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Color Key: Positive – Neutral – Negative

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

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

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

·         Yields: Yields are lower

·         Currencies:  US $+.57%

·         News:  USA: PMI at 9:45 ET  EUR: MFG PMI 43.6 Services PMI 52.4 below expectations Japan: MFG PMI 49.8 miss

·         Stocks  KMX  +6% EPS beat lower exp.  AMZN -.23% Top FAANGMT AFRM  +1.0% Upgrade W +1.7% Upgrade
GSK +4.5%  Zantac resolution IONQ +8.7% Increase forecast  

·         General: Leading: VXX, UUP, GLD Lagging: EFA China_Internet Emerging_Markets Oil

·         Overview: USA SPY 434.2 displays support of 433, and 430 and resistance at 435, and 445. SPY expected move +/- 1.8. QQQ 363.6 with resistance 365 370 and displays support of 360. QQQ expected move +/- 2.4.  Classic risk-off set up with US$ stronger and yields lower. Catalysts are weak European and Japanese PMIs which raise the recession spectre. USA PMI at 945ET will be of greater importance as may reinforce the narrative. Key levels SPY 433 QQQ 360. Watch US$ as the key indicator, reversal of the uptrend will be a signal that markets may reverse. Russell2000 is the weakest index and may lead in either direction

·         Stocks to watch  KMX, GSK, AMZN, AMD, IWM, SBUX   Spec Names  IONQ, DNUT, PLTR

Pre-800ET
Earnings KMX 

Indices VXX, UUP, GLD, EFA, KWEB, EEM, DBC, USO, ARKK, SMH, KRE, QQQ

S&P500 KMX, MMM, VTR, VTRS, GE, FCX, SBUX, ENPH, ACN, AAL, LUV, ON, DAL, MRNA, AMAT, MRO 

IWM DNUT, OSTK, CELH, FRO, NE, CPE, TWO 

WSB BA, TSLA, PLTR, UPST, AI, NVDA, AFRM

Movers GSK, KMX, MMM, DNUT, W, OSTK, XPEV, FRO, STM, VTRS, EQNR, JD, GE, LI, PDD, DB, MT, PLTR, SHOP, TSM

Trade Idea: TSLA

TSLA options traders are positioned long into today’s expiration which is a risk if the stock cannot move higher early in trading. Below 260 targets are 257.5, 255, 250. Above 263, targets are 265 and 270. Expected move for the day is +/- 5.8