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Laurie’s Abbreviation Index:

‘div’ – dividend 

‘m/m’ – month over month

‘y/y’ – year over year

‘Inven’ – Inventories

Color Key: Positive – Neutral – Negative

Market Setup Pre-8:30 AM ET

Global Markets:  USA, Europe, Japan, China, Hong Kong Asia –  Positive equity global set-up

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields are higher

•Currencies:  US$ -.07%; $CAD +.24%

News: USA: GDP Premarket;

•Stocks: NVDA  +10.6% beat; BABA +6.2% DG -2% revenue warning; DPZ -9% -guidance; EBAY -5% -guidance; MRNA -2.6% EPS miss; LNTH +12% beat;

General: Leading: China Internet, Semis, Tech, Energy Lagging: bonds

Overview: USA indices rose after Wed close and are flat overnight. Macro neutral with European indices higher, US$ lower, yields are higher. SPY 400 support of 397, and 395 with resistance at 400, and 405. SPY expected move +/- 2.6 today. QQQ 296 with resistance at 297, 300, 305 and support of 295, and 290. SPY and QQQ key levels 400 and 300 levels and hence at risk of further downside.  NVDA earnings providing a risk-on sentiment with high short interest names bid. In my opinion, Indices are at levels where a potential for short squeeze is higher or continuation to the recent selling with bond volatility and yields the driving factor. PCE tomorrow is another market moving event. Bostic 1050 and Daly 14:00 ET may move markets today.

Stocks to watch NVDA, BABA, AMD, TSLA, DG, EBAY, YETI Spec Names LNTH, LUNR, ENVX

Pre-800ET

Earnings NVDA, BABA, ETSY, CTRA, APA, PXD, RELY, LMND, BMBL, LNTH, VIPS, NEO, APA, EBAY, MGNI, BROS, BBWI, MRNA, MOS, W, MRNA, PAAS, FIVN, TDOC, YETI

Indices KWEB, SMH, SOXX, XLK, ARKK, QQQ, EEM, XLE, faangmt, LIT, XBI, EWZ, XOP, IWM, TLT, /btc

S&P500 NVDA, ETSY, AMD, MU, AMAT, CTRA, APA, INTC, LRCX, TSLA, PXD, QCOM, MSFT, OXY, NWL, EBAY, DG, BBWI, NTAP, MOS, MRNA, DLTR

IWM LNTH, RELY, LMND, AI, BMBL, FRO, LXU, CNK, APPS, LPSN, FSLY, MGNI

WSB NVDA, BABA, AMD, NET, AFRM, PLUG, TSLA, UPST, NIO, COIN, BROS

Movers LNTH, NVDA, BABA, VIPS, ETSY, AMD, STLA, PLNT, LMND, BILI, MRVL, NEO, JD, PDD, AI, DOCU, BIDU, NET, YETI, MGNI, U, BROS, EBAY, DG, FMS, BBWI, TDOC, FIVN, ACI, AZN 

My Trade Idea: NVDA

In my analysis, NVDA is in play on a beat of lowered expectations. Potential short squeeze with targets of 240 and 250. One can look for pullback > 230 with long towards premarket high. Move < 230 is a potential fade trade. AMD, QCOM and other semis are trading in sympathy