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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 -0.2% Currencies: USA$+0.47%, CAD -0.29%, YEN -0.78%, BTC/USD-1.66% Vix:18.55

·       Events USA: Consumer confidence 10ET Japan: MOF intervened Thurs but no rate change, leading to lower Yen

·       Stock News AMZN+11%, MPWR+11%, AAPL-7.7%, RBLX-22%, ABBV-3.3%, SYK-6.6% Earnings
Comments USA Indices higher again as AI/Semi rebound. Korean speculators have the fever as Hynix was limit up, which is positive for memory. AMZN moved twice the expected move higher and AAPL 2x the expected move lower post earnings.  AI bulls are cheering the AMZN capex numbers and traders are disregarding that 85% of AMZN headline earnings is due to an increase of the value on Anthropic investment. AAPL lower on China revenue lower and lower forecast.  Semis continue to be squeezed as are AI related names in optical, power and especially unprofitable neoclouds like NBIS CRWV, IREN.  Japan did a currency intervention Thurs which led to US$ lower and metals higher but Yen is lower today as BOJ kept rates unchanged which is leading to metals reversing lower. SPX 0DTE is poorly supported and risk of a large drop below 7450 with minimal support to 7350 and upside resistance 7475. Potential for hedging into weekend with geopolitical risk still elevated and Trump history of attacking on Fridays after the market is closed.

Stock AMZN, MRVL, SKHY, AAPL, NOW, COIN Speculative AXTI, NBIS, RBLX
Indices DRAM, AIPO, XLY, SMH, USO, QTUM, UNQ, ARKQ, XLI, QQQ,  ETHE, SLV, GDX, IBIT, GLD, IGV, XLV, EFA 

S&P500 AMZN, COHR, MRVL, LITE, VRT, WDC, STX, INTC, GLW, SNDK, MU, AAPL, COIN, NOW, MRNA, NFLX
Other AXTI, NBIS, BE, CRWV, IREN, BABA, CIFR, RKLB, IONQ, RBLX, RDDT, NVO, BMNR, CRCL

AAPL

AAPL lower post earnings. Options positioning and volume profile indicate support at 300 and resistance at 310. It has moved > expected move so while below premarket high, potential for 300 and above look for 310