •        Stock NVDA IBM AMD WDAY  MU BABA   Speculative INFQ LWLG BE FUTU
Indices UFO /CL QTUM IGV AIPO ARKX SMH USO SPY KWEB SLV ETHE GDX GLD UNG IBIT

S&P500  WDAY IBM AMD NOW IBKR SNDK
Other  INFQ GFS LWLG NOK BE RKLB RGTI MRVL QUBT ERIC FUTU TCOM PDD LI BABA IONQ BIDU XPEV APLD IREN NBIS ARM DXYZ

RKLB

RKLB is a space company which benefits from commercial and sovereign launches and the halo associated with the SpaceX IPO upcoming in June. RKLB is a member of the UFO ETF which holds other space names like ASTS, LUNR, PL.  Large call positions 130, 140, 145, 150. Above 130 potential for a squeeze higher. RKLB is flagging  in a wide range 118-132 and is closer to the top of the range so risk is a pullback to the bottom of the range. IV high so call verticals are a strategy to consider or potentially short puts if one wishes to buy at a lower level.