Markets
Nia Warfield, Luke Kawa

US stocks climb on trade optimism

Trade optimism fueled another day of gains for US stocks as President Donald Trump trumpeted a trade deal with the UK and raised the prospect of lower tariffs on China.

The S&P 500 rose 0.6%, the Nasdaq 100 rose 1%, and the Russell 2000 led the way with a 1.9% advance.

It was a clear risk-on day: industrials, materials, and energy were the best-performing S&P 500 sector ETFs, while defensive sectors real estate, utilities, consumer staples, and healthcare all fell.

The day’s gains were led by Axon Enterprise, Palantir, and Delta Air Lines. Match Group led the declines, falling 9% after the Tinder parent reported a drop in paid users and announced plans to cut 13% of its workforce.

Boeing climbed 3% following comments made by Commerce Secretary Howard Lutnick that the UK would soon announce a $10 billion order.

Coinbase rose 5% after the crypto trading platform signed a $2.9 billion deal to acquire Deribit, the largest bitcoin options platform, just hours before dropping earnings.

Speaking of earnings...

Quantum computing company D-Wave soared more than 50% after announcing record revenues, with CEO Dr. Alan Baratz optimistic on the outlook for future system sales.

Krispy Kreme shares plunged over 24% after the popular donut chain posted mixed Q1 results, scrapped its quarterly dividend, and hit pause on its McDonald’s partnership.

Nintendo shares sank after the Switch maker wrapped up a rough year on Thursday, reporting a 43% plunge in net profit and a 30% drop in revenue.

Peloton shares felt the burn, dipping nearly 7% after the fitness tech company reported its third straight year-over-year decline in sales in its Q3 results.

Crocs shares jumped nearly double digits after the quirky shoe brand posted a strong first-quarter beat but withdrew its full-year guidance as global trade pressures loom.

Tapestry shares popped almost 4% after the fashion conglomerate posted knockout Q3 results, seeing strong demand for its legacy leather handbag line, Coach.

Warner Bros. Discovery shares jumped nearly 5% after a report from CNBC said the company may split its traditional cable business from its popular streaming platforms.

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Luke Kawa
7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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markets
Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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