Big Tech Earnings Week Opens as Oil Tops $100

Markets are laser-focused on what may be the biggest earnings week of 2026. Apple, Amazon, Microsoft, Starbucks, and Qualcomm all report before Friday. Apple alone carries nearly a $4.9 trillion market cap. Together with Amazon, these two names represent over $7 trillion reporting on a single Thursday afternoon.

Oil Tops $100, Bonds Slide

Brent crude broke back above $100 per barrel. President Trump commented on Iran today, saying talks are ongoing and there is "a good chance something will happen." That uncertainty is keeping energy markets on edge. The oil spike is rippling into bonds — FT Markets reports a global bond sell-off as inflation expectations reset. Trump also renewed pressure on the Fed today, calling for the world's lowest interest rates and labelling board members "political."

Short Sellers Lock On

Hertz SI utilization just hit 100% — every borrowable share is now lent out. Short interest stands at 32.6% of float. This mirrors the broader article theme: Hertz, Chewy, and Wolfspeed are all deep in bearish territory. Separately, BYD short interest surged 22% in a single session on July 24 — the sharpest single-day jump on record for the name.

AI Deals Keep Flowing

NVIDIA features in another major AI deal. Axe Compute secured a $1.5 billion contract powered by Nvidia chips. Meta is raising $12 billion for data centre financing, though at higher borrowing costs. Strategy raised $544 million but skipped Bitcoin purchases for a fifth straight week.

Europe: Hong Kong Listings Ease

Hong Kong Exchanges relaxed listing rules today in a bid to attract more global companies. The bourse is increasingly dominated by Chinese firms. That regulatory shift could redirect some capital flows toward Asian listings over the coming months.