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

·       Yields: 30Y Bond +0.91% Currencies: USA$-0.7%, CAD +0.14%, YEN +1.27%, BTC/USD+1.48%, Vix:18.7

·       Events USA: Axios published an article that USA and Iran are close to an agreement to end the war
Stock News: AMD+18%, SMCI+13%, COHR+1%, DIS+4%, KHC+2.9%,    ANET-8.6%, DVN-7.7%, COP-7% Earnings 
Equity: Global indices are squeezing higher since 430ET when Axios stated that the USA and Iran are close to an agreement, but it appears that USA has sent a proposal and is waiting for a response from Iran. Meanwhile USA has been moving aircraft, tankers, and ships into the region, suggesting a restart of the war. S&P is well above the daily expected move, and SPY is at the 730 call wall.  Potential that this is not a continuation of the efforts to control the stock market and oil market or not. If this is just propaganda ahead of another strike, then  Vix or energy calls are an idea. For now the peace trade is on, which means bonds, equity, speculative stocks higher and oil, aggs, US$ lower.  AI trade is squeezing higher led by semis post AMD earnings which beat expectations and moved above the daily expected move. The dispersion trade is evident with NVDA+2.3% AVGO+1.9%  but AAPL and MSFT lower. When large moves occur in largest names, other names need to go lower if index is contained. The move lower in the US$ and yields leads to metals, emerging markets, high short interest stocks higher and the lower oil is lifting airlines and cruise names and decreasing the oil producers and chemical names.  The premarket moves are somewhat extreme so one needs to care chasing and be aware that there currently is no agreement and potential for a resumption of the conflict.

·       Stock NVDA, AMD, MU, GLW, ANET, OXY Speculative SMCI, HUT, GFI, OKLO, WOLF, UPST
Indices GDX, FEZ, IBIT, AIPO, SMH, SLV, ETHE, QTUM, GLD, XBI, XLK, /CL, UNG 

S&P500 AMD, GLW, SMCI, UBER, CCL, UAL, DAL, NEM, FCX, GE, QCOM, MU, ANET, DOW, OXY, DVN, CVX, XOM, MOS

AMD

AMD moved above the expected move on better-than-expected earnings and guidance. Some levels to watch in RTH. The anchored VWAP to the premarket high can be used to gauge if buying pressure or selling pressure is entering. 400 is a large call position, and if the price falls below, selling by market makers can pressure the stock lower. The level prior to the Iran news is another level to watch, as the move above may be just a market boost related. The anchored VWAP to the close is the final line in the sand and bulls need the price to stay above. The next reference level is the 380 level, below 400.