.

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 negative    set-up

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

·         Yields: 30Y Bond –0.06%  Currencies:  USA$-0.03% CAD +0.06% YEN +0.11%  BTC/USD-0.57%  Vix:18.45

·         Events USA: ADP 815ET; Trump threatening Canada with 50% tariffs with Smoot-Hartley 1930 law
Stock News T+3.6% SMCI+17%  MCO–1.2% GEV-7.3%   Earnings
Comments USA indices lower premarket as AI/Semi names which were squeezed Tues pull back. Memory names leading to the downside as Korea Kospi pulls back. MAGS led by GOOGL which reports after the close and will be key to the AI/hyperscaler names and QQQ. Oil and 10Y yields higher as SoH tension continues  but gold and silver higher despite which is a change in correlation. GEV lower despite beat and raise, indicating that leaders need to blow out expectations to move higher. Watch for reaction in RTH. SMCI  squeezing higher post earnings, watch for reaction in RTH as the company has high short interest and a checkered past.  No macro data today so 0DTE traders in control with SPX 7500 a pivot level. Bond auction at 13ET may be market moving as will the tweets regarding the war in Iran.  With semis weak premarket, watch software and financials for potential rotation and the precious metal names for day trades

·        
Stock GOOGL MSFT  GEV MU NVDA    Speculative   SMCI RKLB BE
Indices USO GDX SLV XLE GLD UNG XLU ETHE XLC  DRAM SMH KWEB IBIT XLK QQQ AIPO IWM SPY

S&P500 SMCI T HPE   GEV MU INTC SNDK MRVL WDC GLW
Other XE RKLB OKLO ASTS VG PEGA RDDT BE XPEV CRCL NBIS NOK

GOOGL

GOOGL reports earnings after the close. GOOGL being the first hyperscaler reporting,  will be influential for the AI sector. Focus will be on capex spending forecast and return from cloud services in addition to ad and search revenue. Expected move is +/- 12.8. Positioning is leaning to calls with potential for a squeeze above 350 and support 320/310.  Option strategies like diagonal can be used to take advantage of the elevated short term volatility or a butterfly for this week but potential for a larger than expected move. GOOGL has moved outside the expected move 8/17 times but only 1 of the last 5 earnings resulted in an outsized move. GOOGL is flat since the last earnings release and trading sideways since June 1.