Oil is the session's biggest story. Options markets flooded with energy bets as traders position around an Iran-crisis-driven supply shock. CVX and XOM are in focus. OXY also drew heavy options flow. FT headlines confirm the shift in mood: fears of a $200 oil spike are fading as supply disruptions ease, with the Strait of Hormuz reopening after Iran ceasefire diplomacy. A glut narrative is now replacing the shortage narrative. DAL added to the positive tone, raising its quarterly dividend from $0.1875 to $0.2150 per share — a signal that fuel cost relief is feeding through to airlines.
META struck new AI computing deals with data centre firm Crusoe, according to Bloomberg. That continues the hyperscaler buildout theme. Trump's confirmation this week that AAPL will co-produce chips with kept semiconductor options active. earnings loom Tuesday — traders are extending positions into late September. Analysts lifted targets on by 22% to $275 this week, reflecting ongoing confidence in cloud infrastructure spend.
Short sellers targeted AI and chip names hard. SHAZ saw its short interest jump 38 points to 50.7% of free float in a week. WOLF remains above 100% SI with zero shares left to borrow. Meanwhile, insider signals are mixed. Six AMAT executives sold over $80M in shares on June 17. In contrast, SMMT's CEO bought $50M worth of stock — a rare show of confidence from the top.
FDX, CCL, and MU all report this week. Micron's numbers carry the most weight for AI sentiment. European equities saw a defence sector rally after Ukraine ratified a $105B EU loan deal.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
