Chips, Labour Records, and a Week Packed With Earnings

Semiconductors Under Fire

Bears are pressing hard on chip stocks. Options flow data shows MU, AMD, NVDA and INTC all ranking at the top of negative options screens over the past seven days. RSI readings back that up. Intel sits at 25.7, Micron at 31.3, and AMD at 38.4. All three are near or in oversold territory. Short sellers are adding pressure too. Wolfspeed carries short interest at 88.9% of free float, and its options chain now stretches from the November 13 expiry through to January 2027.

US Jobs Hit Record Highs

US nonfarm payrolls reached 159,293 thousand in October 2026. That is the largest October reading since records began in 1997, according to ORTEX alt data. Average hourly earnings rose to $38.00 per hour, also an October record since 2006. The strength in wages puts further pressure on consumer-staples margins. Conagra Brands has already attracted fresh shorts, with SI up 2.19 percentage points to 10.9% of free float.

Europe: Petrol Fades, EVs Rise

European new petrol car registrations fell to 4,548 vehicles in October 2026. That is the smallest October figure on record since 2016. Finland bucked the trend with 3,404 new battery-electric car registrations, the highest October figure since records began in 2014. Polestar Automotive reports Thursday. ORTEX alt data shows Dutch car registrations running 68% below the same quarter last year, a leading indicator with a strong fit to revenue.

MSCI World Decision in Three Days

The MSCI World November review announces on 11 November. About eight deletions are expected. Flutter Entertainment and Textron carry the highest deletion probabilities at 78% and 79% respectively. Moderna leads the addition candidates with an 88% forecast probability and $6.4 billion of potential forced buying.

Honda Motor and Nissan both report Monday 10 November. ORTEX alt data shows Japanese car registrations running 6% and 12% ahead year-on-year for each company respectively.