US equities are set to slip from record highs on Tuesday. The S&P 500 and Nasdaq pulled back slightly after recent all-time peaks. AI continues to dominate the narrative. NVDA CEO Jensen Huang singled out Mrvl Marvell as a potential trillion-dollar company. Marvell shares jumped immediately. Alphabet meanwhile asked shareholders to approve an $80 billion AI capital spending program — one of the largest tech commitments on record.
HPE surged toward a record gain. Strong earnings showed a networking bonanza driven by AI infrastructure demand. Micron also pushed past $1,000 per share, with Wall Street still bullish.
IBM detailed a $10 billion, five-year investment in quantum computing. The announcement adds another dimension to the tech spending wave reshaping global markets.
SHW absorbed a UBS downgrade to Neutral today, with the target cut to $330. INTU also faces fresh analyst pressure following its own downgrade flagged earlier this week.
Short interest data shows divergence. SHAK shorts covered sharply — SI fell 28% in one week to 12.3% of free float. ZIM cost to borrow jumped 176% in a single week to 1.43%. That signals tightening borrow supply and rising squeeze pressure for shorts in the shipping name.
European stocks are sliding today. Defence names rallied after Ukraine ratified a $105 billion EU loan deal. The Dulux maker — AKZA — soared after rejecting a $14.5 billion takeover bid.
ABVX — Abivax — is sinking Tuesday. The French biotech listed in the US fell sharply, with traders citing clinical trial concerns.
All eyes today shift to ULTA and DG. Both consumer names report after the close. Cautious household spending makes guidance the key watch. MDT and PVH follow on Tuesday.
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.
