The biggest macro story of the day: Trump wrapped up his Beijing trip calling US-China relations "in a good place." Markets reacted fast. NVDA, MU, AMD, and INTC led the charge as chip stocks — heavily exposed to China demand — drew the heaviest bullish options flow of the week. The AI infrastructure trade is back in focus.
The bond market sent a sharper signal, however. The US sold 30-year Treasuries at a 5% yield for the first time since 2007. That $25 billion auction came hours after producer price data showed the sharpest rise since Russia invaded Ukraine. Rate-sensitive names face pressure.
Bears are doubling down on WOLF. Wolfspeed's short interest hit 80.1% of free float — up 22.5 points in a single week. Zero shares remain available to borrow. also drew fresh short interest, jumping 8 points to 10.2% of free float.
On the other side, Bill Gates filed a $100M stake increase in RSG. Waste Connections CEO Ronald Mittelstaedt filed a $15.2M personal buy in WCN the same day. Smart money is buying into defensive, cash-generative businesses — a notable contrast to the risk-on mood in chip stocks.
European markets finished higher on the day. The FT flags that Europe's few AI plays are soaring as the US tech frenzy spreads globally — investors are hunting for winners in a market that has long lagged Wall Street. UK gilts stayed volatile as political pressure on PM Starmer intensified.
Home Depot leads a packed earnings week. Lowe's and Target follow Tuesday. All three will face scrutiny on tariff cost pass-through and the state of the US consumer.
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.
