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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

**govt – government 

Color Key: Positive – Neutral – Negative

Global Markets: USA, Europe, Japan, China, Hong Kong Asia – Negative equity global set-up

·         Commodities:  Gold, Silver, Oil, natgas, AGGS, Industrial Metals 

·         Yields: Yields higher      Currencies:  USA +.25%

·         News:  USA: GDP, Durable goods 830ET        Europe: ECB rate decision 815ET  

·         Stocks:  F +2.5% UAW agreement  HSY +2.3% EPS FLEX +7.8%   META  -3.9% EPS MAT -10% HAS -13% ALGN -23% eps
Overview: USA SPY 415.1  support 415 410  and resistance  420 425. SPY expected move +/- 3.8  QQQ 347.3 with resistance 350 360 and support  345. QQQ expected move +/- 4.4.  Ahead of GDP print USA indices are lower with faangmt leading to downside. US$ and yields are higher which is negative for equities but GDP will be market moving.  S&P500 broke a major support level Wed and with negative gamma, volatility is elevated. Daily expected move and gamma levels are important to watch today for support and resistance. Weakness in FAANGMT is an issue, with stocks being sold despite good earnings, indicating distribution. Indices are oversold so always potential for short squeeze or breakdown. Today daily expected move levels: SPY (421.3-413.8) QQQ (354.7-345.9), IWM (167.1-160.4) SPX(4224.5-4149.0). 

Stocks to watch:   F, GM, HSY, NEM,  META, GOOGL, AMZN, ALGN, MXL, USO,     Spec Names GFI

Pre-800ET
Earnings:   HSY, STM,   EW, MAT, META, BMY, CARR, CMCSA, HAS, KVUE, LUV, MO, RCL, TSCO, UPS

Indices: VXX, UUP, GDX, GLD,  USO, ARKK, FDN, EEM, ARKF, QQQ, XLY, XLE, FAANGMT, SMH, XLI, XLK, XLV, TLT

S&P500: F, KDP, HSY, GM, NEM, ALGN, HAS, EW, TSCO, ANET, LUV, META, BMY, UPS, KVUE, CARR, GOOGL, NVDA, CMCSA, AMD, MRO

IWM: FWRD, MXL, RIOT, SAVE, IONQ, AI

WSB: F, RIOT, PLTR, COIN, TSLA, NVDA, UPST, RIVN, AI

Movers: EDR, FWRD, FLEX, STM, AU, GFI, STM, F, KDP, XPEV, TAL, HSY, ASML, GM, ALGN, MXL, HAS, MAT, VKTX, EW, TSCO, LUV, SAVE, ANET, SE, META, BMY, RIOT, UPS

Trade Idea: META

META down after an earnings beat and positive guidance but concern that some softness since the mideast events.  META is bouncing in premarket with 300 potential resistance. Straddle approach today with potential long > 300 with targets 305, 310 and potential fade < 295. May see a dip and bounce so will need to be nimble.