A Fidelity strategist fired a warning shot at the AI trade today. The $3.3 trillion buildout is "dead money," the firm said — inflationary with unknown returns. The call hit META, MSFT, AMZN, and GOOGL simultaneously. Adding pressure on chips, China is reviewing its reliance on AVGO Broadcom switches in data centres, per the FT. Short interest in SpaceX (SPCX) climbed to 29.4% of free float this week. Bears are clearly building positions across the AI-adjacent trade.
BA Boeing's SPEEA bargaining committees endorsed a new contract offer this morning. The deal includes gains in compensation, benefits, and workforce development. It ends a key labour uncertainty that has shadowed the planemaker for months. The stock is one to watch at the open.
NOVO B Novo Nordisk is open to upgrading its New York listing, according to the Financial Times. The Ozempic maker already trades on Nasdaq as an ADR. A full US listing would significantly expand its investor base and liquidity. It is a notable strategic shift from one of Europe's biggest companies.
Analysts upgraded BAC, SYF, and RJF today. Financials are the clear consensus upgrade sector of the session. Meanwhile, GME GameStop's short interest jumped to 7.2% of free float from under 1% a week ago. Reddit is already drawing parallels to 2021. Options traders are flashing caution too — THO THOR Industries carries 13.9 days-to-cover and is down 32% year-to-date. Earnings season heats up Thursday when COST Costco reports Q4 results.
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