Amazon Steals the Show in a Packed Earnings Week

Amazon is the morning's biggest story. Shares surged 12% in pre-market trading after blowout Q2 results. Analysts say the company is already generating meaningful returns from its AI investments. The move puts Amazon at the centre of a week already heavy with major corporate releases.

Earnings Season in Full Swing

Today alone, ExxonMobil, AbbVie, Chevron, and Linde post Q2 results. Their combined market cap tops $1.7 trillion. Options sentiment leans bullish on the two oil majors. Brent above $100 gives call buyers a tailwind. Monday brings Caterpillar, Merck, AMD, and McDonald's. Palantir reports Sunday evening. Eli Lilly follows Tuesday. It is one of the busiest earnings weeks of the year.

Europe: BP and HSBC Make Moves

BP is marketing its UK North Sea business for a potential sale. The move is part of a wider portfolio review. Separately, HSBC sold its $25 billion Australian home loan book to Blackstone. HSBC also reports earnings Monday. European short sellers are eyeing Germany — the iShares MSCI Germany ETF EWG hit 96.5% utilization, near its 52-week peak.

Bears and Insiders Watch List

Short sellers remain aggressive on Hertz and Chewy, with both sitting above 75% SI % of free float. Options flow on Meta still skews bearish ahead of its earnings. On the insider front, healthcare names including Liquidia saw over $23M in venture-backed selling this week.

Ford added to its headaches with two separate vehicle recalls covering over 130,000 cars this morning.