Iran-Israel tensions are easing. The Strait of Hormuz is reopening after a deal to end the conflict. Oil markets have shifted focus from shortage fears to looming supply gluts. That headline dominated financial media overnight and is setting the tone for Thursday's trading.
Wall Street finished mixed. The S&P 500 and Nasdaq closed lower as a chip-stock rebound faded. European stocks slid but defense names rallied. South Korean tech shares fell more than 5% as AI-linked names came under pressure globally.
On regulation, Wall Street banks are pushing US regulators to ease Basel capital rules further — pressing for gains even after their biggest lobbying win since the financial crisis.
Micron Technology is the marquee name of the week. It reports Q3 results on June 24. Options are clustering around the June 25–26 window. SI sits at just 3.3% of free float. This is a pure earnings-volatility trade. FedEx, Carnival, and KB Home all report Monday, offering a broad economic read.
Bears are piling into Wolfspeed. SI % FF hit 101% with cost to borrow at 7.8%. Avis Budget jumped nearly 8 points to 48.1%. On the flip side, Accenture took a double hit — a consensus downgrade cut its average analyst target by 8.6% to $208. Datadog got a $50 target hike from Scotiabank to $275.
Applied Materials CEO Gary Dickerson sold ~$36M in stock this week. The company's independent chairman sold another $5.6M. Countering the sell-side trend, Summit Therapeutics CEO Robert Duggan bought $50M of shares on June 12 — 3.81 million shares at $13.12 each.
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.
