Thursday brings a packed earnings slate. McDonald's reports pre-market with all eyes on whether value meal promotions are sustaining traffic. Gilead Sciences follows after the close. Becton Dickinson, MetLife, and Microchip Technology also post results today.
On the analyst front, Occidental Petroleum faces fresh pressure. The stock was downgraded toward Sell as falling crude prices weigh on energy names. Insulet saw its average price target cut sharply, dropping $26 to $300. In semiconductors, Intel is drawing heavy put activity despite a 160% YTD run — traders are betting the rally is near its peak. and are seeing two-sided options flow, with bulls and bears both active after gains of 102% and 429% YTD respectively.
Short sellers are pressing Wolfspeed, where SI now sits at 52.7% of free float. Borrow availability has collapsed to just 2.4% — a tight short that could snap back hard on any positive news.
Samsung's market cap crossed $1 trillion on AI-driven memory chip optimism, pushing South Korea's Kospi index to a record high. The move echoes the semiconductor enthusiasm seen in US markets.
The Iran conflict continues to hang over sentiment. Global oil reserves are falling at a record pace. That is contributing to gold volatility and pushing the yen higher as Japan signals potential intervention. European stocks recovered some ground after oil prices dipped, with the BOE and ECB both holding rates steady.
The SEC is also making waves, proposing to replace quarterly earnings filings with semi-annual reports — a potential shake-up for market transparency.
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