Quarter-End in Focus: Earnings, Bears, and a Retail Sales Beat

US Market Snapshot

Today marks the final session of Q2 2026. Markets close the quarter with a flurry of earnings. NKE and GIS both report after the close today. STZ also posts Q1 2027 results this afternoon. Options traders have compressed risk into tight near-term expiries on all three names — a sign they want fast resolution.

Macro data gave bulls something to work with. The Redbook Retail Sales Index hit 9.7% year-on-year for June. The weekly reading through June 27 showed 10.5% growth. Consumer spending is holding up better than feared.

Goldman Sachs moved on STT today, raising its price target to $194 while maintaining a Buy rating. That's a fresh vote of confidence for the custody bank.

Shorts and Stress

Short sellers stayed aggressive into quarter-end. WBI saw short interest explode to 85.2% of free float, up 53 points in a week. WOLF remains extreme at 129.9% with near-zero availability. LCID borrow costs hit 125.6% APR — a punishing rate for any short holder.

Honeywell HON saw a dramatic analyst revision today. A consensus target collapsed from $486 to $229 after one firm dropped coverage entirely. That likely reflects the industrial giant's ongoing three-way breakup.

Insiders and Europe

On the insider front, Best Buy founder Richard Schulze filed a $32.7M sale. That's the largest single-name disposal in this week's US batch. Across the Atlantic, FT Markets flagged a sharp rotation out of mega-cap tech. The Magnificent Seven shed $2.3 trillion in a Wall Street shift toward chipmakers benefiting from AI infrastructure spending. The yen also weakened to a 40-year low past ¥162, adding fresh pressure to global currency markets.