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Academy Sports Lifts Earnings Outlook Despite Pressure on Consumer Spending
US Markets

Academy Sports Lifts Earnings Outlook Despite Pressure on Consumer Spending

Academy Sports and Outdoors (ASO) raised its full-year earnings outlook on Wednesday even as the sporting goods retailer faced persistent pressure on consumer spending.The company now expects adjusted earnings between $6.50 and $6.90 per share for fiscal 2026, up from its previous guidance of $6.40 to $6.80. The consensus on FactSet is for non-GAAP EPS of $6.43.Academy Sports' shares popped 7.2% in Wednesday trade, reducing their year-to-date loss to 4.1%.The company continues to project sales of $6.23 billion to $6.36 billion and comparable sales to be flat to up 2% for the ongoing fiscal year. The Street is looking for sales of $6.31 billion and same-store sales growth of 0.8%.In a statement, Chief Executive Steve Lawrence acknowledged that consumer spending remained pressured, particularly among lower-income households.Truist Securities said Academy Sports faced a "tough" setup heading into second-quarter results due to its exposure to low and middle income consumers, according to a note emailed earlier in the week.In August, Academy Sports and Outdoors rival Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace. Last week, Lululemon Athletica (LULU) cut its fiscal 2026 guidance amid continued pressure on the brand.Academy Sports' adjusted EPS climbed 19% year over year to $2.31 for the three-month period ended Aug. 1, including a $0.06 net impact from tariff refunds. The average analyst estimate was for $2.07. Sales increased to $1.65 billion from nearly $1.6 billion, in line with the Street's view.Comparable sales edged down 0.4%, compared with an increase of 0.2% the year before. The market forecast had indicated a decrease of 0.2% in the 2026 second quarter.The company reported an $83.7 million benefit related to tariff refunds in the second quarter, of which $10.9 million were invested in pricing, according to an earnings presentation. Earlier this year, the US Supreme Court ruled that the Trump administration lacked authority under the International Emergency Economic Powers Act to impose certain tariffs, paving the way for refunds to companies that had paid the duties."We are reinvesting tariff-related benefits into value, expanding compelling new brands and categories, and accelerating initiatives across stores, omni-channel and loyalty," Lawrence said in the statement. "These actions are helping us gain market share, strengthen customer engagement and reinforce our confidence in achieving our fiscal 2026 sales and earnings objectives."Price: $47.92, Change: $+3.21, Percent Change: +7.17%

$ASO$DKS$LULU
Equities

S&P 500 Posts Slight Weekly Gain as Energy Climbs, Consumer Discretionary Weighs

The Standard & Poor's 500 index edged up 0.1% this week as gainers led by the energy sector barely outweighed decliners guided by consumer discretionary stocks.The S&P 500 ended Friday's session at 7,718.60. On Monday, the index concluded August with a 2.6% monthly gain. It's up nearly 13% for the year.August jobs data showed the economy added almost triple the positions expected last month. Nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, compared with a 55,000 increase projected in a Bloomberg-compiled survey.Bets rose for a September rate increase by the Federal Reserve's Federal Open Market Committee following the jobs report. As of Friday, markets were pricing in a 58% probability that the FOMC will raise its benchmark lending rate on Sept. 16, up from 49% on Thursday, according to the CME FedWatch tool.The energy sector had the largest percentage gain this week, up 2.3%, followed by a 1.1% rise in technology and a 0.7% increase in utilities. Health care also edged higher.The climb in the energy sector came as crude oil futures also rose on the week. Gainers in the sector included Marathon Petroleum (MPC), up 5.4% on the week, and Valero Energy (VLO), up 5.2%. Both stocks received boosts to their price targets this week from analysts as Piper Sandler and Wells Fargo.Top gainers in the technology sector included Dell Technologies (DELL), which rose 15%. The company's fiscal second-quarter results beat Wall Street's estimates, driven by record artificial intelligence server demand. Dell also lifted its full-year outlook.On the downside, consumer discretionary fell 2.1%, followed by a 1.6% drop in materials, a 1.3% loss in real estate and a 1.1% decline in industrials. Consumer staples, communication services and financials also moved lower.The consumer discretionary sector's decliners were led by Lululemon Athletica (LULU), whose shares shed 17%. The athletic apparel retailer reported weaker-than-expected fiscal Q2 revenue and cut its full-year outlook.The US stock market will be closed on Monday for Labor Day.Oracle (ORCL), Adobe (ADBE), Kroger (KR) and Macy's (M) are among the companies expected to release quarterly results later in the week.Economic data will include the August consumer price index and producer price index.

