.

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 +0.22%  Currencies:  USA$+0.21% CAD -0.32% YEN -0.06%  BTC/USD+1.5%  Vix:19.95

      •        Events USA PPI 830ET; 30Y bond auction 13ET EUR Rate increase 2%-> 2.25%
Stock News: ORCL-7.8%    Earnings
Equity:USA and global indices bounced overnight after Wed drop but are pulling back post the USA PPI and unemployment report which are stagflationary with both higher than expected. Premarket the semis/AI names are bid with NVDA leading the MAGS.  ORCL lower post earnings with growth in the legacy business decreasing. Weakness in ORCL is negative for the software sector and impacting MSFT. The indices bounce from the lows is perhaps wishful thinking that the USA resumption of attacks or just cover of shorts. SPX is in negative gamma which means that larger moves are to be expected. The SpaceX IPO is Fri and some of the MAGS weakness may be attributed to freeing up capital for the IPO and may explain why the small and mid caps are outperforming. There has been a pattern of running up the indices into the open and should watch to see if the pattern continues. SPX 7300 can be used as a pivot level with 7350 and 7250 as initial targets.

Stock MU INTC HOOD     ORCL MSFT BABA   Speculative CPNG AXTI AAOI
Indices UFO SMH IBIT ETHE AIPO ARKX ARKG QQQ IWM   SLV UNG IG GLD KWEB UUP

S&P500  INTC SNDK MU TER HOOD AMD ORCL

Other CPNG AXTI DXYZ MRVL LUNR OKLO CRDO NVTS    BABA XPEV AU AAOI

ADBE

ADBE once a software leader has been squashed with concerns that AI is threatening its business along with general preference for AI hardware. Expected move +/- 19 . Call wall 300, put wall 220. Options skew doesnt indicate a particular preference higher or lower.  IV 170% for this week, one could consider a butterfly to the expected move for a one day trade with a high reward/risk ratio.