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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 – Positive global set-up

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

·       Yields: 30Y Bond +.11%  Currencies: USA$ -.1%  Vix: -.05%

·       News: USA: ADP Jobs 815ET; UE Claims 8:30 am ET; ISM Services 10:00 am ET; FOMC Minutes 14ET EUR: PPI m/m -0.2% China: Caixin Services 51.2 vs 53.4
Stocks: STZ +2.7% EPS PARA+11.9% Selling BET network TSLA +1.9% Squeeze continuing
Overview: USA SPY 548.7 support at 547.2 and 545 and resistance at 549.5 and 550 SPY expected move +/- 1.8. QQQ 486.5 with resistance at 490 and support at 479, 485, and 480 expected move +/- 2.5. Equities are higher ex-USA with Europe higher with lower PPI and improving services PMI. China higher broadly and commodities lifting perhaps trying to front run China stimulus. USA data indicates a slowing jobs market with ADP 150k vs 163k, UE claims 238k vs 234k, and job cuts increasing. Reaction is yields lower, US$ lower. SPY and QQQ are pulling back after Tues larger than daily expected move and IWM is outperforming. Potential for rotation into non-tech sectors which is negative for the market cap weighted indices. Lower yields and US$ is usually positive for foreign stocks, commodities, fixed income, and blue chip dividend payers  ISM services data at 10ET is market moving. Short trading day with FOMC minutes after the market is closed may lead to some hedging into the holiday with non-farm payroll before the open Friday. SPY, QQQ and some MAG7 are short term extended so potential for de-risking with the caveat that low volume markets are easy to manipulate. Today daily expected move levels: SPY (550.8-547.2  QQQ (489.5-484.5), IWM (203.2-200.6) SPX(5497.5-5452.7). 

Stocks to watch TSLA, STZ, FCX, PARA, MSFT, NVDA, NVO, Bitcoin

Spec Names BEKE 

Pre-800ET
Indices GLD, FXI, EWC, EFA, XLY, XBI, IWM, ARKK, IBIT, UNG, ETHE, XLK
S&P500  PARA, STZ, TSLA, FCX, WRK, FSLR, MRNA, NEM, 
Movers PARA, LI, DB, STZ, BEKE, DELL, RIO, ENVX, TSLA, BCS, PAAS, ONON, FUTU, FCX, PHG, ENVX,  BTDR, IREN, HUT, RDDT, MARA, DJT, CLSK, CORZ, NVO, MSTR

Trade Idea: TLT

Debated this idea versus GLD or SLV. Weaker jobs data may be a catalyst for pricing in economic slowdown and hence positive for TLT with the caveat that inflation also needs to come down. TLT is relatively low and a bounce back to 93-94 makes risk reward attractive.