.

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 – neutral set-up

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

·         Yields: 30Y Bond –0.17%  Currencies:  USA$+0.17% CAD -0.17% YEN +0.05%  BTC/USD-1.45%  Vix:18.3

·         Events USA Retail sales 830ET; FOMC 14ET
Stock News:LZB+15%  earnings
Equity:USA indices flattish premarket with semis rebounding after some selling Tues. Semis broadly higher led by memory (DRAM) and CPU (AMD INTC QCOM). Macro has a hint of war returning or potentially FOMC concerns with US$, yields, oil  higher which is negative for gold. Details of MOU are sketchy but narrative of Trump surrendering may give him cold feet. MAGS are generally lower with NVDA which is lagging semis with GOOGL, META, MSFT leading to the downside. USA retail sales may be market moving, watch reaction by WMT and AMZN. FOMC meeting, today with no rate change expected and focus will be on the lean which had expected to be hawkish but potential that 40th “MOU deal” may result in a more dovish tilt which market will embrace. IWM most likely to react in either direction. SPX 7500 is a large support level with daily expected move 7570-7450. Vol typically is elevated into FOMC and reduction post can lead to a rally IF Warsh doesnt provide a negative surprise and Trump doesnt taco from the MOU.
 
Stock MU INTC AMD AMKR GOOGL MSFT  Speculative SPCX ASTS  POET MSTR
Indices SMH UNG XLK AIPO QQQ XBI ARKQ QTUM EFA  ETHE IBIT SLV GDX USO MAGS GLD KWEB XLC XLK 

S&P500  MU INTC AMD SNDK AVGO WDC SMCI QCOM 

S&P400 AMKR
Other ASTS AMKR FIG NVO POET BCS AAOI AXTI MRVL WOLF USAR  BABA SBSW MSTR HMC LUNR INFQ RGTI

AMKR

AMKR is higher on the announcement of a 10y agreement with TSMC for advanced packaging. Semis continue to be bubbling higher and AMKR is a picks and shovel name in the theme. It is technically extended and one can look for a pullback. Call positioning can lead to a squeeze above 90 with 95 and 100 targets above. IV rank 85% is elevated indicating monkeys are chasing so not for the feint of heart. Earnings Jul 27