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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

** ‘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 +.03%  Currencies:  USA$  +.24% Vix: -.85%

·       News:  USA: ADP 830ET; ISM services 10ET EUR:Services PMI inline  Canada: BOC rate decision 945ET China: Caixin services 54 vs 52.5 AUD: GDP q/q .1% vs .2%
Stocks: PVH-1%, DLTR-3%, CRWD+11%, HPE+14.5%, SFIX+14%, GWRE+8% EPS
Overview: USA SPY 530.2 support 530 528 525 and resistance 530.6 531.2 535  SPY expected move +/- 2.8. QQQ 457.2 with resistance 458 460 and support 455 453 450  expected move +/- 3.3. USA indices are advancing ahead of ADP jobs report with QQQ and MAG7 doing the heavy lifting with NVDA and META already above the daily expected move, hence extended or can run further. Semis in general are well bid with TSM AMAT ASML moving. NVDA comments lifted Samsung and helping Korea index. India is higher today with a reversal from yesterdays selling (golf clap for me). CRWD earnings are lifting security stocks (hitting target of yesterdays option idea) and generally helping cloud stocks to get off the mat. HPE earnings reaction possible and again helping tech. Macro set-up is mixed with yields lower but US$ higher mostly due to Yen lower. Large cap indices are at inflection point levels which can lead to a breakout or rejection depending on ADP and ISM services data. Pre-market the set-up is for a weak/inline ADP and a softer ISM with narrative that Fed can then cut rates. May get a poor reaction if data is too strong (good for economy).  Today daily expected move levels: SPY (530.6-525)  QQQ (456.4-449.9), IWM (206.4-202.8) SPX(5311-5255.8). 

Stocks to watch NVDA, META, CRWD, HPE, TSM, ASML,  DLTR   Spec Names  VIR

Pre-800ET
Indices MSOS, IGV, IBIT, QQQ, XLK, ARKK, USO, GLD, SPY, UNG,
S&P500  HPE, SMCI, AMAT, NEM, MU, PANW, META, NVDA, QCOM AMD, LULU, DLTR
Movers CRWD, VIR, ASML, HDB, NTES, OLLI, IBN, GSK, BILI, CLSK, ZS, MARA, STLA, NICE, MT 

Trade Idea: HIMS

GLP1 names have been strong with leaders NVO and LLY continuing to run. HIMS offers a lower cost treatment that somehow avoids patents. Technically all are stretched and lower risk approach is to wait for a pullback but momentum traders can go long over 21.5. IV is high and call skew is bullish so option traders can use OTM call spreads to trade the upside with caveat that stock is extended. VKTX is also worth watching, also in the space and pulling back and a potential acquisition target but technically falling into a gap.