Wednesday is what markets have been waiting for. NVDA reports after the close on August 26. The chipmaker holds a $5.2 trillion market cap. Options traders are positioned on both sides with the stock's RSI sitting at a dead-neutral 51. Also reporting Wednesday: CRM, CRWD, SNPS, and VEEV. Tuesday brings INTU, while MRVL, ADSK, and WDAY round out the week Thursday.
The biggest macro story of the day comes from the Treasury market. US Treasury Secretary Bessent moved to "at least double" purchases of long-term US debt. The effort failed to calm investors. The 30-year Treasury yield rose anyway. FT reports Wall Street is calling the move a "band-aid on a bullet hole." Bond vigilantes are pushing back hard. Japanese inflation is also rising simultaneously, putting pressure on the Bank of Japan ahead of a September rate decision. The yen has weakened despite joint intervention.
Bears have been active ahead of earnings. RDDT saw short interest jump 4.2 percentage points to 17.6% of free float — one of the biggest weekly moves among large-caps. WOLF remains in extreme squeeze territory at 79.9% SI with near-zero availability. Meanwhile TTD — The Trade Desk — slid after the close today on unspecified news. Bausch + Lomb fell after its dry-eye drug missed its Phase 2 primary endpoint.
Citigroup dramatically raised its ACN target by 41% to $190. Raymond James trimmed targets on LUV and DAL, while Jefferies lifted its WDAY target to $225 ahead of Thursday's earnings print.
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.
