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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 – Neutral global set-up

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

·       Yields: 30Y Bond +0.44% Currencies: USA$ -.08%, CAD -0.01%, YEN+.4%, BTC/USD -2.5%, Vix: 16.85

·       News: USA: PPI 830ET; 30y Bond auction 13ET UK: GDP m/m +0.4% vs 0.1% JP: PPI y/y 4.2% vs 4%
Stocks: DDOG-8%, RDDT-10%, BCS-4.8%, DE-5%, TTD-29%, FSLY-22%, APP+27%, CSCO+6%, ZTS-6%, HOOD+12%, MGM+9.5%, TAP+6%, GEHC+2.4% EPS  

·       Overview: SPY 602.5 Expected move 3.7 Resistance 604 05 608.5   Support 600 598; QQQ 529.3 Expected move 4.4 Resistance 530 533 Support 528 527 525. Econ: USA PPI y-y 3.5% vs 3.3% USA initial claims 213k vs 215.5k which reinforces the CPI data that inflation is not decreasing and with employment strong, there is less logic for the FED to cut rates. Reaction is counterintuitive with USA indices and bonds higher and US$ lower. Potentially due to a higher PPI already priced in or positioning with puts and hedges unwinding akin to the action Wed when the market rebounded. This is another case of flows vs macro and flows winning but note that put covering flows are a shot of adrenalin and can be transitory. MAG7 are positive ex-AAPL with TSLA now the hedgefund shiny toy and already above the daily expected move and likely targeting at least 350 and potentially higher as the hedgies take aim at the bears who are shorting due to weakening fundamentals. IWM is outperforming large caps as long bonds bounce and shorts cover. China is taking a breather after some recent pops however BIDU is strong and maybe BABA is passing the baton. Oil lower and Europe higher on news that the USA is talking to Russia about ending the war which has been keeping a foot on the European economy and supporting oil. SPX 6100-6000 is the range with a break of 6000 leading to a large downdraft. The potential tape bomb today is the promise/threat or reciprocal tariffs at some time today so tread softly if intraday trading. Some big moves on earnings can potentially provide day trade opportunities.
 
Expected Move SPX (6089-6015) SPY (607-600) QQQ (533-524) IWM (225.8-221.4)

Stocks to watch TSLA, AMD, CSCO, BIDU, APP, DE, FSLY, DDOG    Speculative BROS, HOOD, RDDT
Pre-800ET
Indices UNG, TLT, IGV, GLD, XLY, ARKF, IWM, ARKG, KRE, EFA, FXI, IBIT, USO, KWEB, ETHE, MSOS, SMH, UUP

S&P500 MGM, TAP, CSCO, WYNN, TPR, TSLA, SW, ALB, LVS, ANET, VST, ZTS, DE, SMCI, KHC, DELL
Other APP, BROS, SOC, CROX, HOOD, ZETA, BIDU, TEM, HIMS, U, NBIS, SOUN, RKLB, TTD, FSLY, DDOG, TXG, RDDT, BTI, UL, FUTU

Trade Idea: ADBE

ADBE is a laggard large cap tech company that has suffered from lacking a good AI story and concern could lose out to other companies. Today announced an AI product and technically starting to recover. Call wall 480 is an upside target with 500 the target above. Earnings Mar12 so may see a move into the event with caveat that QQQ continues to hold up.