.

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 – slight positive global set-up

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

·         Yields: 30Y Bond -.14%  Currencies:  USA$ +.46% CAD -.48% YEN-.47%  BTC/USD -.13%  Vix: 16.6

·         News:  USA: PCE  830ET; Trump repeating the tariff threat to Canada and Mexico and added a threat to BRICs  CAD: GDP 830ET

·         Stocks:  CL-2.9%, PSX-1.9%, CVX-1.4%, CHD-1%,  AAPL+4.2%, INTC+1.6%, V+1.7%, ABBV+4.2%, NVS+2.1%, XOM+0.4%, TEAM+19%  EPS  

·         Overview: SPY 608  Resistance 608 609 610  Support 605 603 600;  QQQ 527 Resistance 528.5 530 Support 525 522 520. Prior to USA PCE the US$ is higher relative to the globe on more tariff sabre rattling which in theory should be negative for equities.  US$ and yields will move with PCE print.  QQQ is leading USA indices on the back of AAPL. AAPL is guiding Q2 growth of low to mid single digit and 4% y/y revenue growth. MAG7 are generally higher ex NVDA and TSLA. NVDA is pressured as USA govt discussing further restrictions on shipping devices to China and tightening restrictions to countries like Singapore. NVDA (and semis in general) revenue from ex-USA is significant and the goal of the USA to attempt to slow China can significantly damage the semi industry.  INTC is higher on less bad results which can help support semis even with NVDA weakness. TEAM large move higher can provide a lift to cloud software companies. SPX is at 6100 premarket and above potential for blow-off top as out of the money calls become activated. Premarket there are signs of speculative, non-index stocks being bid in the Space (ASTS, LUNAR) Nuclear(NNE) AI(NBIS SOUN) and biotech (ARKG) sectors. This type of speculation can signal either entry to a blow-off top or the end of bull-run as hedge funds close shorts. Blow-off top signal would be equity and Vix rising together.

Expected Move  SPX (6114-6028), SPY (609.4-600.7), QQQ (528.5-517.6), IWM (231.1-225.9)

Stocks to watch TSLA META IBM AVGO ANET MSFT UPS NOW CI  Speculative   NBIS RGTI
Pre-800ET
Indices  ETHE IGV XLK QQQ ARKK SLV SPY SMH IWM XBI  UNG KWEB IBIT

S&P500 ABBV AAPL BKR INTC ANET AVGO MSFT DECK WBA CVX NVDA OXY OKE MU
Other  TEAM ASTS TEM IREN NNE NBIS VRT HOOD SOUN LUNR RIOT STM AGNC BABA BE

Trade Idea: TEM

Tempus AI is a healthcare tech company that uses AI and machine learning to healthcare. Very speculative company and hence risky but can benefit if market is in casino mode. Short interest is 22% which can lead to large moves. Large call positions at 60, 65, 70. Premarket is just above 60 so potential for squeeze higher.  One can also look for pullbacks with 50 being a decent support level.