Wednesday in Focus: Boeing Deals, Chip Bears, and Costco Tonight

Macro: Inflation Debate Reignites

Fed Governor Kevin Warsh reaffirmed the 2% inflation target as "firm and fixed" this morning. That clashes with MCD McDonald's CEO, who warned that elevated inflation could persist for years. The split view adds uncertainty ahead of tonight's key earnings print.

US: Boeing's Big Day

BA Boeing grabbed early headlines. Trump praised the company's 111-plane deal with Türkiye and Bangladesh. He called it a "big day" for US manufacturing. The deals could support tens of thousands of American jobs. Boeing appears as a crossover name in both options and news flow today.

Chips: Rally Under Pressure

Semiconductor sentiment is turning cautious. Options negative bets are piling into MU Micron — up 284% year-to-date — and SNDK Sandisk, up a remarkable 695% in 2026. NVDA and AMD also attract bearish options flow. AMD's RSI sits above 73, technically overbought. Analysts simultaneously downgraded CDNS Cadence, saying price has run ahead of fundamentals. The message across both options and analyst data is the same: the chip rally looks stretched.

Tonight: Costco Reports

COST reports Q4 2026 results after the bell tonight. It's the biggest earnings event of the week. Short interest on Costco is just 1.7% of free float — the market is not betting against it.

Analysts: Infrastructure Gets the Nod

PWR Quanta Services drew an upgrade today. Analysts pushed the consensus target to $769.63. Grid modernisation demand is the key driver. ABNB Airbnb and BX Blackstone also gained upgrades. Travel and alternative assets remain in favour heading into Q4.