Chip stocks led US indices lower before staging a partial comeback. The S&P 500 and Nasdaq both closed weaker as AI-linked names gave back gains. A political flashpoint added to the noise — a senator sounded the alarm over a possible Trump meeting with BYD, the Chinese EV giant. The concern: any deal could hurt US automakers and pressure Tesla. NVIDIA also featured in the BYD chatter, given its chip exposure to Chinese markets.
On short interest, bears stayed aggressive. Lucid Group hit 50.1% of free float shorted, up nearly 15 points in a week. Availability is almost gone at just 0.46%. Hertz rose to 67.2% shorted. Chewy climbed to 72.6%. These are not casual positions — they signal deep structural doubt about each name's path to profitability.
European markets slid overall, but the defence sector bucked the trend. Ukraine ratified a $105 billion EU loan deal, driving buying in defence stocks. UK inflation stayed elevated, keeping bond yields high and squeezing rate-sensitive sectors. A cinema chain called Vue is exploring a £1.5 billion London IPO — the first major European listing attempt of the autumn.
Dell, Palo Alto Networks, and Arista Networks join a major index on Monday. Passive fund buying is expected. Progressive Corporation reports earnings today — the biggest confirmed name on this week's calendar. In Paris, Virbac and Robertet also post results.
The NVIDIA director selling — $411 million across three days — remains the most striking insider story of the week.
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.
