A heavy earnings calendar is setting the tone on August 4. Palantir reports tonight after the bell. Markets will scrutinise its AI-driven revenue trajectory closely. Vertex Pharmaceuticals also posts after the close. The $121bn biotech is a key watch for drug pipeline sentiment. Marriott reported at midday, giving investors an early read on consumer travel spending. ON Semiconductor also reports after the close — notable given an analyst upgrade to Buy issued today, with a consensus target of $111.38. Tomorrow brings Caterpillar and McDonald's, key reads on industrial demand and consumer health respectively.
Novo Nordisk dominated European headlines. The Danish pharma giant reported Q2 adjusted sales up 7% at constant exchange rates. Operating profit rose 11% at CER. The company raised its full-year adjusted sales outlook to -6% to 0% at CER. Crucially, improved GLP-1 product sales drove the upgrade. The results were offset by DKK 6.3bn in non-cash impairment charges on pipeline assets. The stock is a key European mover today.
Crypto miner IREN continues attracting bears. Short interest hit 33% of free float, up 2.2 points in a week. Borrow availability has nearly vanished at just 1.3% of SI. Meanwhile, INGM — Ingram Micro — shows a notable split. Options sentiment is cautious, yet shares are extremely easy to borrow, with availability at 2,344% of SI. That tension is a live signal for traders.
The FT flagged US currency activism. Bessent's yen intervention signals Washington is willing to scupper trades that push against its interests. BP is selling its $4bn US biogas business as profits more than doubled. HSBC resumed share buybacks after quarterly profits hit $10.1bn.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
