The Trump-Xi summit is front and centre. Markets are watching every signal out of the meeting, with few expecting major breakthroughs. The talks matter most for NVDA. Export control risks remain the key overhang for the AI chipmaker. Options traders are already active — bears are running heavy put positions ahead of Nvidia's Q1 results on May 20. That bearish hedging sits oddly against Nvidia's 17.7% year-to-date gain and $5.3 trillion market cap.
Europe's standout story is the UK bond market. Thirty-year gilt yields hit their highest level this century. Political pressure on Prime Minister Starmer is mounting fast. Andy Burnham is being cited as the biggest risk to UK government bonds. Sterling slid on the news. European equity markets managed to close higher despite the turbulence.
ALGT and SNCY completed their merger today. The deal creates a larger US budget airline. Allegiant and Sun Country had both struggled with overcapacity pressure. Consolidation was the logical move.
On the earnings front, Thursday brings results from STNE and NVMI. The bigger week ahead belongs to TGT and INTU on Wednesday.
Short sellers are hammering WOLF. Short interest jumped 21 percentage points to 74% of free float in a week. Bears are equally active on CVNA, where SI leapt from 2% to 10%. On the buy side, General Atlantic added nearly $35M to its ALKT stake. Leerink upgraded JNJ to Buy with a $265 target. The IEA today warned of further oil price spikes as inventories plunge — an energy story worth tracking into next week.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
