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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 global set-up

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

·         Yields: 30Y Bond +.34% Currencies: USA$ +.16% Vix: -2.5%

·         News: USA: PCE 8:30 ET UofM 10:00 ET
Stocks: MSFT+4%, GOOGL+12%, CL+2%, CNC+2%, SNAP+25%, RMD+11%, INTC-8%, XOM-1.2%, EPS
Overview: USA SPY 507 with support at 505 and 500, and resistance at 507 and 510; SPY expected move +/- 3.4. QQQ 428 with resistance at 430 and 432, and support at 422, 420, 415; QQQ expected move +/-6.4. USA indices are higher led by Nasi with GOOGL and MSFT leading. GOOGL has made a 3 standard deviation move with a beat and a $70B stock buyback. PCE was inline but personal spending is above expectations which is a negative. SPY and QQQ are above the weekly expected move and daily expected move, hence statistically extended. Macro factors are mixed with yields lower but US$ higher. Risk today is the large move in GOOGL, MSFT can suck the capital from other stocks. UofM data at 10:00 ET is market moving with inflation expectations moving yields and hence equity.  SPX 5100-5000 is range from option positioning, pay attention at 5100 which can serve as resistance or breakout above. Today’s daily expected move levels: SPY (507-500), QQQ (431-418), IWM (199-194), and SPX(5082-5014). 

Stocks to watch GOOGL, MSFT, AMZN, ENPH, NVDA, RMD, XOM

Pre-800ET
Earnings MSFT, GOOGL, TMUS, INTC, NOC, LHX, DXCM, COF, TEAM, AEM, WDC, SNAP, XOM, CVX, ABBV, HCA, CL, CNC, CHTR
Indices KWEB, FXI, VIX, QQQ, COPX, XLK, SPY, SLV, GLD, YEN, BITO, XLF
S&P500 GOOGL, MSFT, AMZN, SMCI, ENPH, NVDA, AMD, DOW, WDC, UBER, INTC, PSX, CHTR, XOM, PARA
Movers SNAP, SLCA, LI, MNSO, EDU, BILI, JD, CFLT, DDOG, TAL, PINS, AU, FUTU, SNOW, ZIM, PDD, AEM, BYD, TEAM, ROKU, SNY

Trade Idea: KWEB

KWEB previous idea is up strongly premarket. Likely needs to pullback but now approaching a weekly breakout. Top performing names premarket: MNSO, PDD, EDU, and TAL. Risky sector but major laggard that may be getting some life.