Short pressure is building across a range of names. Chewy now has short interest at 72.4% of free float — one of the most extreme readings in large-cap US markets. CoreWeave sits at 31.5% of FF, with availability still high at 222%, meaning bears can keep adding. The real standout is Honeywell. Its SI jumped from 3.8% to 6.5% in a single week. A 2.7-point move in a Dow-constituent blue chip is rare. Bears appear to be betting the company's breakup disappoints.
Today's calendar is light but notable. Levi Strauss and PepsiCo both report Q2 results. Thursday brings Delta Air Lines — fuel costs are front of mind after data showed US airlines spent over $6 billion on fuel in May, up 84% year-on-year. The real weight arrives Monday when and both report Q2 results before the open, officially starting US bank earnings season.
SpaceX is drawing bullish early calls from Wall Street. Morgan Stanley set a $300 price target as the quiet period ended following the company's record IPO. The IPO is dominating financial media and pulling attention toward the broader space and AI infrastructure theme.
European stocks have been volatile. Defence names rallied after Ukraine ratified a €105 billion EU loan deal. The Bank of England signalled plans to ease capital rules for UK lenders. HSBC made headlines by pulling back from riskier private credit, telling some clients it will not renew facilities. Analyst upgrades in the payments space also lifted sentiment, with Robinhood seeing its consensus target rise to $110.52.
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.
