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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

** ‘Y’ – year

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: 30Y Bond +.05% Currencies: USA -.26% 

·         News: USA: UE claims 8:30 ET; MFG & Services PMI 9:45 ET EUR: MFG PMI 46- Services PMI 50+ CPI 3.3% y/y CDN: Retail sales 8:30 ET
Stocks: RIVN -15%, RUN -5%, GFI -11%, ETSY -5%, NVDA +13%, (AMD +5%, ARM +6%, SMCI +12%), RELY +21%, DOCN +7%, ACVA +12%, MOS +4%, eps
Overview: USA SPY 503.7 with support at 500 and 497, and resistance at 505; SPY expected move +/- 4.4.  QQQ 434.5 with resistance at 435 and support at 432 and 430; QQQ expected move +/- 6.85.  Global equity is higher post NVDA earnings with USA large caps led by large cap tech stocks.  SPY and QQQ are above daily expected moves but within weekly so potential for further upside with caveat that short term stretched.  Semis, AI, software, and tech of all sorts are bid premarket and in theory can squeeze further but keep an eye open for profit taking.  USA PMI data at 9:45 ET may be market moving.  Breaches of daily expected moves can lead to larger moves.  Today’s daily expected move levels: SPY (501.7-492.8), QQQ (432.5-418.8), IWM (200.8-195) and SPX (5013-4950). 

Stocks to watch NVDA, AMZN, META, ZS, CCL, NEM  

Spec Names RELY, SMCI 

Pre-800ET
Earnings  
Indices SMH, SOXX, ARKK, XLK, IGV, ARKF, QQQ, KWEB, HACK, FDN, BLOK, EEM, VXX, UUP, USO

S&P500 NVDA, AMD, CCL, MOS, MRNA, AVGO, NCLH, AMAT, MU, INTC, PANW, UBER, META, ADBE, MSFT, QCOM, ENPH, GOOGL, LLY, NFLX, ETSY
Movers RELY, NVDA, SMCI, TS, ERF, WEX, ARM, TCOM, W, PLTR, AMD, MRVL, CUK, RXRX, AI, LI, GCT, VRT, PATH, MRNA, ZS, CRWD, DELL, RIVN, GFI, FIVN, RUN, AZN, PAAS, TRMD, NOVA, NEM

Trade Idea: NVDA

NVDA has moved above the expected move. Extended but pulling back in premarket. Pullbacks > 745 are likely buyable. Below 740 is a warning that the pop will not hold.