The Nasdaq 100 climbed to a new high as "AI FOMO" returned to markets. Chip stocks staged a comeback after recent weakness. NVDA remains central to the rally. California Governor Gavin Newsom complicated the backdrop, announcing what he called the nation's strongest data centre protections — a direct shot at federal deregulation efforts.
Tariffs are back in the political spotlight. US senators pressed trade representative Jamieson Greer on $166 billion in tariff refunds. WMT and GM were flagged as companies with direct exposure to any policy shift.
Earnings season is heating up. COST reports Q4 2026 results Thursday after the close. AZO and KBH report Tuesday. Options traders are flagging caution heading into the wave. PAYX shows call skew with 8.3 days-to-cover. is seeing elevated risk pricing ahead of results — the stock is up 177% year-to-date.
On the analyst front, HSBC downgraded NFLX, cutting its target from $96 to $76. Construction aggregates names got a boost. VMC and MLM both received upgrades on improving US infrastructure spending expectations.
Bill Gates disclosed $664 million in purchases of RSG shares, spanning nearly three weeks. It is one of the largest named individual open-market buy clusters on record. On the sell side, CPAY CEO Ron Clarke filed $210 million in sales. MSFT CEO Satya Nadella sold $36 million in shares.
Ionis Pharmaceuticals announced positive Phase 3 data from Roche's IgAN study. The Nasdaq 100 new high comes as European stocks face pressure from elevated UK gilt yields and political uncertainty. SoftBank's $50 billion data centre group has slowed its IPO plans, reflecting lingering caution on AI infrastructure valuations.
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.
