U.S. stocks rebounded on Friday, with the S&P 500 and Dow Jones Industrial Average both rising 1.4%, as better-than-expected inflation data eased concerns over interest rate cuts. Despite this, the market remains cautious amid political uncertainty and potential global trade challenges. Notable declines included U.S. Steel, down 4.9%, and Novo Nordisk, which fell 17% after disappointing news on a weight-loss treatment.
The stock market faced significant losses as major indexes fell below key levels, influenced by a less-dovish Fed rate outlook and rising Treasury yields. FedEx surged on plans to spin off its Freight business, while Micron Technology and Vertex Pharmaceuticals plummeted due to disappointing guidance and drug study results, respectively. Despite a weak performance from Nike and other companies, a tame inflation report provided some relief on Friday.
Wall Street faced volatility as the S&P 500 and Nasdaq marked their third consecutive day of losses, while the Dow ended a 10-day losing streak. FedEx surged 8.5% after a strategic spin-off, while Nike shares fell 6% amid a delayed turnaround plan. Novo Nordisk's obesity treatment trial results disappointed, causing its stock to drop, while Berkshire Hathaway increased its stake in Occidental Petroleum.
Stock futures narrowed losses following a better-than-expected inflation reading, with the Dow down 0.3% and the S&P 500 and Nasdaq down 0.5% and 0.8%, respectively. Large-cap tech stocks fell, with Nvidia, Apple, and Microsoft among the decliners, while Nike dropped 6% after its earnings report. FedEx shares surged over 8% after announcing plans to spin off its freight business, overshadowing a lowered outlook.
Dow Jones futures fell modestly after a Trump-backed bill to avoid a government shutdown failed, leading to a mixed close for major indexes. FedEx reported earnings that beat expectations but provided light guidance, while Nike's results were better than feared but also included weak guidance. Treasury yields continued to rise, posing challenges for the stock market rally, which struggled to maintain gains.
U.S. stock futures are rebounding after a recent selloff, with the Dow up 0.5% as it aims to end a 10-session losing streak. Micron Technology's stock plummets 12% on weak guidance, while bitcoin recovers above $100,000, boosting related stocks. Nike prepares to release its first earnings report under new CEO Elliott Hill, and FedEx is expected to show net income growth despite a slight revenue decline.
Nike (NKE) is preparing to report its Q2 results on Thursday, with investors keenly anticipating guidance and management commentary from new CEO Elliott Hill. UBS has outlined the top 10 questions that stakeholders are eager to have addressed during this upcoming announcement.
Nike (NKE) is preparing to report its Q2 results on Thursday, with investors keenly anticipating guidance and management commentary. UBS has outlined the top 10 questions for the new CEO, Elliott Hill, as the company navigates its upcoming financial disclosures.
UBS has maintained a "Neutral" rating for Nike, setting a price target of $80. Analyst Jay Sole has outlined ten key questions for new CEO Elliott Hill, focusing on areas requiring urgent strategic change following his initial two months in office.
UBS has maintained a 'Neutral' rating for Nike, setting a price target of $80. Analyst Jay Sole has outlined ten key questions for new CEO Elliott Hill, focusing on areas needing urgent strategic change following his initial months in office. Meanwhile, Morgan Stanley anticipates Nike will exceed quarterly earnings expectations, despite a below-average third-quarter guidance.
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