The biggest macro story overnight is a renewed Strait of Hormuz disruption. ExxonMobil and Occidental Petroleum spiked after hours on the news. The move comes as US airline fuel bills already topped $6bn in May. Energy markets will be front of mind when US markets open.
Insider selling is loud this week. Applied Materials CEO Gary Dickerson filed sales of over $50M in shares through June 29–30. Five AMAT executives combined to sell more than $142M last month. Separately, four Dell Technologies insiders unloaded nearly $592M in stock. Broad-based C-suite selling across two major tech names on the same week is a notable pattern.
Short sellers have Chewy firmly in their sights. Short interest sits at 72.4% of free float — up 3.3 points in a week — ahead of Q1 results. is also under pressure, with SI at 31.5%. Options sentiment confirms the bearish tilt in both names.
Today's session brings Levi Strauss and PepsiCo results. Delta Air Lines follows Thursday. The big moment arrives Monday, July 14, when Wells Fargo and Bank of America both report Q2 numbers. Swedish telecom Ericsson also posts Q2 results Monday — giving investors an early read on European tech capex trends.
Generac earned an upgrade to Buy today on grid reliability demand. Pharma saw mixed moves: Eli Lilly got a small target bump, while Regeneron was trimmed amid heavy sell-side skepticism.
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.
