Trump Doubles Canadian Tariffs; Larry Summers on Recession Odds
Get a jump start on the US trading day with "Bloomberg Open Interest". Matt Miller, Katie Greifeld and Sonali Basak. Wall Street's biggest Bull John Stoltzfus of Oppenheimer Asset Management joins Bloomberg Open Interest as President Trump ramps up the US trade war against Canada, rattling stocks as the S&P 500 slides to within a whisker of correction. (Source: Bloomberg)
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Bloomberg: The Asia Trade 9/6/25
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Business Insider
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Short Report: Short interest in Clear Secure hits record high
Welcome to this week's installment of 'The Short Interest Report' – The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 0.5%, the Nasdaq Composite was up 0.6%, the Russell 2000 index was up 1.2%, the Russell 2000 Growth ETF (IWO) was up 2.0%, and the Russell 2000 Value ETF (IWN) was up 0.3% in the five-day trading session range through June 5. Confident Investing Starts Here: SHORT INTEREST GAINERS Ortex-reported short interest in Hims & Hers (HIMS) hit a record high of 37.6% in the first week of May as bears questioned the rebound in shares over the prior two weeks. With the sharp bounce persisting into mid-May – the stock ended up more than doubling from mid-April to May 14 peak – shorts then reduced their exposure to just north of 30%. This week however, bearish appetite in this volatile name has resurfaced. Shorts as a percentage of free float rose from 30.7% to 33.6% and days-to-cover was up from 1.2 to 1.6 even though trading volumes remained steady. The stock was up less than 1% in the five-day period covered through Thursday, but inclusive of Friday's 6.8% jump, shares are now up 133% year-to-date. Ortex-reported short interest in Clear Secure (YOU) had tracked sideways in a 20.5%-23.5% range from mid-February through the final week of April, though bearish appetite has picked up notably through May and into June even though the stock has traded without much conviction on either side. In the five-day period covered, shorts as a percentage of free float rose from 27.2% to 29.3% – a record high, while days-to-cover reached a three-month high with a 90 basis point advance to 6.5 amid thinner volume. Shares were up 6.8% in the five-day period covered, though year-to-date, Clear Secure shares are still down about 2%. Ortex-reported short interest in Designer Brands (DBI) troughed around 23% in the final week of April but has since shot higher in spite of the bounce in the stock price. This week, shorts as a percentage of free float jumped from 27.7% to 32.2% – the highest level in nearly five months. Likewise, despite the steady levels of trading volume, days-to-cover on the name also shifted notably, rising from 4.9 to 8.4. Ahead of Designer Brands' Q1 results on deck for next week, over the five-day period covered through Thursday, the stock rose 1.1% and relative to its April lows, shares are up 57% – inclusive of Friday's 5% gain. Year-to-date, the stock is still down 28.5%. Ortex-reported short interest in Gogo (GOGO) had started its collapse from high-altitude levels above 30% to less than 27% in mid-March when the company disclosed a Supplemental Type Certificate FAA approval for its tail mount terminal for Gulfstream aircraft, sending its stock higher by 25% within a week. Bearish positioning was then dealt a blow in early May when the company's Q1 results and affirmed guidance also featured the disclosure of a PMA – Parts Manufacturer Approval – for its Galileo FDX antenna, sending short interest down to fresh seven-month lows below 26%. This week, short-covering momentum continued, with shorts as a percentage of free float falling another two and a half points 21.8% – the lowest level since late October. Meanwhile, the stock picked up about 3% in the five-day period covered this week and also has now registered a 37% gain year-to-date. Last week, Ortex-reported short interest in AST SpaceMobile (ASTS) reached the highest level since late March of around 30%. This week however, shorts as a percentage of free float shrunk to 25.5%, while the stock staged a steep 30% jump in the five-day period covered. Driving short-sellers to the exits was an Instagram post by AST SpaceMobile board member Adriana Cisneros titled 'Amazing things are happening at AST & Science + @blueorigin', which has elevated speculation that Amazon's Jeff Bezos might become an ASTS investor. Year-to-date, AST SpaceMobile shares are now up about 48%.
San Francisco Chronicle
42 minutes ago
- San Francisco Chronicle
Asian shares rally ahead of US-China trade talks
HONG KONG (AP) — Shares rose in Asia on Monday ahead of the second round of trade talks between Washington and Beijing, due later in the day in London. Tokyo's Nikkei 225 gained 1.1% to 38,137.09 as the government reported that the Japanese economy contracted by 0.2% in the January-March quarter. In South Korea, the Kospi added 1.9% to 2,865.52. Chinese markets rose even though the government reported that exports slowed in May, growing 4.8% from a year earlier after a jump of more than 8% in April. Exports to the United States fell nearly 10% compared with a year earlier. China also reported that consumer prices fell 0.1% in May from a year earlier, marking the fourth consecutive month of deflation. Hong Kong's Hang Seng picked up 1.4% to 24,119.64 while the Shanghai Composite Index climbed 0.4% to 3,397.13. Australia's market was closed for a public holiday. On Friday, stocks gained ground on Wall Street following a better-than-expected report on the U.S. job market. The gains were broad, with every sector in the S&P 500 rising. That solidified a second consecutive winning week for the benchmark index, which has rallied back from a slump two months ago to come within striking distance of its record high. The S&P 500 rose 1% to 6,000.36. The Dow Jones Industrial Average added 1% to 42,762.87 while the Nasdaq gained 1.2%, to 19,529.95. Technology stocks, with their outsized values, led the broad gains. Chipmaker Nvidia jumped 1.2% and iPhone maker Apple rose 1.6%. Tesla rose 3.7%, regaining some of the big losses it suffered on Thursday when Trump and Musk sparred feverishly on social media. Circle Internet Group, the U.S.-based issuer of one of the most popular cryptocurrencies, rose 29.4%. That adds to its 168% gain from Thursday when it debuted on the New York Stock Exchange. U.S. employers slowed their hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump's trade war. The closely watched monthly update reaffirmed that the job market remains resilient, despite worries from businesses and consumers about the impact of tariffs on goods going to and coming from the U.S. and its most important trading partners. President Donald Trump's on-again-off-again tariffs continue to weigh on companies. Lululemon Athletica plunged 19.8% after the maker of yoga clothing cut its profit expectations late Thursday as it tries to offset the impact of tariffs while being buffeted by competition from start-up brands. Lululemon joins a wide range of companies, from retailers to airlines, that have warned investors about the potential hit to their revenue and profits because of tariffs raising costs and consumers potentially tightening their spending. Hopes that Trump will lower his tariffs after reaching trade deals with other countries are a main reason the S&P 500 has rallied back so furiously since dropping roughly 20% two months ago from an all-time high. The economy is absorbing the impact from tariffs on a wide range of goods from key trading partners, along with raw materials such as steel. Heavier tariffs could hit businesses and consumers in the coming months. The U.S. economy contracted during the first quarter. Recent surveys by the Institute for Supply Management, a trade group of purchasing managers, found that both American manufacturing and services businesses contracted last month. On Tuesday, the Organization for Economic Cooperation and Development forecast 1.6% growth for the U.S. economy this year, down from 2.8% last year. The uncertainty over tariffs and their economic impact has put the Federal Reserve in a delicate position.
