The chip trade dominates as Q3 books close. NVDA announced a $150 billion buyback — one of the largest in US history. Shares initially rallied then reversed, but options flow remains firmly bullish. MU reports Q4 2026 results tomorrow after the close. Taiwan's August export orders hit a record $103bn — nearly double the prior year — the strongest August reading since 1984. That figure underpins bullish call activity into MU, AMD, and NVDA ahead of Micron's print.
TSLA moved quietly but meaningfully today. The company entered an $8bn five-year revolving facility and a $20bn three-year delayed-draw term loan. It also opened a $2bn 364-day revolver. Together the facilities give Tesla over $30bn in fresh liquidity headroom — a significant balance sheet event heading into quarter-end.
Short sellers added pressure to Lucid Group, where SI % of FF jumped to 58.1% from 50.6% in a week. Fair Isaac crashed 27% — its worst single day since 1989 — as short interest had already been climbing. Wolfspeed sits at 81.3% SI % of FF with zero shares available to borrow.
Wall Street raised targets on Merck and Amgen sharply today. Jefferies trimmed energy names including EQT and Baker Hughes, flagging caution on the complex. Nike reports Q1 2027 on Wednesday — the next big consumer read.
Canada's CPI hit its highest August reading since 1914. Italian unemployment fell to a record low of 5.8% in July. Both readings point to a global economy still running warm as central banks manage the final stretch of this rate cycle.
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