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Date: Dec 13, 2023 

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 – Neutral equity global set-up

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

·         Yields: 30Y Bond +26% Currencies: USA +.06%

·         News: USA: PPI 8:30ET; FOMC 14:00ET UK: GDP -0.3% m/m vs -0.1% EUR: Industrial Prod -0.7% m/m

·          Stocks: PFE -7% Guidance cut VRTX +7% Positive results TTWO +3% added to Nasi 100
Overview: USA SPY 464.6 with support at 461 and 460, and resistance at 465 and 466.85, SPY expected move +/- 2.75.  QQQ 399.57 with resistance at 400 and 401.95, and support at 395, QQQ expected move 3.3.  Global indices muted ahead of USA PPI and FOMC meeting.  Macro mixed with yields lower but US$ higher and crude oil higher.  MAG7 mixed with MSFT and AAPL leading, and TSLA lagging but overall MAG7 outperforming.  QQQ is above the expected move for the week driven by semis which are well above the expected move.  PPI premarket will be a market mover as will the FOMC. Powell is expected to talk hawkishly so potential for a pullback but drop in IV post meeting and overall positive gamma may lead to a bounce.  SPY 455 is the key bull/bear level.  Watch the daily expected move levels.  Today’s daily expected move levels: SPY (466.85-461.35), QQQ (401.97-395.4), IWM (189.1-184.9), and SPX(4671.2-4646.2). 

Stocks to watch MSFT, AAPL, VRTX, TTWO, PFE, MRNA, BNTX, TSLA

Spec Names RBLX, PLAB, ABNB   

Pre-800ET
Earnings ABM, PLB

Indices /USO, faangmt, TLT, IBB, XLK, QQQ, XLE, XLF, UUP, KWEB, XLB, EEM, VXX, ICLN, ARKK

S&P500 VRTX, TTWO, ABNB, KVUE, LEN, ALB, PFE, LIN, MRNA, LUV, SEDG 

IWM SAVA, TH, RCM
Movers VRTX, TTWO, AZN, TAL, RBLX, BUR, ABNB, STLA, SAVA, PFE, LIN, MRNA, AU, BNTX, XPEV, LUV, WDS, GFI, FUTU 

Trade Idea: MSFT

MAG7 stocks have been sold down due to Nasdaq rebalance.  MSFT is a potential bounce candidate, now above the gap from Dec 4.  Daily expected move range 380-369.