Dow JonesNasdaq CompositeS&P 500$DELL$LULU$MPC$VLO
Update: Wall Street Wraps Mixed Week in Red Following Strong Jobs Report
US Markets

Update: Wall Street Wraps Mixed Week in Red Following Strong Jobs Report

(Updates with market moves at the end of the day, and other changes, if any.)US stocks fell Friday to cap a mixed week on Wall Street as strong jobs data raised the odds of an interest rate hike later this month.The Dow Jones Industrial Average declined 0.5% to close at 53,414.25, while the S&P 500 dipped 0.4% to 7,718.60. The Nasdaq Composite dropped 0.3% to 26,506.99. Most sectors ended in the red, led by consumer discretionary, while industrials paced the gainers.US markets will be closed on Monday for the Labor Day holiday.This week, the Dow lost 0.3%, while the Nasdaq and the S&P 500 gained 0.4% and 0.1%, respectively.Total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, nearly triple the 55,000 increase projected in a Bloomberg-compiled survey. July's tally was revised to show a gain of 21,000 from a 23,000 fall.The jobs report comes as the Federal Reserve weighs labor market conditions and inflation expectations ahead of its policy meeting later this month. Fed Chair Kevin Warsh said late last month that the US economy was "doing well" on employment, describing inflation numbers as more concerning.Markets are pricing in a 58% probability that the Federal Open Market Committee will raise its benchmark lending rate on Sept. 16, up from 49% on Thursday, according to the CME FedWatch tool."The labor market strength and resilience evident in the August employment report with upward job revisions over the past two months nearly wipe away the narrative of labor market deterioration over the summer," BMO Chief US Economist Scott Anderson said in a note."The report adds important weight to the hawks' argument that inflation may not moderate back toward the Fed's 2% target in a timely manner without at least a nudge up in interest rates to help cool aggregate demand."Fed Governor Christopher Waller said Thursday he would support keeping interest rates steady if further signs of disinflation emerge, though he seemed willing to tighten monetary policy if price pressures intensify.Diesel prices in the US reached an all-time high on Friday amid crude supply disruptions, likely adding to concerns around sticky inflation.Treasury yields were higher, with the two-year rate rising 4.3 basis points to 4.38% and the 10-year rate up 2.2 basis points at 4.78%.West Texas Intermediate crude oil was up 0.1% at $91.37 a barrel in Friday late-afternoon trade, while Brent rose 0.5% to $96. The benchmarks were on track for weekly gains of 9.3% and 8.8%, respectively.In company news, Lululemon (LULU) shares tanked 17%, the worst performer on the S&P 500, as the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.UiPath (PATH) slid nearly 17% after the software company released its latest quarterly results late Thursday.Zscaler (ZS) fell 4.5% even as the cloud security company reported fiscal fourth-quarter results above Wall Street's consensus and outlined a strong full-year outlook. The company's guidance is conservative and reflects factors including an expected loss of Red Canary's customers and the competitive artificial intelligence security environment, Oppenheimer said in a note.Adobe (ADBE) slumped 6.7%, among the steepest declines on the S&P 500, after the company named insider Anil Chakravarthy as its next chief executive, succeeding Shantanu Narayen, who will become executive chair. Chakravarthy's appointment could lead to strategic messaging around the company's experience cloud business, RBC Capital Markets said in a note.Bucking the market's downward trend, tech-related stocks rose, with SanDisk (SNDK) up nearly 12%, the biggest gain on the S&P 500. Marvell Technology (MRVL), Micron Technology (MU) and Western Digital (WDC) also advanced.Spot gold was 0.9% lower at $4,431.29 per troy ounce, while silver lost 1.3% to $66.82 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADBE$LULU$MRVL$MU$PATH$SNDK$WDC$ZS
Asia Markets

