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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 – slight positive set-up

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

·       Yields: 30Y Bond +0.17% Currencies: USA$-0.17%, CAD 0.01%, YEN -0.05%, BTC/USD+1.8%, Vix:19.2

·       Events USA Consumer confidence 10ET
Stock News: DY+23%, BBWI+10%, ANF+2.9%, APPS+19%, PDD-8%, DKS-1.3%, ZS-24% Earnings
Equity: USA indices higher premarket led by QQQ and IWM. Oil, yields, US$ lower as market continues to front-run an end to Iranian war. The sectors du jour continue to be semis, space, datacenters, and quantum i.e., meme. Memory continues to be squeezed with MU up another 7% as call buyers squeeze it. Space continues to squeeze ahead of SpaceX IPO. MAGS are led by TSLA, which is higher on the potential of a merger with SpaceX. Otherwise, MAGS are lagging QQQ and appear to be a funding source for other AI names. ZS twice the expected move lower despite earnings beat, but guidance was lower than expected. Software sector and security names are lower with MSFT, PLTR, PANW trading lower and IGV -1.2% vs SMH+3%. Gold and silver are trading lower despite yields and US$ lower which indicates the usual correlation is broken and may reflect selling to pay for energy. Canadian banks BMO and BNS are trading lower post earnings but reported earnings increases and dividend increases. SPX is well supported in positive gamma as volatility continues to fall with 7500 the key level to watch today  

Stock NVDA, TSLA, MU, DRAM, ZS, USO, XLE Speculative APPS, BBWI
Indices UFO, SMH, ARKX, QTUM, AIPO, XLK, ARKQ, UNG, USO, SLV, GDX, XLE, GLD, KWEB, IGV, IBIT

S&P500 MU, WDC, ON, SMCI, CCL, NCLH, SNDK, AVGO, TSLA, IBM, PLTR

CRM

CRM reports after the close, along with SNOW which will be important for the Saas and software sector. CRM expected move +/- 23. IV  197% this week, can consider an unbalanced butterfly to allow for a move greater than the expected move. Call wall 200, put wall 170, and moving beyond can lead to larger moves.