.

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 – slight positive set-up

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

·         Yields: 30Y Bond –0.16%  Currencies:  USA$-0.14% CAD +0.06% YEN +0.06%  BTC/USD+0.19%  Vix:19.55

·         Events USA Consumer sentiment 10ET;
Stock News  ON-14% buying SYNA
Equity:Global indices lower premarket with Korean KOSPI halting trading for second time this week after an 8% drop with Hynix and Samsung leading the decline. Contagion from Korea memory names can infect MU SNDK and spill over into the general semi group. AI related names lower with profit taking and potential spillover from AAPL comments that rising memory prices leading to higher product prices.  Memory shortages and higher prices is a negative for AI data centers and with AI customers reducing usage due to token cost, increases the spectre of higher cost and lower revenue for the AI providers. Russell will be rebalancing at the close which can impact names at the close. SPCX is the largest name and CRWV, BE, FORM are some smaller names. These may see buying into the close but caveat is potential weakness Mon so could be a short term trade. SPCX has been weak but still on tap for addition to NAS100 in July.  This week the market has been rotating rapidly into interest rate sensitive, value stocks at the expense of the large cap momentum names which have been leaders. The AI/semi names need to be watched closely as they are crowded and the sentiment is turning  and there are reports of outflows from the tech names. SPX 0DTE 7340 is potential resistance and the largest position with acceleration above. Put wall 7300 is support where bounce likely if tested and a breach would be serious.

Stock MSFT AAPL  MU MRVL ON    Speculative RKLB AAOI ARM 
Indices UNG GDX GLD XLP SLV IGV XBI XLU  USO SMH APO KWEB XLK QTUM QQQ UFO

S&P500 PLTR MSFT ON SNDK MU MRVL AMD INTC SMCI GLW ORCL NVDA
Other RKLB FIG UMC AAOI MRVL ARM NOK NVTS BABA TCOM NBIS IREN AXTI QBTS POET APLD CRWV

PAVE

PAVE is an infrastructure ETF which is breaking out. Technically is extended so may look for a pullback. Holds a basket of industrials and materials so is sensitive to AI data center and general commercial construction.  Holdings are not pure tech and less sensitive to semi pullback but sensitive to USA economic strength. Largest holdings PWR, CSX, ETN, HOM, TT so industrial names which are outperforming the S&P500 and Nas100 which are tech heavy.