Update: US Equity Indexes Fall as Odds for September Fed Rate Increase Jump After Strong Nonfarm Payrolls

(Updates with index/price moves, comments and company/geopolitical news from the first paragraph.)US equity indexes retreated as markets increasingly priced in an interest rate increase as early as this month after the economy added almost triple the number of jobs expected in August.The Nasdaq Composite fell 0.3% to 26,506.99, the S&P 500 slid 0.4% to 7,718.60, and the Dow Jones Industrial Average backtracked 0.5% to 53,414.25 on Friday. All sectors except industrials, technology and utilities fell. Consumer discretionary, communication services and healthcare were among top decliners.Total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, compared with a 55,000 increase projected in a Bloomberg-compiled survey. July's tally was revised to show a gain of 21,000 from a 23,000 fall, while June's increase was adjusted upward by 11,000."This is the strongest pace of job expansion in five months, punctuated by also being three times greater than expected and the positive upward revisions to prior months," said Thomas Feltmate, senior economist at TD Economics. "On balance, we like the breadth and depth of this jobs report. Markets have taken note too."The probability of the Federal Reserve raising its target rate by 25 basis points to 3.75%-4.0% in September jumped to 58% after midday from 49% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold."The [Consumer Price Index] for August (next Friday) is likely to be a significant input into the September policy decision," a Macquarie note said. "If this is strong, it will likely solidify a hike this month. In contrast, soft data could lead the [Federal Open Market Committee] to defer a hike to October or December."President Donald Trump called on the Fed to lower interest rates, saying the US economy is a stronger credit than it was previously. In a post on Truth Social, Trump said job growth exceeded estimates and argued that a "strong country means a lower interest rate." Trump urged the Fed to adopt the world's "lowest rate," warning he could halt trade with countries with which the US maintains trade deficits.Most US Treasury yields rose, with the two-year up 4.3 basis points to 4.38%. The 10-year yield advanced 2.2 basis points to 4.78%.Gold futures dropped 1.3% to $4,480.8, and silver futures declined 1.4% to $66.80.In company news, Lululemon Athletica (LULU) reported softer-than-planned fiscal Q2 results and lowered its fiscal 2026 guidance again, prompting a cautious stance on the stock, as the delayed start of incoming CEO Heidi O'Neill leaves the company a "rudderless ship" and risks further competitive disintermediation amid deteriorating macro conditions, Oppenheimer said Friday. Shares sank 17%, the worst performer on the S&P 500.Apple's (AAPL) initial production of its long-awaited foldable iPhone is limited to a few hundred units per day, mainly because of stringent quality-control requirements, Nikkei Asia reported Friday, citing unnamed sources. Shares dropped 2.5%, the Dow's worst performer.US President Donald Trump said he may order strikes on Iran's Pickaxe Mountain, reported to host nuclear facilities, "very soon," Al Jazeera, a Middle Eastern broadcaster, reported.US State Department spokesperson Thomas Pigott said Washington "remains committed" to cutting off Iran's access to the global finance system and preventing Tehran from "threatening" regional stability. The statement comes hours after the Treasury Department added Turkiye's Golden Global Bank to a long list of sanctioned entities it says are working with Iran.The front-month US West Texas Intermediate crude oil contract was little changed at $91.32 per barrel, and global benchmark North Sea Brent rose 0.5% to $96.00 per barrel.

