US military strikes against Iran cracked the ceasefire today. Oil prices bounced sharply in response. XOM and CVX were among the biggest market beneficiaries. Options flow turned heavily call-skewed in energy names. OXY, COP, and DAL all drew heavy options attention. Airlines face the other side of the trade. Rising fuel costs hit margins directly. DAL reports Q2 earnings on Friday — the timing could not be trickier.
Q2 2026 earnings season kicked off today. PEP posted results this morning. reports after the bell. Delta's Friday call is the week's most watched event. Next week accelerates fast — reports July 14 before the open, followed by on July 15. Bank earnings will set the tone for the broader financial sector.
Short interest remains extreme in CHWY at 75.3% of free float. CRWV CoreWeave and SOC Sable Offshore also saw sharp increases this week. On the analyst front, Citi upgraded targets on URI and BKR. One analyst flagged NVDA as trading at "compelling value" relative to peers — cheaper than AAPL, META, and MSFT on forward earnings multiples.
The Bolloré family continued buying aggressively in French conglomerate BOL, filing over $85M in purchases. European earnings are also building — AZA Avanza Bank reports July 14 alongside major US names.
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