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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 – positive set-up

·         Commodities:  Gold, Silver, Oil, natgas, AGGS, Industrial Metals, Bitcoin

·         Yields: 30Y Bond +.08%  Currencies:  USA$ -0.03%, CAD +0.05%, YEN-0.06%,  BTC/USD +0.94%,  Vix: 17.4

·         Stocks: FLUT-2.2%, MCHP-5.6%, GDDY-2.5%, TTD-31%, PINS-12%, SG-30%, MNST+7.9%, XYZ+8.5%, TTWO+5.3%, EXPE+15.2%, GILD+5.5%, SOUN+25%, TEM+9.7%, MP+8%, RKLB+4%, EPS
Events: USA: Miren appointed to FOMC CDN: Employment report 830ET
Equity:  USA indices higher premarket led by small caps and speculative names. Trump appointed Miren to the FOMC which increases odds of a Sept rate cut and may be rational for regional banks and small caps which are more sensitive to rates bouncing (or up since down).  MAG7 have been driving the market and today being led by AAPL, NVDA with continuation from pop following the latest Trump move on tariffs despite no official change to export controls. TSM reported good July revenue and another reason to chase AMD (above daily expected move) despite negative earnings reaction however MCHP earnings miss indicate the semi industry ex-AI still has issues. Earnings names moving outside the expected move: MNST, EXPE, NTRA, CART, MP, SOUN, TTD, PINS, UAA and are candidates for continuation or potential reversion.  SPX is in the hands of 0DTE traders that took the SPX from an open at the top of the daily expected move to the bottom. Premarket 6370 is an upside level and 6350 a downside level to watch for bullish or bearish moves. Today is weekly Opex and may see reversals for stocks with either a lot of out of the money calls or puts (i.e. very bullish/bearish).

SPY 633.9  Resistance 635 637  Support 632.8 631 630; QQQ 570.3 Resistance 571.9  Support 570 567 565;
Daily Expected Move. SPX(6373-6306); SPY(635.6-628.9); QQQ(573.9-564.6); IWM(221.9-217.7)

Stocks to watch  AMD, NVDA, AAPL, IWM, TTD, MCHP,  Speculative SOUN, TEM, MP
Pre-800ET
Indices ARKG, KRE, ETHE, ARKK, IWM, XME, USO, XLF, GDX, SMH, UNG, IBIT, KWEB, GLD, TLT

S&P500  XYZ, LLY, AMD, PLTR, HBAN, TTD, MCHP,

Other SOUN, TEM, MP, RKLB, SBET, NVO, USAR, CRWV, XPEV, DJT, LUNR, JOBY, HIMS, SOFI, QUBT, SG, SEZL, PINS, PBR, BABA

AMD

AMD has bounced after dropping post earnings due to weaker data center guidance. AMD and NVDA both moved higher post the latest Trump tariff tweet and has gapped up premarket above the daily expected move. Above 175 potential for higher moves but with today’s Opex, failure to advance and call expiration can lead to retracement to 172.5 or 170. Potential fade < 174.