Freight, Chips, and Big Money Moves Dominate

Earnings Watch

Wednesday is the week's main event for markets. Oracle and Adobe both report after the close. Investors are focused on Oracle's cloud and AI revenue trajectory. Adobe faces questions on AI-driven creative tool demand. Both are heavyweight software bellwethers. Earlier in the week, Caleres and Cooper Companies report today, with Kroger due Thursday. UK-listed Kier Group releases full-year 2026 results on September 15.

Freight in Focus

Citi upgraded both Old Dominion and C.H. Robinson to Buy, signalling renewed confidence in trucking after a long downcycle. JP Morgan cut its FedEx target to $400 from $460. Short sellers agree freight is in flux — Knight-Swift saw its short interest nearly double week-over-week, hitting 10.9% of free float.

Big Insider Moves

An NVIDIA board director filed sales of roughly 1.85 million shares totalling $411 million between September 2 and 3. Bill Gates went the other way. He filed a purchase of over 1.08 million shares in Republic Services for $241 million — adding to an already large position.

M&A and Market Movers

Chime Financial jumped nearly 10% after agreeing to buy banking partner Stride for $590 million. The deal expands Chime's in-house capabilities. Separately, Bloom Energy is riding a 191% year-to-date gain after joining the S&P 500. Options call flow in the name picked up sharply following the index inclusion.

Short Sellers Watch Squeeze Setups

Wolfspeed remains the tightest short on the board. SI sits at 74.8% of free float with zero shares available to borrow. Hertz is similarly constrained at 62.4%. Both are classic squeeze candidates if sentiment shifts.