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Date: Oct 2, 2023 

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

** ‘d’ – day

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: Yields higher Currencies:  USA +0.39%

·         News:  USA: ISM, MFG, PMI, 10:00 ET; Powell 11:00 ET Europe: MFG, PMI 43.4 met; UK, MFG, PMI 44.3 China: Caixin PMI > 50 but below expectations JPN: Tankan sentiment data better than expected

·         Stocks:  DFS +2.9%, RIVN +2.9%; Upgrade NVDA +1.2% leading FAANGMT, TSLA Production data today, TLT -1%, GLD -.54% as yields and US$ rise

·         Overview: USA SPY 426.7 with support at 425 and 420, and resistance at 430 and 432.  SPY expected move +/- 3.5, QQQ 358.26 with resistance at 360 and 362, and support at 355 and 350.  QQQ expected move +/- 3.92.  Global equity markets are weakening premarket with relative outperformance by FAANGMT.  USA govt shutdown averted for 45d with response of a sharp increase in both yields and US$ which is again pressuring equities and commodities ex-crude which is higher and hence inflationary.  Today’s daily expected move levels: SPY (423.98-430.98), QQQ (354.35-362.19).  USA PMI data at 10:00 ET may be market moving.  Bitcoin surge is lifting ARKK and COIN, MSTR. China EV deliveries lifting the space. Watch TSLA today with deliveries on tap

Stocks to watch NVDA, COIN, DDOG, ZS, FDX, TLT     

Spec Names RIOT, ARM, SPHR

Pre-800ET
Earnings 

Indices /btc, BLOK, MSOS, USO, ARKK, UUP, XLE, SOXX, KWEB, TLT, GDX, HYG, euro, EFA, AGG, XLB, XLU

S&P500 DFS, ULTA, CLX, DHR, K, SEDG

IWM ARR, MSTR, APLS, NOVA, SMCI, SNDX, BFH, FRO

WSB MSTR, COIN, RIVN, NVDA

Movers SPHR, COIN, RIVN, DFS, DDOG, SMCI, X, NVDA, SNDX, EURN, GFI, AU, TOST, SEDG, FRO, CCL

Trade Idea: TSLA

TSLA vehicle deliveries will be released today and will be a catalyst to move the stock. Premarket 250.13 is a pivot level. Positive reaction targets 252.5, 255 and 257.5, and negative reaction targets 247.5 and 240.  A break below 240 can lead to a larger downdraft.  Premarket non-TSLA EVs have been strong.