Chips, Cars, and Index Clocks: Friday's Market Pulse

US: Chips and Data Centers in Focus

Semiconductors are dominating both sides of Friday's market. NVDA sits at the top of bullish and bearish options rankings simultaneously. Its 14-day RSI has fallen to 25, deep in oversold territory. Reports of Nvidia committing billions to advanced chip packaging are pulling options traders in both directions. MU leads the positive-bets table outright. Its RSI of 27 is one of the most extreme oversold readings in large-cap tech. INTC carries an RSI of just 20. Oracle added a fresh layer of unease: data center concerns around its AI strategy are drawing Wall Street attention, dragging in names like AMZN, GOOGL, and MSFT.

Short sellers also moved on consumer names. MGM Resorts saw short interest climb to 14.3% of free float from 12.1% in a week. Conagra rose to 10.9% from 8.7%. On the index radar, Mosaic carries a 73% deletion probability for the S&P 500 December review. SharkNinja leads addition candidates at 64%, with $4.1B of potential buying attached.

Europe: Recordati Deal Clock Starts Today

CVC Capital Partners' tender offer for Recordati opens today, running through 30 November. Completion probability stands at 93%. If it closes, the FTSE MIB deletion announcement is expected Monday. That would force $220M of selling across 10.5 days of normal volume. MSCI World announces its November review on 11 November, three sessions away. Flutter Entertainment and Textron both carry deletion probabilities above 78%. Moderna stands at 88% for addition, with $6.4B of potential buying on the trade date.

Autos and Alt Data

Honda Motor reports today. The ORTEX Japan car sales dataset, which leads Honda's revenue by 65 days with a strong fit, is running +6% year-on-year for the current quarter. Finland registered just 5,573 new cars in October, the smallest October total on record since 2014. Battery-electric registrations there rose 53% year-on-year to 3,404 units. US nonfarm payrolls have risen for three consecutive months, reaching 159,293 thousand in October, with the labour force participation rate also extending its streak to 61.9%.