.

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 Asia – Slight positive  global set-up

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

·         Yields: 30Y Bond -.3%  Currencies:  USA$  +.02% Vix: -.5%

·         News:  USA: ISM, PMI, 10ET  CDN: BOC business outlook 1030ET
Stocks:  MMM -14%   $12.5B settlement AAPL  Price target cut; FDX replaced by UPS with USPS
Overview: USA SPY 524 support 523 520 and resistance  525, SPY expected move +/- 2.7. QQQ 445.1 with resistance  447  and support  445 442 440 ; expected move +/-3.2.  USA indices higher since Thurs evening and pulling back premarket from close to the daily expected move. Trading will be light with Canada, Europe, Hong Kong closed so potential for greater manipulation by 0DTE. Metals are leading with notion that China will stimulate and global economies may improve. MAG7 premarket bouncing with AAPL and TSLA lagging on broker comments.  Levels to watch on pullback are SPY 520 and QQQ 445. Moves outside daily expected moves can lead to much larger moves. Today’s daily expected move levels: SPY (525.8-520.3),  QQQ (447.2-440.8), IWM (212.2-208.4), SPX(5280-5228.7). 

Stocks to watch:  NEM, UPS, GOOGL, MSFT, META, TECK, CCJ, MMM, FDX,   Spec Names: GFI

Pre-800ET
Earnings  
Indices: VIX, GDX, KWEB, FXI, GLD,  IWM, QQQ, XBI, SLV,  IBIT, TLT, UUP
S&P500:  NEM, DAL, UPS, FCX, DVN, MU, UAL, MMM, T, FDX,
Movers: SGML, CCJ, BE, GES, LI, SMTC, BILI, JD, DAL, TECK, NEM, GFI, DOC, UPS, AA, GOLD, ZM, PAAS, MMM, CLSK, MSTR, BILL, MARA, T, FDX, COIN, RIOT, DT

Trade Idea: FDX

FDX is trading lower as UPS is now providing service to USPS. Significant revenue loss but lower margin business. FDX potential bounce opportunity > 285 or below 285, pullback potential to 280. Loss of business may fit well with FDX goal of improving margins whereas it could be negative to UPS.