Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Bank of America reports Q3 2026 results today, the first major bank to post this season. Progressive also reports today. Morgan Stanley follows later this week, alongside Charles Schwab and BNY Mellon. Markets are watching for signs of stress in net interest margins and consumer credit after months of rate volatility.
The bigger prints come later. Tesla reports on 21 October. posts a day earlier. ORTEX Alt Data tracking German car registrations, a dataset that leads GM revenue by 15 days with a strong fit, is running 133% above the same quarter last year. The equivalent reading for Tesla is 269% above year-ago levels, three months in a row. Both readings cut against the bearish options positioning that dominated this week's flow tables for and Tesla.
Morgan Stanley ran a broad round of target price cuts across business services and data analytics names. Verisk took the sharpest reduction, down $20 to $215 on a Hold. MSCI Inc fell to $662. Waste Management and Republic Services were also trimmed. The one bright spot: Thermo Fisher got an $80 lift to $730 on a Buy.
Two names face sharply higher deletion odds from the MSCI World index ahead of the 19 October rank date. Flutter Entertainment moved from 29% to 86% probability overnight, with $589M of forced selling at stake. Mid-America Apartment Communities shifted from 40% to 84%, carrying $761M. Any announcement would follow on 11 November.
China's September trade balance came in at $133.5B, well above the $116.8B estimate. Imports rose 31% year on year, beating the 24.5% consensus. The data adds to a mixed picture for global demand heading into Q4.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
