.

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, Copper,  Palladium, Oil, natgas, AGGS,  Bitcoin

      •        Yields: 30Y Bond +0.03%  Currencies:  USA$-0.30% CAD +0.25% YEN +0.31%  BTC/USD+1.37%  Vix:18.6

      •        Events USA: PPI 830ET;
Stock News:    WFC-2.5%  C+0.87%  BLK+2.2%  KMX-5.4% JNJ JPM-0.35% Earnings  NVO deal with chatgpt
Equity:  Global indices higher in absence of a material change in the middle east as oil declines which leads to lower US$ and lower yields. Vix is being actively sold ahead of Vix expiration Wed morning which should be positive for equity markets which have been rising on diminished volume with mechanical flows positive. May see an increase in volatility Wed post vix expiration and ahead of the Thurs ceasefire discussion. Premarket MAGS are strong and the lagging software sector is higher again with ORCL, the despised/shorted name rising like lazaris for another day. AI related names continue to be in favor with optical, memory, infrastructure and semi bid. Specialty semi (CRDO), Energy (BE), infrastructure (CRWV, IREN, NBIS) are all AI related names with higher short interest and potentially weak fundamentals and suggests that either shorts are covering or BTD with confidence that everything is good for AI spending. Other speculative sectors with strength are space related and bitcoin related. USA liquidity has improved which has lifted equity but note Wed USA taxes due is normally negative for liquidity and combined with Vix expiration may lead to softness absent an actual positive change in the middle east situation. SPX, QQQ are at the call wall which can reduce upside movement. IV has fallen substantially which has lifted equity but reduces movement but can lead to a larger move on a geopolitical event. Financials have had mixed reactions with JPM having ok results but cutting guidance citing geopolitical, energy, trade uncertainty. Watch for reaction today, GS bounced Mon after a dip. ASML is reporting after the close and will add some color to semi equipment spending and TSM Thurs BMO.

      •        Stock NFLX SNDK MRVL OXY   NVDA MU GOOGL    Speculative  VG  NBIS
Indices ETHE UFO SLV IBIT ARKK IGV SMH QTUM GDX MAGS IWM  /CL UNG USO XLE US$ XLF

S&P500 ORCL LUV HOOD WDC UAL COIN F VRT SMCI SNDK DAL STX COHR MU   WFC HPQ DELL MO OXY
Other  CRDO BE CRWV IREN CRCL AAOI ASTS RKLB NVO NBIS IONQ  BTI RVMD VG XPEV 

AIPO

AIPO is an AI Power ETF with top holding  Vertiv, Quanta, GE Vernova, and Eaton. It’s had a big move so best to look for a pullback but seems like AI is still the bright shiny object and traders are looking for something other than NVDA. A name to checkout is Modine which has had some large dark pool and leap option buys and is an alternative to VRT