NVIDIA is the undisputed story of the day. The company's Q2 results dropped after hours, with revenue on track to grow 18x in four years. One analyst called it "never in history" growth for a company of this scale. The stock popped 4.7% after the print. Bears have effectively given up — short interest sits at just 1.2% of free float. Options flow told a split story ahead of results, with heavy put volume alongside bullish bets, but the bulls won. ServiceNow also trended after hours, adding to the AI infrastructure theme dominating markets this week.
Affirm reported its Q4 results, testing a Wall Street that had already priced in optimism. Li Auto delivered an earnings print that failed to shift sentiment, leaving the Chinese EV name stuck in a trading range. NIO and remain in focus as investors assess China EV demand. Thursday brings , , and , plus Canadian banks and .
Intuit drew a rare consensus downgrade today, with the average target cut to $428.61. AI risks to its tax business are the concern. Meanwhile, Veeva Systems got the biggest target lift of the session, climbing to $264.70. On the short side, bears piled into HighPeak Energy, pushing SI to 42.5% of free float. Bill Gates filed over $160M in fresh purchases of Republic Services, one of the largest insider buys of the week.
The national average gas price is expected to drop below $4 per gallon by Labor Day, offering modest relief for consumers ahead of the holiday weekend.
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