Mega-Cap Earnings, Fed Day, and a Robot Ban

The Big Picture

The heaviest earnings week of 2026 collides with a Federal Reserve decision today. Microsoft and Meta both report after the close tonight. Apple and Amazon follow tomorrow. All four names carry significant short-side options pressure. Traders have been hedging hard into the prints.

Tech Under the Microscope

NVIDIA sits at an RSI of 42. Options bears are piling on despite the stock sitting just 5% lower year-to-date. Tesla is in worse shape — RSI of 27, down 31% in 2026, with heavy put activity still building. Wedbush today raised its target on Seagate Technology to $1,000, a rare bullish outlier in an otherwise cautious chip environment. SK Hynix earnings disappointed overnight, adding to sector jitters.

Regulation Hits the Tape

Two regulatory stories broke this afternoon. The FTC is suing Hims & Hers Health for allegedly sharing user health data with Meta and Snap. The lawsuit lands hours before Meta's earnings call — adding an unwanted headline to an already scrutinised report. Separately, Trump signed a ban on Chinese humanoid robots, a move that rattles supply chain assumptions across robotics and EV names.

Short Sellers and Insiders

Bears have pushed Hertz short interest to 84% of free float with zero shares left to borrow. Squeeze pressure is real. Meanwhile, a 10% owner at Safety Insurance Group filed a $131M share sale — the largest insider exit of the week — executed as the stock hit multi-year highs.

Europe

Logitech saw its Wedbush price target trimmed to $130. The Swiss peripheral maker faces continued PC demand pressure. No major European earnings surprises dominate today's tape.