.

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 – Slight negative equity global set-up

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

·         Yields: Yields are lower Currencies:  USA -.19% 

·         News:  USA: FOMC 14:00 ET; New home sales at 10:00 ET

·         Stocks: Earnings:  GOOGL 6.4%, BA+3.6%, KO +1.2%, CB 2.2%, UNP 8.4%,  MSFT -3.5%, TMO -4.5%, TXN -4.75%, V -0.8%, SNAP -17% Banks: PACW and BANC merging and equity raise, lifting KRE; WFC  +2.6% $30B buyback

·          General: Leading: KRE, GLD, euro, XLF, GDX, VXX, IYZ  Lagging: faangmt, USO, SOXX, SMH, XLY, XLE, QQQ

·         Overview: USA SPY 454.6 displays support of 452, 450, 448, 445, and 440 with resistance at 455. SPY expected move +/- 2.7. QQQ 377.3 with resistance at 380, 385, 390 and displays support of 375, 370. QQQ expected move +/- 3.7.  Slight risk-off morning ahead of FOMC meeting with weakness in global equity markets but USA outperforming with smallcaps outperforming and Nasi underperforming. Yields and US$ slightly lower is moderately positive. MSFT slowing Azure growth is weighing on the stock and spilling over to AMZN. GOOGL ad revenue is boosting the stock to resistance/break out levels and lifting META. TXN weak forecast weighing on semis except NVDA which remains boosted by AI.  Bank merger and WFC buyback making financials the leading sector. TMO may weigh on healthcare equipment sector and RHI weakness indicates reduced demand for temporary workers. Implied volatility is elevated into FOMC with potential for bounce post meeting if Powell doesnt surprise but caveat is market is not positioned for a surprise. SPY 352 QQQ 375 are key levels

·         Stocks to watch  GOOGL, META, BA, WFC, UNP, T, MSFT, AMZN, TXN, TMO  Spec Names  SIMO

Pre-800ET
Earnings CB, CNI, CSGP, EQT, MSFT, RHI, SNAP, TXN, V, WM, EDU, TMO, UNP, GOOGL, ADP, ALKS, BA, BTI, T, STLA  

Indices  KRE, GLD, euro, XLF, GDX, VXX, IYZ, faangmt, USO, SOXX, SMH, XLY, XLE, QQQ

S&P500 GOOGL, BA, WFC, KEY, CB, META, ZION, T, CMA, KO, USB, ADP, RHI, TMO, WM, TXN, MSFT, A, UHS, AMZN, WAT, MTD, EQT, DHR, MCHP, FCX  

IWM MARA, IONQ, ENVX, MXL, AI

WSB BA, NIO, WEN, AI, AMZN, PLUG

Movers SIMO, TSEM, TDOC, WAL, GOOGL, BA, WFC, META, SPR, STLA, VMW, T, GSK, KO, XPEV, ENVX, MXL, SNAP, TMO, TXN, MSFT, EDU, WEN, SNOW, RIO, AI, TTE, AMZN

Trade Idea: KWEB

META reports after the close today. Moving in premarket after GOOGL positive ad revenue. In my opinion, MSFT and semi weakness today can lead to money flowing into META to support index. Expected move for the week is +/-26. 300 is a level to lean against today. Currently 301 in premarket, resistance 305 and 310.