Thursday was driven by three clear themes: AI infrastructure spending, defense stock momentum, and a wave of earnings results.
IREN grabbed headlines after Microsoft partner secured a $3.6 billion loan to buy NVIDIA chips. The deal underlines how aggressively AI infrastructure firms are leveraging up to capture demand. Meanwhile, the EU opened talks with Anthropic over access to its Mythos AI model — a reminder that regulators are circling the AI space on both sides of the Atlantic.
AeroVironment surged on the session. The drone maker is riding a wave of defence spending optimism, joining Ondas and Red Cat Holdings in a broader rally for unmanned systems names.
On earnings, Costco reported Q3 2026 results. Bears hold just 1.7% short interest — the market was not expecting a stumble. Dell released Q1 2027 numbers after the close, with 6.7% short interest offering modest squeeze potential if results impressed.
Agilent Technologies moved higher after an RBC upgrade to Buy. Best Buy, MongoDB, Snowflake, and Cloudflare also climbed.
AstraZeneca scored an FDA approval for durvalumab in combination with BCG for high-risk bladder cancer. It is a meaningful label expansion for one of Europe's biggest drug makers.
Canada's PM Carney publicly pressed China to move faster on economic imbalances — adding a fresh geopolitical note to trade-sensitive names.
Petrobras hiked gasoline prices after Brazil approved subsidy changes, boosting the state oil giant's near-term revenue outlook.
Bears pressed hardest into Wolfspeed, where short interest hit 134% of free float. Chewy and Grindr also saw sharp increases. On the analyst front, Micron received a stunning $1,500 price target from DA Davidson, while Salesforce drew three target cuts in a single session.
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