Dow JonesNasdaq CompositeS&P 500$AAPL$LULU
Japan

US Equity Markets End Lower as Expectations Rise for Fed Rate Hike Amid Hot Jobs Data

US equity indexes ended lower Friday after expectations of an interest rate hike increased following an unexpected increase in non-farm payrolls.* Total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, compared with a 55,000 increase projected in a Bloomberg-compiled survey.* The probability of the Fed raising its target rate by 25 basis points to 3.75% to 4.0% in September rose to 58% from 49% a day ago, according to the CME FedWatch tool.* October West Texas Intermediate crude oil rose $0.57 to settle at $91.58 per barrel, while November Brent crude, the global benchmark, was last seen up $0.07 at $95.70.* American Outdoor Brands (AOUT) shares were up roughly 45% after the company swung to a profit and posted higher revenue for fiscal Q1 late Thursday.* Lululemon Athletica (LULU) shares were down nearly 17%, the worst performer on the S&P 500, after the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.

Dow JonesNasdaq CompositeS&P 500$AOUT$LULU
Sectors

Sector Update: Consumer Stocks Fall Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.3%.In sector news, President Donald Trump said Friday in the Oval Office he is creating a program through which ranchers and farmers can "process their own food," Bloomberg reported. The president said he would sign an executive order to create the initiative, the report said.In corporate news, Lululemon Athletica (LULU) shares were falling past 17% after the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.Tesla (TSLA) Cybercab is under investigation over its process to claim compliance with federal vehicle safety standards, the National Highway Traffic Safety Administration said Thursday. Tesla began commercial use of a small number of Cybercabs in Austin, Texas, but the vehicles lack permanently attached conventional manual controls, the agency said. Tesla shares were down 5.7%.American Outdoor Brands (AOUT) shares surged 41% after it swung to a profit and posted higher revenue for fiscal Q1 late Thursday.Stanley Black & Decker (SWK) shares added 0.9% after it said Friday it has agreed to sell its Excel Industries business to Bad Boy Mowers. Excel is expected to generate about $300 million revenue in 2026, Stanley said.Stellantis (STLA) is in talks with China's Huawei and JAC Group for long-term industrial cooperation on its luxury brand Maserati, Reuters reported. Italian daily Milano Finanza first reported the talks Friday, saying that the discussions were at an advanced stage and centered on using Huawei's Harmony Intelligent Mobility platform for Maserati, the report said. Stellantis shares were up 1.4%.

$AOUT$LULU$STLA$SWK$TSLA
Wire

lululemon athletica Earnings Face Downside Risk in Next 12 Months, UBS Says

lululemon athletica (LULU) earnings are skewed toward "big downside" and "little upside" risk in the next 12 months as the sportswear retailer faces challenges in its core business, UBS said Friday.The brokerage said in a note that lululemon's products are not resonating with consumers, while store traffic remains weak. A turnaround is not expected anytime soon, as its new Chief Executive Heidi O'Neill does not start until next week, it added.UBS lowered its fiscal 2026 to fiscal 2028 EPS estimates by 12% to 15%, respectively, and cut its sales growth forecasts due to worsening global sales trends.A pullback in the company's stock following a "disappointing" Q2 results and a reduced outlook does not represent a good buying opportunity, the firm added.UBS maintained a neutral rating and cut its price target to $106 from $120.Price: $100.35, Change: $-21.42, Percent Change: -17.59%

$LULU
Update: Equities Fall Intraday as Jobs Report Lifts Rate Hike Bets
US Markets

