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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 – Neutral global set-up

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

·       Yields: 30Y Bond -0.6% Currencies: USA$ -.35% CAD +0.95% YEN-0.30% BTC/USD -1.7% Vix: 17.8

·       News: USA: JOLTS 10ETET; FOMC Bostic, Daly speaking Mexico/Canada: Tariff delayed by 30d based on plans to tighten borders China: Counter tariffs of 15% on USA coal, LNG; 10% on oil, autos and agg equipment

·       Stocks: PLTR+21.5%, CLX, DOC, FN, RMBS, MRK-5%, PEP-2%, PFE+1.7%, KKR, SPOT+8.4%, UBS, PYPL-4%, RACE+3.2%, TDG, EPD+.2%, RGEN+2.8%, CMI, MPC, CNC, XYL, EL-7.3% EPS China added PVH and ILMN to list of unreliable entities and initiated anti-trust review of GOOGL and probe of INTC

·       Overview: SPY 598 Resistance 600 602 Support 595 594; QQQ 519 Resistance 520 522 525 Support 515. USA indices bounced post Mon close but then pulled back through Asian and European sessions with NY premarket bounce to SPX6000, which is a key level. Macro is mixed with US$ lower after Mexico and Canada tariffs delayed for 30d but yields are higher. Oil and natgas are lower after China added tariffs. USA indices are  flat with SPX6000 a major level. 0DTE positions may keep range between 6040-5950 with reversion if these levels are hit. MAG7 are led by GOOGL, META and TSLA with GOOGL reporting after the close. AMD is higher and also reporting today. PLTR has moved above the expected move on an earnings beat and a potential squeeze name. China stocks are higher inspite of the tariff war and most do not rely on USA for revenue. The speculative tech names are still attracting capital with AI (RGTI, SOUN) Space (ASTS RKLB) Quantum (RGTI) Datacenter (ANET OKLO) all bid.  Weak earnings moves: MRK, PYPL, PEP Strong earnings moves: PLTR, SPOT. Can look for continuation on the open or reversal.


Expected Move  SPX (6050-5940) SPY (602-594) QQQ (523-513) IWM (227-221)

Stocks to watch PLTR, AMD, GOOGL, MRK, PYPL, AAPL Speculative   TEM, RGT, SMCI
Pre-800ET
Indices ETHE, KWEB, FXI, IGV, ARKK, SLV, FEZ, XLK, SMH, XLC, GLD,  UNG, USO, IBIT, TLT, UUP, XLV

S&P500 PLTR, SMCI, ANET, PFE, AMD, GOOGL, MRK, EL, PYPL, PEP, INTC
Other SPOT, KC, XPEV, BILI, LI, TEM, RGTI, JD, RKLB, SOUN, ASTS, TSM, OKLO, PDD, BABA, HOOD, NBIS, UBS, CNH, DKNG, MRVL, MSTR

Trade Idea: GOOGL

GOOGL reports after the close and one of the stronger S&P stocks. Expected move +/-12 (213-189). Call wall is 220 and put wall 180 suggests potential to move greater than the expected move. Option skew has a bearish lean, perhaps due to hedging. Directional trade idea is diagonal or calendar trades to take advantage of elevated IV. GOOGL potential run into earnings today. Expect META to move with GOOGL post earnings release