.

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, natgas, Softs, Industrial Metals 

·         Yields: Yields lower Currencies:  USA +.11% 

·         News:  USA UE claims 830ET EUR GDP 0.1% q/q  China: Stimulus, lower trade y/y; iPhone ban for govt workers
Stocks: Positive Earnings AEO +0.3%% Negative Earnings AI -12% DOO -9.7% PLAY 04%  Movers AAPL -3% China govt ban. Note weighs on semi suppliers. Huawei latest phone very competitive with iPhone TSLA -2.4% NVDA -2%
Overview: USA SPY 444.3  support 444 440  and resistance   450 455 . SPY expected move +/- 1.8  QQQ 371 with resistance   375  and support  370 365 . QQQ expected move +/- 2.6.  Story of the day is the weakness in AAPL due to the Chinese govt ban. This will weigh on the market cap weighted indices. Semiconductors are weak, especially ones in the AAPL supply chain: QCOM, SWKS, QRVO, CRUS. News of a TSLA smaller ban is weighing on the stock. Macro set-up is negative  with US$ higher but yields lower and global equities lower.  Indices are negative gamma hence selling will lead to selling. Bond auction today is yet another risk as USA treasury selling notes and bonds for the first time since the market fell so watch yields today. Commodities are reflecting a slowing global economy following China data. Potential some rotation into utilities, healthcare.  SPX line in the sand 4450 with 4400 potential support if it breaks.

·         Stocks to watch  TLT, WRK, AAPL, TSLA, NVDA, SWKS, QRVO  

·         Spec Names PATH, AI

Pre-8:00ET
Earnings PATH, ANCTF, DSGX, AI, AEO, PLAY, TTC, DOO, SAIC, ABM, GIII, GME

Indices  VXX, GLD, TLT, UUP, XLU, XLV, KWEB, SOXX, SMH, XLK, faangmt, LIT, QQQ 

S&P500 WRK, ROL, STX, SWKS, AAPL, NVDA, TSLA, MCHP, SPG, ON, QCOM, AMAT, AMD, QRVO, FCX

IWM FRO, TPH, AMKR, AI, LZ, SUM, PLAY, SMCI, TROX, CROX, IONQ, NEOG

WSB AI, BROS, NET, BABA, NVDA, RIVN, NIO, TSLA, PLTR, AMD, AFRM, CLF

Movers CBAY, WRK, PATH, AEO, AMKR, AI, ROL, BHP, SUM, BILI, STM, PDD, STX, PLAY

Trade Idea: AAPL

AAPL is down 3% in premarket following news of a ban for govt workers. AAPL has some support at 177.5 with stronger support at 170 and resistance at 180. Can consider a fade < 177.5 or on failed bounces < 180. Note semi fade is an alternate idea using AAPL as a reference.