Update: Equities Fall Intraday as Jobs Report Lifts Rate Hike Bets

(Updates with latest market prices and developments.)US benchmark equity indexes fell intraday as a stronger-than-expected August jobs report boosted the odds of the Federal Reserve raising interest rates as early as this month.The Dow Jones Industrial Average was down 0.5% at 53,412.4 after midday Friday. The S&P 500 and the Nasdaq Composite lost 0.3% each to 7,721.2 and 26,506.9, respectively.Most sectors were in the red intraday Friday, led by consumer discretionary, while industrials paced the gainers.Total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, nearly triple the 55,000 increase projected in a Bloomberg-compiled survey. July's tally was revised to show a gain of 21,000 from a 23,000 fall.The jobs report comes as the Federal Reserve weighs labor-market conditions and inflation expectations ahead of its policy meeting later this month. Fed Chair Kevin Warsh said late last month that the US economy was "doing well" on employment, describing inflation numbers as more concerning.Markets are pricing in a 58% probability that the Federal Open Market Committee will raise its benchmark lending rate on Sept. 16, up from 49% on Thursday, according to the CME FedWatch tool."The labor market strength and resilience evident in the August employment report with upward job revisions over the past two months nearly wipe away the narrative of labor market deterioration over the summer," BMO Chief US Economist Scott Anderson said in a note."The report adds important weight to the hawks' argument that inflation may not moderate back toward the Fed's 2.0% target in a timely manner without at least a nudge up in interest rates to help cool aggregate demand."Fed Governor Christopher Waller said Thursday he would support keeping interest rates steady if further signs of disinflation emerge, though he seemed willing to tighten monetary policy if price pressures intensify.Treasury yields were higher intraday, with the two-year rate rising 3.6 basis points to 4.37% and the 10-year rate up 0.6 basis point at 4.77%.West Texas Intermediate crude oil was little changed at $91.29 a barrel, while Brent rose 0.6% to $96.06. The benchmarks were on track for weekly gains.In company news, Lululemon (LULU) shares tanked 17% intraday, the worst performer on the S&P 500, as the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.UiPath (PATH) slid 17% after the software company released its latest quarterly results late Thursday.Zscaler (ZS) fell 4.9% even as the cloud security company reported fiscal fourth-quarter results above Wall Street's consensus and outlined a strong full-year outlook. The company's guidance is conservative and reflects factors including an expected loss of Red Canary's customers and the competitive artificial intelligence security environment, Oppenheimer said in a note.Bucking the market's downward trend, tech-related stocks were higher intraday, with SanDisk (SNDK) up 11%, the biggest gain on the S&P 500. Super Micro Computer (SMCI), Marvell Technology (MRVL) and Western Digital (WDC) also advanced.Spot gold was 0.8% lower at $4,435.64 per troy ounce, while silver lost 1.3% to $66.81 per ounce.

Dow JonesNasdaq CompositeS&P 500$LULU$MRVL$PATH$SMCI$SNDK$WDC$ZS
Sectors

Sector Update: Consumer Stocks Fall Friday Afternoon

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.5%.In corporate news, Lululemon Athletica (LULU) shares were falling past 17% after the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.Tesla (TSLA) Cybercab is under investigation over its process to claim compliance with federal vehicle safety standards, the National Highway Traffic Safety Administration said Thursday. Tesla began commercial use of a small number of Cybercabs in Austin, Texas, but the vehicles lack permanently attached conventional manual controls, the agency said. Tesla shares were down 6.3.%.American Outdoor Brands (AOUT) shares surged 43% after it swung to a profit and posted higher revenue for fiscal Q1 late Thursday.

$AOUT$LULU$TSLA
Wire

Top Midday Decliners

Guidewire Software's (GWRE) fiscal 2027 outlook disappointed amid elevated expectations after its strong fiscal Q4 results, RBC Capital Markets said in a Friday note.Shares sank 20.8%, as intraday trading volume jumped to about 2.5 million from the stock's daily average of roughly 1.54 million.Lululemon Athletica (LULU) reported softer-than-planned fiscal Q2 results and lowered its fiscal 2026 guidance again, prompting a cautious stance on the stock, as the delayed start of incoming CEO Heidi O'Neill leaves the company a "rudderless ship" and risks further competitive disintermediation amid deteriorating macro conditions, Oppenheimer said Friday.Shares slumped 17% as intraday trading volume catapulted to over 28.3 million from a daily average of nearly 3.7 million.Tesla (TSLA) shares dropped 6.3% after the US National Highway Traffic Safety Administration said the company's Cybercab is under investigation over the process used to claim compliance with federal vehicle safety standards.Over 45.3 million shares traded intraday versus a daily average of roughly 41.8 million.Price: $160.64, Change: $-42.23, Percent Change: -20.81%

$GWRE$LULU$TSLA
Sectors

Sector Update: Consumer

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.4%.In corporate news, Lululemon Athletica (LULU) shares were falling past 17% after the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.

