NVDA dropped the session's biggest number. The chipmaker beat Q1 estimates on both revenue and earnings. It raised its dividend and signalled it is not counting on China data centre revenue in its outlook. Management called the AI infrastructure buildout the "largest expansion in human history." The result comes as options traders had been piling into near-term puts on SPY and QQQ after Fed minutes flagged possible rate hikes instead of cuts. Nvidia's beat gives bulls a counter-argument.
Wednesday's Fed minutes rattled markets. Officials raised the prospect of higher rates. That sent options traders rushing to hedge. INTU added to the noise by announcing it is cutting investment in Mailchimp and streamlining engineering. Short-dated puts spiked on both the stock and index ETFs ahead of month-end.
Marks and Spencer delivered full-year results today. The UK retailer has been a standout turnaround story. Investors watched margins closely after supply chain disruption earlier this year. Norwegian salmon farmer SalMar also reported, with salmon prices remaining volatile through 2026.
WOLF remains the most extreme short in the mid-cap universe. SI % FF hit 113.8% with zero shares left to borrow. Bill Gates filed over $120M in RSG purchases this week — the largest insider buy in recent filings. Crown Castle CCI drew a downgrade from analysts as tower demand concerns mount. AT&T reiterated full-year guidance and confirmed it will retire copper services in California by mid-2027.
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