Trump's $1 billion quantum computing commitment is driving the day's biggest moves. IBM is front and centre. Analyst Dan Ives had flagged it as a "sleeping giant" — now the thesis is playing out. Pure-play names RGTI and QBTS are heavily shorted at 16% and 15% of free float respectively. Borrow on QBTS is especially tight at just 31.5% availability. Options activity across the quantum space is picking up fast.
Meanwhile, China's chip exports doubled to $31 billion. US restrictions are paradoxically fuelling AI demand for Chinese-made components. NVDA and ASML are both in focus. Analysts have pushed Nvidia's consensus target to $294, backed by 57 Buy ratings.
Tariff-driven trade-down is lifting discount retail. and both received upward analyst target revisions today. saw the biggest target jump after strong quarterly results. Earnings from and arrive later this week and will test how durable that consumer shift really is.
Germany's Ifo Business Climate Index came in at 84.9 for May, topping the 84.2 estimate. Current conditions and expectations both beat forecasts. It's a modest but genuine bright spot for European sentiment. Ford added to the European EV story. The company unveiled a new electric hatchback and SUV roadmap aimed directly at Tesla and BYD in Europe.
CVS Director Lawrence Robbins filed over $310 million in sales this week. That's the largest single-week insider filing in recent activity. Wolfspeed remains the most extreme short in the US. Short interest hit 94.9% of free float — up 11 points in just seven days. JPMorgan is looking to offload $4 billion in private equity-linked loan exposure, according to the Financial Times.
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