$LULU
Asia Markets

Update: US Equity Indexes Fall as September Fed Rate Increase Odds Surge Following Strong Jobs Report

(Updates with index/price moves, economist comments and company/geopolitical news from the first paragraph.)US equity indexes fell as market expectations of an interest rate increase as early as this month jumped after the economy added almost triple the jobs expected in August.The Nasdaq Composite declined 0.2% to 26,540.1, the S&P 500 retreated 0.3% to 7,726.2, and the Dow Jones Industrial Average declined 0.5% to 53,421.3 after midday Friday. All sectors except industrials and technology fell. Consumer discretionary, communication services and healthcare led decliners.Total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, compared with a 55,000 increase projected in a Bloomberg-compiled survey. July's tally was revised to show a gain of 21,000 from a 23,000 fall, while June's increase was adjusted upward by 11,000."This is the strongest pace of job expansion in five months, punctuated by also being three times greater than expected and the positive upward revisions to prior months," said Thomas Feltmate, senior economist at TD Economics. "On balance, we like the breadth and depth of this jobs report. Markets have taken note too."The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September jumped to 60% after midday from 49% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.President Donald Trump called on the Federal Reserve to lower interest rates, saying the US economy is a stronger credit than it was previously. In a post on Truth Social, Trump said job growth exceeded estimates and argued that a "strong country means a lower interest rate." Trump urged the Fed to adopt the world's "lowest rate," warning he could halt trade with countries with which the US maintains trade deficits.Most US Treasury yields rose, with the two-year up three basis points to 4.36%. The 10-year yield was unchanged at 4.77%.Gold futures dropped 1.4% to $4,478.2, and silver futures declined 1.5% to $66.65.In company news, Lululemon Athletica (LULU) reported softer-than-planned fiscal Q2 results and lowered its fiscal 2026 guidance again, prompting a cautious stance on the stock, as the delayed start of incoming CEO Heidi O'Neill leaves the company a "rudderless ship" and risks further competitive disintermediation amid deteriorating macro conditions, Oppenheimer said Friday. Shares sank 18%, the worst performer on the S&P 500.Apple's (AAPL) initial production of its long-awaited foldable iPhone is limited to a few hundred units per day, mainly because of stringent quality-control requirements, Nikkei Asia reported Friday, citing unnamed sources. Shares dropped 2.3%, the Dow's worst performer.US Vice President JD Vance said the US will investigate the strike on an Iranian wedding party in Kuhestak, Al Jazeera, a Middle Eastern broadcaster, reported. The US has changed Tehran's calculations, Iran's first vice president said while warning its response to US attacks will be "asymmetrical" and "multi-layered," according to the news report.The front-month US West Texas Intermediate crude oil contract declined 0.8% to $90.61 per barrel, and global benchmark North Sea Brent slipped 0.1% to $95.41 per barrel.

Dow JonesNasdaq CompositeS&P 500$AAPL$LULU
Japan

Update: US Equity Indexes Fall as Robust Jobs Report Lifts Odds of September Fed Rate Increase

(Updates with index/price moves, macroeconomic data and company news from the first paragraph.)US equity indexes fell after the economy added almost triple the jobs expected in August, boosting bets favoring an interest rate increase as early as this month.The Nasdaq Composite declined 0.2% to 26,540.1, the S&P 500 retreated 0.3% to 7,726.2, and the Dow Jones Industrial Average declined 0.5% to 53,421.3 after midday Friday.Total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, compared with a 55,000 increase projected in a Bloomberg-compiled survey. July's tally was revised to show a gain of 21,000 from a 23,000 fall, while June's increase was adjusted upward by 11,000.The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September jumped to 60% after midday from 49% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.President Donald Trump called on the Federal Reserve to lower interest rates, saying the US economy is a stronger credit than it was previously. In a post on Truth Social, Trump said job growth exceeded estimates and argued that a "strong country means a lower interest rate."In company news, Lululemon Athletica (LULU) reported softer-than-planned fiscal Q2 results and lowered its fiscal 2026 guidance again, prompting a cautious stance on the stock, as the delayed start of incoming CEO Heidi O'Neill leaves the company a "rudderless ship" and risks further competitive disintermediation amid deteriorating macro conditions, Oppenheimer said Friday. Shares sank 18%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$LULU
Wire

