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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

Color Key: Positive – Neutral – Negative

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

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

·         Yields: Yields are lower

·         Currencies:  US $ -.28%

·         News:  USA: UE claims 261k vs 236k expected; Canada: Increased rates 25bps  Japan: GDP .7% q/q Discussion of BOJ ETF holdings transferred at book value hit Nikkei yesterday and may have spilled over to USA 

·         Stocks ADBE +1.8% generative AI product launch, target raise, earnings next week; IGT +5% Exploring strategic alternatives for global gaming; FAANGMT muted with many at bottom of expected moves for week. AMZN, NVDA relative outperformer and META laggard. Many earnings names are outside expected moves with potential to run in same direction.

·         General: Leading: Gold miners, EFA, oil, China Internet, euro  Lagging: US$ bitcoin, ARK

·         Overview: Neutral setup with USA equities mixed, yields higher and US$ lower.  USA SPY 427.2 displays support of 426, 425, and 420 with resistance at 430. SPY expected move +/- 1.6. QQQ 349.5 with resistance 350 and displays support of 346, and 340 . QQQ expected move +/- 2.0.  Expecting bounce from oversold with UE report higher however QQQ is still at risk with very little support below current levels until 340.

·         Stocks to watch  ADBE, AMZN, SMTC, IGT, AAPL, TSLA  

Spec Names  TCOM, NNOX, GME, HCP

Pre-800ET
Earnings SMTC, TCOM, DBI, CTLT, SMAR, GME, HCP

Indices USO, EFA, VXX, GLD, ICLN, XLE, DBC, euro, GDX, IWM, XLU, UUP, /btc, ARKK, ARKQ, ARKF, EWZ, faangmt

S&P500 ADBE, AMZN, GEHC, ETSY, CCL

IWM SMTC, FRO, ING, S, SIG 

WSB AMZN, COIN, GME

Movers SMTC, TCOM, STLA, MT, FRO, ADBE, ING, STM, S, PHG, BHP, AMZN, HCP, GME, SMAR, SIG, EURN, GEHC, COIN, CUK, GFI, PATH, CCL, RBLX

Trade Idea: IGT

IGT is in play with plan to potentially sell off a business unit. High Jul 31 call OI may be a target. Premarket high 29.8, may be used for a momentum breakout or look for pullback >= 28.5.