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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 – negative  set-up

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

·         Yields: 30Y Bond +0.33%  Currencies:  USA$ -0.04%, CAD +0.11%, YEN +0.13%,  BTC/USD-0.35%,  Vix:18.10

·         Events: USA: Service, mfg PMI 945ET; UofM 10ET Canada: Retail sales 830ET
Stock News:INTC-13%  BAH+5.3%  earnings;  ERIC+7.6% cutting 5k jobs NVDA+1.6% article that China may buy H200

·          Equity: USA indices lower premarket but outperforming the large global markets. Commodities continue to lead with natural gas continuing to run with weather forecast for very cold weather hitting parts of USA.  Concerns of power loss in states like Texas is pushing up generator companies like GNRC. INTC is the big news name falling on weak guidance and flagged that demand for AI datacenters leading to shortages. MAGS led by NVDA on a unverified news report that China companies may buy H200. AVGO lower and AMD higher with latter likely moving on the China news. Metals continue to be strong with speculative lithium (SGML), rare earth metals (CRML, USAR), gold/palladium (SBSW, AG, HL) all well bid so squeeze continues until it doesnt. SPX 0DTE looks well supported which can lead to a choppy day with 6890-6940 chop zone. USA data at 945ET and 10ET may be market moving as would any news from China. Next week there are some major stocks reporting so some caution may be warranted.

Daily Expected Move. SPX(6961-6865)  SPY(693.8-684) QQQ(625-616)  IWM(272-267)

Stocks to watch NVDA AMD SLV UNG INTC AVGO META   Speculative SGML USAR SBSW  MBLY BABA
Indices UNG SLV /CL UFO XLE MSOS GLD TLT ARKX GDX  SMH IBIT QQQ XLF XLB 

S&P500 FTNT SMCI AMD CSX NVDA DRI ISRG GE FSLR  INTC COF MRNA AVGO PFE FCX WDC SHW SYF
Other SGML USAR CSIQ RDW CRML SBSW HL AG NVO NVTS BABA QBTS JD  

INTC

INTC moved lower than the expected move with guidance poorer than expected.  INTC is at a volume support level and just below a major put level of 48. Analysts are generally upgrading despite the poor results with nominal target $45.  Below 46.5 look for 45 which is 50% of the run from Dec 2025 lows and below 45, major support at 40. May be a candidate for a put sell with duration for a bounce but need some evidence that bottoming.