Top Midday Stories: Stocks Fall After Stronger-Than-Expected August Jobs Report; Lululemon Q2 Revenue Miss, Guidance Cut

All three major US stock indexes were down on Friday after a strong August jobs report increased expectations that the Federal Reserve could raise interest rates at the next Federal Open Market Committee meeting.Nonfarm payrolls jumped by 162,000, above the 55,000-job increase expected in a survey compiled by Bloomberg as of 7:15 am ET, while July payrolls were revised upward to a 21,000-job increase and June payrolls were revised upward to a 31,000-job increase. The unemployment rate remained at 4.1%, as expected, while the labor force participation rate rose to 61.6% from 61.4% in July.In company news, Lululemon Athletica (LULU) reported fiscal Q2 earnings late Thursday of $2.92 per diluted share, down from $3.10 a year earlier but above the FactSet consensus analyst estimate of $1.79. Fiscal Q2 revenue was $2.42 billion, down from $2.53 billion a year ago and below the FactSet consensus of $2.46 billion. For Q3, the company expects EPS of $0.93 to $0.98 on revenue of $2.29 billion to $2.32 billion. Analysts polled by FactSet expect $2.40 and $2.53 billion, respectively. For fiscal 2026, the retailer expects EPS of $9.48 to $9.73 on revenue of $10.35 billion to $10.50 billion, below its previous guidance calling for EPS of $10.95 to $11.15 and revenue of $11 billion to $11.15 billion. Analysts expect $10.84 and $11.03 billion, respectively. Lululemon shares were down 17.9% around midday.Jason Mehring was appointed as chief executive and chair of BlackRock (BLK) Private Credit Fund, BlackRock Direct Lending and BlackRock TCP Capital, starting Sept. 2, following the resignation of Philip Tseng from the posts on Aug. 31, the company said Friday in a regulatory filing. Mehring previously served as president of the direct lending division and TCP Capital, the filing said. In addition, Dan Worrell was appointed as president of the private credit fund after previously serving as co-chief investment officer, the filing said. BlackRock shares were down 0.4%.Tesla (TSLA) Cybercab is under investigation over its process to claim compliance with federal vehicle safety standards, the National Highway Traffic Safety Administration said Thursday. Tesla began commercial use of a small number of Cybercabs in Austin, Texas, but the vehicles lack permanently attached conventional manual controls, the agency said. Tesla shares were down 6.4%.Equifax (EFX), Experian and TransUnion (TRU) "have been overcharging Americans for far too long," Federal Housing Finance Agency Director Bill Pulte said late Thursday on X, adding that his agency is considering solutions to prevent the companies from taking advantage of American consumers. Equifax and TransUnion shares were down 6.8% and 7.5%, respectively.Price: $99.94, Change: $-21.83, Percent Change: -17.92%

$BLK$EFX$LULU$TRU$TSLA
Wire

Lululemon's Soft Fiscal Q2, Lowered 2026 Outlook Prompt Caution, Oppenheimer Says

