.

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 – neutral  set-up

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

·         Yields: 30Y Bond +0.14%  Currencies:  USA$-0.10% CAD -0.04% YEN +0.01%  BTC/USD+0.22%  Vix:19.25

·         Events USA: S&P PMI 945ET; EUR: European and UK PMIs improving and better than expected
Stock News VZ+0.98% SLB+2.1% INTC+3.75%  AXP-2.3%   Earnings
Comments USA minor bounce after Thurs outsized move lower. Oil lower despite media discussing potential for large USA attack tonight after the market closes based on Trump’s modus operandi. Semis lower as Korean market lower, weighing on MU. INTC higher with earnings beat and forecast for more spending, which is good for semi equipment companies but INTC sold down from high of 114 to 103 potentially due to the capital raise or weak margins or PC demand not strong or foundry biz immature or profit taking. Software is bouncing from Thurs dip with ORCL bouncing thanks to USA Defense giving Ellison a contract and MSFT PLTR NOW higher which may be the usual daily rotation from semi to software. MAGS are led by MSFT with ant size bounces by GOOGL AMZN AAPL which were battered Thurs. Market IMO appears to be concerned with vast spending for uncertain returns at the same time that geopolitical risks are increasingly uncertain and impacting the macro picture with no obvious end date to the latter. SPX 7405 is the largest 0DTE support with some support at 7360 and then the put wall at  7300. Upside resistance at 7460. QQQ put wall has shifted lower to 680 with prior 690 level the line in the sand. The USA PMI data 945ET may be market moving; Europe is higher with its PMI data improving and better than expected.

Stock INTC ORCL MSFT  NVDA AXP   Speculative  FIG  MXL
Indices SLV GDX MSOS IGV IBIT IWM RSP KRE  DRAM USO XLE KWEB

S&P500 INTC ORCL NOW MSFT   SNDK MU PFE MRVL
Other AMKR SAP STM FIG AAL CLF NVO MXL SNDK BABA

PWR

Quanta services provides infrastructure services for electrical utilities, pipelines. Technically potentially turning up but susceptible to general market weakness and concerns regarding AI data center spending. Earnings Jul 29 so may want to wait for the report.  PWR is a holding of the PAVE ETF which is a diversified basket of rails, construction and power names. PWR has potentially more upside than PAVE based on technicals but obviously riskier. Other names in PAVE are CSX, URI, TT, HWM, DE. HWM, CSX are at highs and would be momentum trades. Rails in particular have been outperformers.