Bears, Chips, and a Packed Earnings Calendar

US Market: Shorts and Squeeze Risk

Short sellers are dividing sharply between winners and losers. CHWY short interest hit 81% of free float this week — up 5.4 points in seven days. Bears are piling in aggressively. Meanwhile, EVCM sits at the other extreme, with a short score of 95.5 and 23 days to cover. Any positive catalyst there could trigger a violent squeeze.

Chip stocks drove the session's biggest macro swings. Micron Technology is up 213% year-to-date and drew the largest call-side bets of the week. SanDisk gained 469% YTD. Headlines confirm the S&P 500 and Nasdaq closed lower as a chip rebound stalled. Iran tensions kept traders cautious through the session.

Earnings Season Heats Up

Today brings a cluster of S&P 500 reports. Aflac, AIG, power producer Vistra, and gaming name Take-Two Interactive all report Friday. Simon Property Group, the largest US mall operator, reports Monday — a key read on consumer health. Over 1,100 European companies also report this week.

Europe: Defense Rallies, Geopolitics Dominate

European stocks slid broadly but defense names bucked the trend. Ukraine ratified a €105 billion EU loan deal, fuelling buying in the sector. Iran diplomacy continues to rattle sentiment. European markets have swung in both directions this week as peace talks start and stall.

Insider Watch

Life Time Group saw its CEO, CFO, and president sell a combined $24M+ on the same day. Charles Schwab's founder trimmed $15M at SCHW across two sessions. Analysts lifted targets on industrials W.W. Grainger and Parker-Hannifin after earnings beats.