Oil fell to a three-month low Friday. Trump signalled the US is close to a deal with Iran. That sent energy prices sharply lower. Stocks and government bonds rallied on hopes an energy shock could be avoided. Gold sank to a six-month low. Speculative investors exited bullion. It's on track for its worst quarter in nearly a decade.
The chip-versus-software split intensified this week. AMD drew an analyst upgrade, with the consensus target rising to $486. Oracle endured its worst week since 2002 despite its ORTEX momentum score climbing toward 70. That divergence is drawing call buyers. Adobe had the toughest week in software. Citigroup cut its target 14% to $228. Leadership exits overshadowed an earnings beat. Short interest stands at 4.8% of free float. Bearish options remain active into the June 18 expiry.
Short sellers made their biggest moves in nearly a year. Cerebras Systems saw short interest jump over 19 percentage points in one week to 25.6% of free float. The rental car sector remains deeply shorted. sits at 45.8% SI of free float. cost to borrow rocketed from 11% to 44% APR in seven days.
European defence stocks gave back recent gains Friday. The rally stalled on fresh concerns over funding. Higher government borrowing costs are hitting what had been one of the strongest trades of 2026. Freedom Holding announced a $300 million stock offering starting the week of June 15. SI utilisation hit 92.9%, near its 52-week high.
Three Dell executives filed sales totalling $472 million this week. That is the largest US insider selling cluster of the week. Marc Andreessen separately sold $32 million of Samsara shares.
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.
