Semis, Oil, and Big Earnings Shape the Week

US: Bears Pile Into Tech Names

Short sellers are pressing hard across several sectors. CHWY saw the biggest short interest jump of the past week — up 5 percentage points to 51.5% of free float. WOLF sits at a punishing 74.9% short interest with zero shares available to borrow, making any squeeze nearly impossible.

Options markets are amplifying the bearish tone. Negative put flow dominated semiconductor names. MU drew the heaviest put volume among large caps ahead of its Q4 results. NVDA also attracted outsized put activity despite shares up 23.5% year-to-date — and a political headwind emerged as Senator Bernie Sanders publicly targeted big tech AI spending, naming Nvidia and MSFT specifically.

Earnings Front and Centre

Thursday is the marquee day. ORCL and ADBE both report after the bell on September 10. Oracle carries just 2.9% short interest — bears are not pressing. Adobe's 4.6% short interest is equally light. Analysts will focus on AI cloud demand from Oracle and creative software monetisation from Adobe. Today, CASY and ABM post results after the close.

Oil Shock Hits Markets

Crude oil is closing in on $100 a barrel. Saudi Aramco facilities near Jizan were struck again by Houthi rebels. Traders are warning that supply disruptions are tightening inventories fast. Energy names are likely to see elevated volatility this week.

Europe: Defence Rallies, Chips Slide

European stocks slid broadly, though defence names bucked the trend after Ukraine ratified a $105 billion EU loan deal. South Korean markets fell over 5% as tech heavyweights followed Wall Street's chip selloff. The yen strengthened to a six-month high below ¥154 per dollar, adding pressure on export-heavy names across Asia.

Analyst Moves

MRNA received a target price lift, though 13.4% short interest shows bears remain sceptical. AMD saw a modest target cut. GD gained analyst support as defence spending tailwinds stay strong.