Markets on Edge: Earnings, Shorts, and Yen Shock

Macro in Focus

The Japanese yen grabbed global attention today. It jumped 3% amid speculation of intervention by Tokyo. The New York Fed sold euros to buy yen in what FT described as a "historic" action. That move rippled through Asia-Pacific equities. South Korea's market surged 18% as investors piled back into AI and chip stocks. Chipmakers broadly rebounded after a bruising month.

Earnings Blitz Begins

The week's earnings calendar is packed. Palantir reports tonight — markets will watch AI revenue closely. Vertex Pharmaceuticals also posts after the close. Tomorrow, Caterpillar and McDonald's both report at midday. Their results will test the health of industrial demand and consumer spending. Europe is also active, with Mitsubishi UFJ reporting today.

Short Sellers Double Down

Bears are piling further into Hertz Global Holdings and Chewy. Hertz SI % of Free Float hit 80.9% — up nearly 19 points in a month. The stock is down 74% over three months. Chewy's SI reached 81.4% of FF. Both names carry heavy options bearish flow and remain easy to borrow, giving shorts little incentive to exit.

Analysts Back Cloud, Trim Energy

Datadog led today's upgrades. Its consensus target rose to $274. Analysts are tilting bullish on cloud observability. On the other side, Williams Companies was downgraded. Natural gas pipeline names face pressure as analysts reassess valuations. Expand Energy bucked that trend with a fresh upgrade.

Insiders Cash Out

Charles Schwab's founder sold over $15 million in SCHW shares across two days. Three SkyWest executives sold a combined $9.6 million within days of each other — a cluster worth watching after the airline's strong run.