.

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

Market Setup- Pre-730ET 

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

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

·         Yields: Yields are higher Currencies:  USA +.12% 

·         News:  USA: UofM Consumer Sentiment 10ET  

·         Stocks  UNH+3.0% EPS less bad, with drive DIA   JPM +2.8% FRC lifted EPS  WFC +4%  EPS; ERIC -10.6%, NOK -8.7% Earnings and warnings  T-1%   downgrade ACAD +13% drug rights and guidance 

·          General: Leading: KRE, faangmt, XLF, XLV, DIA, XBI, JETS, SMH Lagging: /btc, KWEB, USO, XLE, ICLN

·         Overview: USA SPY 450.3 displays support of 450, 445, and 440 with resistance at 455. SPY expected move +/- 2. QQQ 379.6 with resistance at  380 and displays support of 375, 370, and 365. QQQ expected move +/- 2.5.  Large cap USA equities are stretched at resistance with pullback more statistically likely however blow-off top possible as long as call buyers continue. Pullback or blow-off top more likely later in afternoon as call options expire. Financials are the leaders after less bad earnings but UNH will lead the DIA due to price weighting. MSFT upgrade, NVDA just because and NFLX due to screen writer strike (less cost) are the top UberTechs. ERIC, NOK and T down grade weighing on telecom names like CSCO.

·         Stocks to watch  UNH, JPM, WFC, NFLX, MSFT, PDD,   
Spec Names  AEHR, OSTK, PLUG

Pre-800ET
Earnings AEHR, C, JPM, STT, UNH, WFC

Indices KRE, faangmt, XLF, XLV, DIA, XBI, JETS, SMH, /btc, KWEB, USO, XLE, ICLN

S&P500 WFC, UNH, KEY, JPM, HUM, C, ELV, MSFT, C, LVS, USB, NVDA, ATVI, MS, HBAN, SCHW, STT, GLW, CSCO, T, MRNA

IWM ACAD, OSTK, SMCI, BYND, TGTX, ENVX

WSB PLUG, NVDA, COIN, BABA

Movers ACAD, ELAN, ROIV, PLUG, AEHR, PRGO, WFC, UNH, JPM, HUM, OSTK, GFI, LVS, U, BILI, JD, AA, PDD, GDS, CVNA, FUTU, BABA, GLW, T 

Trade Idea: WFC

WFC is the top performing of the big banks post earnings. In my opinion, premarket high 45.75 can be used for a momentum long or pullback >=45. Large call positions 46 and above