.

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

Color Key: Positive – Neutral – Negative

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

·         Commodities:  Gold, Silver, Oil and natgas, Softs, Industrial Metals 

·         Yields: Yields are flat

·         Currencies:  US $ -.09%

·         News: USA: FOMC Kashkari, Bullard premarket, Bostic/Barkin 1105;  Canada: closed  Japan: Machinery orders m/m -3.9% vs 0.5% expected 

·         Stocks AAPL -1% downgrade; MU -3.7% China ban reprise; META -.7% ECB fine; NKE -1.7% downgrade; ZIM -8.5% EPS; JPM +0.2% NII increase on FRC acq; AMD -.8% semi breather

·         General: Leading: China internet, regional banks, small caps   Lagging: Semis, technology, oil

·         Overview: USA SPY 419.12 displays support of 417.3, 415, 412.35, 410, and 405 with resistance at 420. SPY expected move +/- 2.2. QQQ 336.7 with resistance at 338, and 340 displays support of 335, 330, and 325. QQQ expected move +/- 2.2. Macro setup is neutral with yields flat and US$ slightly lower.  Post Opex week can lead to a wider trading range. FOMC speakers at 11:05 ET and debt ceiling random headlines are the primary market movers.  Semi, AAPL, META weakness will likely lead to TSLA, AMZN and GOOGL being used to support the Nasdaq. SPY key level 417.4

·         Stocks to watch   BABA, DKNG, TSLA, AMD, PANW, MU, AAPL, NKE     Spec Names  AI 

Pre-800ET
Earnings GLBE, ZIM

Indices KWEB, EEM, KRE, ICLN, IWM, XLY, XLU, SOXX, SMH, XLK, /btc, USO, SPLV

S&P500 MU, CTLT, NKE, META, AMD

IWM RVLV, FL

WSB BABA, AMD, UPST, RIOT

Movers DKNG, PDD, BILI, BEKE, LI, JD, BABA, BIDU, FUTU, ZIM, GLBE, MU, CTLT, FL, NKE, RIO, META, AMD, AAPL, QCOM

Trade Idea: DKNG

In my opinion, DKNG is a potential long idea today on an upgrade by UBS. High call open interest at 24.5 and 25. Long idea > 25 or look for dip > 24.5