Lululemon Athletica (LULU) reported softer-than-planned fiscal Q2 results and lowered its fiscal 2026 guidance again, prompting a cautious stance on the stock, as the delayed start of incoming CEO Heidi O'Neill leaves the company a "rudderless ship" and risks further competitive disintermediation amid deteriorating macro conditions, Oppenheimer said Friday.Underlying fiscal Q2 results and management's more downbeat tone toward the rest of the fiscal year proved weaker than Oppenheimer's already dampened expectations, according to the note.While recent data points to a more challenging macro backdrop impacting sales growth across the athleisure industry, the brokerage believes the incremental top- and bottom-line weakness at Lululemon is primarily due to internal missteps in merchandising and marketing, the note added.Management noted that demand in North America was even softer in August and expects fiscal Q3 comparable sales in the region to decline at a mid-teens rate, versus a 12% decline in fiscal Q2, the brokerage said.Revised fiscal 2026 guidance for adjusted EPS of $8.62 to $8.87 compares with expectations at the beginning of the year for earnings of $12.10 to $12.30, a decline of nearly 30%, the brokerage added.Oppenheimer kept a perform rating on Lululemon Athletica.Shares of Lululemon Athletica were down approximately 18% in Friday trading.Price: $99.61, Change: $-22.17, Percent Change: -18.20%

$LULU
Wire

BofA Securities Adjusts Price Target on Lululemon Athletica to $122 From $140, Maintains Neutral Rating

Lululemon Athletica (LULU) has an average rating of hold and mean price target of $106.74, according to analysts polled by FactSet.Price: $101.45, Change: $-20.32, Percent Change: -16.69%

$LULU
Wire

Barclays Adjusts lululemon athletica Price Target to $95 From $113, Maintains Equal Weight Rating

lululemon athletica (LULU) has an average rating of hold and mean price target of $106.74, according to analysts polled by FactSet.Price: $101.08, Change: $-20.70, Percent Change: -17.00%

$LULU
Sectors

Sector Update: Consumer Stocks Decline Premarket Friday

Consumer stocks were declining premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.8%.Lululemon Athletica (LULU) stock was down more than 19% after the company posted lower fiscal Q2 earnings and revenue, and cut its fiscal 2026 outlook.Mama's Creations (MAMA) shares were up more than 8% after the company reported higher Q2 earnings and revenue.American Outdoor Brands (AOUT) stock rose past 27% after the company reported that it swung to fiscal Q1 non-GAAP earnings amid higher revenue.

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Stocks Mostly Down Pre-Bell After Strong Jobs Report
US Markets

Stocks Mostly Down Pre-Bell After Strong Jobs Report

US equity markets were mostly tracking lower before the opening bell Friday as investors parsed a stronger-than-expected jobs report for August.The S&P 500 fell 0.2% and the Dow Jones Industrial Average declined 0.3% in premarket activity. Nasdaq Composite futures were up 0.1%.The three indexes finished the previous trading session higher, with the Dow and the S&P 500 posting their biggest single-day percentage gains in more than four weeks.Total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, nearly triple the 55,000 increase projected in a Bloomberg-compiled survey. July's tally was revised to a gain of 21,000 from a fall of 23,000.The jobs report comes as the Federal Reserve weighs labor-market conditions and inflation expectations ahead of its policy meeting later this month. Fed Chair Kevin Warsh said late last month that the US economy was "doing well" on employment, describing inflation numbers as more concerning.Markets are pricing in a 58% probability that the Federal Open Market Committee will raise its benchmark lending rate at its September meeting, according to the CME FedWatch tool.Fed Governor Christopher Waller said Thursday he would support keeping interest rates steady if further signs of disinflation emerge, though he seemed willing to tighten monetary policy if price pressures intensify.West Texas Intermediate crude oil slipped 0.5% to $90.83 a barrel, while Brent inched 0.3% lower to $95.21.Treasury yields were higher, with the two-year rate rising 5.7 basis points to 4.393% and the 10-year rate increasing 2.6 basis points to 4.786%.Lululemon (LULU) shares tanked about 20% early Friday as the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.UiPath (PATH) fell 11% after the software company released its latest quarterly results late Thursday.Spot gold was 1.9% lower at $4,388.89 per troy ounce.

Dow JonesNasdaq CompositeS&P 500$LULU$PATH
Sectors

Sector Update: Consumer

Consumer stocks were falling premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.7%.Lululemon Athletica (LULU) stock was down nearly 20% after the company posted lower fiscal Q2 earnings and revenue, and cut its fiscal 2026 outlook.

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