Earnings Season Heats Up, Oil Spikes, Europe on Watch

The Big Event: Alphabet Reports Wednesday

The most-watched event this week is GOOGL's Q2 results. Markets want answers on AI spending — and whether costs are coming down. Analysts are watching for clues on how the $1.7 trillion company is rationalising infrastructure. INTC follows on Thursday, with investors seeking clarity on its foundry turnaround. Both prints could set the tone for tech into August.

Oil and Macro Volatility

Crude touched $90 after Iran struck tankers in the Middle East. Energy names moved sharply. Options data showed limited short positioning in names like OXY, meaning put buyers may have been caught off guard. The CLARITY Act for crypto is also nearing a Senate vote, lifting crypto-linked stocks.

Analyst Moves: Gilead Cut, Banks Lifted

Leerink Partners downgraded GILD to Market Perform today, cutting the price target to $127. Meanwhile, DA Davidson raised its target on ZION to $84. MMM drew a downgrade earlier in the week — it now carries nine sell ratings versus just two buys.

Europe: thyssenkrupp nucera Flashes Red

NCH2 — thyssenkrupp nucera — is in sharp focus in Europe. Borrowing costs hit 61.8% APR today, up 148% in a single week. Utilisation sits at 99.5%, near a 52-week peak. Availability has collapsed to just 1.3% of short interest. That is a textbook short squeeze setup. Traders in Frankfurt are watching closely.

Insiders and Short Sellers

Swedish investment giant Lundbergföretagen bought $35M in SAND and $43M in SHB A last week — a confident move from a major shareholder. In the US, Bessemer Venture Partners filed $117M in TTAN sales over the past month as the stock ran higher post-IPO.