Trump's visit to China dominated the macro backdrop today. Key topics included Taiwan and a new framework for US-China relations. NVDA, BA, and GE all featured in the news flow around the trip. Separately, Big Tech groups including GOOGL are tapping foreign debt markets at record rates to fund AI expansion.
All eyes turn to Wednesday. NVDA reports Q1 FY2027 results on May 20 after the close. Traders are positioned firmly bullish — RSI sits at 76.7. Options chains extend out to August, signalling conviction well beyond the print. AMAT also drew fresh analyst attention today. TD Cowen raised its price target to $525. JP Morgan already lifted its target to $515 earlier this week.
Wolfspeed saw short interest explode to 89% of free float — up 29 points in a week. Zero shares remain available to borrow. Lucid Group held at 34.7% SI. Borrow costs run at 9.8%. Both names face intense bearish pressure heading into the week.
UK markets stayed volatile. Gilt prices fell as traders priced in political risk around PM Starmer's leadership. Greater Manchester Mayor Andy Burnham emerged as a lightning rod for concerns about loosening borrowing limits. European stocks closed higher overall despite the political noise.
Heavy insider selling defined May. CoreWeave saw over $920 million in sales from major shareholder Magnetar Financial. LifeStance Health recorded $280 million in combined sales. The selling wave reflects a broader shift as early backers reduce exposure after strong runs.
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.
