US futures pushed higher Tuesday after reports of American "defensive strikes" on Iran. Defence names caught a bid. LUNR and Israeli defence firm Elbit Systems were both in focus. Iran tensions have been driving oil price volatility all week. The FT warned the energy shock "is not over yet" — even a deal to reopen the Strait of Hormuz may take time to normalise supply.
NVDA CEO Jensen Huang declared AI has crossed a key threshold: "Tokens are now profitable." The comment landed across major media outlets and lifted broader AI sentiment. AMD and INTC both moved in sympathy. Intel remains under pressure after analysts raised their sell count to 13. Competing against Nvidia in AI chips is proving a hard sell for the Street.
A packed reporting week is under way. CRM Salesforce and Marvell report Tuesday after the close — both flagged as key AI infrastructure spending signals. Costco is due Wednesday evening. Retail names and also report Wednesday, with consumer spending in sharp focus.
WOLF short interest hit 117.5% of free float. Availability has dropped to zero — new short positions simply cannot be opened. Any positive catalyst risks a sharp squeeze. CHWY bears remain active at 53% SI, while SOUN carries a 23.7% APR cost to borrow — one of the highest in the mid-cap space.
UK gilt yields posted their biggest weekly drop since 2023. Chancellor Burnham pledged to hold fiscal rules. That pulled back bets on higher Bank of England rates and provided some relief to sterling-sensitive equities.
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