$NKE

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Crocs Issues Downbeat Third-Quarter Earnings Outlook Following Second-Quarter Beat

Crocs (CROX) shares were slumping Thursday after the footwear maker issued a downbeat third-quarter earnings guidance, while its second-quarter results topped Wall Street's estimates.For the ongoing quarter, the company expects adjusted earnings of $3.20 to $3.30 a share, below the FactSet-polled consensus of $3.49. It projects third-quarter revenue to be roughly flat on an annual basis, at recent currency rates.Crocs shares were down 8.5% in afternoon trade, trimming its year-to-date gains to 43%.The company will implement a "business model change" with one of its largest marketplace partners starting in the ongoing quarter that will impact how the company recognizes Crocs brand North America revenue between its direct-to-consumer and wholesale channels, Chief Financial Officer Patraic Reagan said on an earnings call, according to a FactSet transcript."The net of these revenue shifts will be lower overall revenue," Reagan told analysts. "We will see an improvement to operating profit."For the June quarter, non-GAAP EPS rose to $4.55 from $4.23 a year earlier, surpassing the Street's views for $4.35. Revenue grew 2.6% to $1.18 billion, also exceeding the $1.15 billion modeled by analysts.The company saw "record enterprise revenue, including the Crocs brand surpassing $1 billion in quarterly revenue for the first time ever," Chief Executive Andrew Rees said in an earnings release. "Our results reflect broad consumer demand across both brands, healthy direct-to-consumer growth, and strong consumer response to new product innovation."For the full year, Crocs now expects adjusted EPS between $13.70 and $14, compared with its previous outlook range of $13.20 to $13.75. The company is now guiding for 2026 revenue to be up 1% to 2%, compared with the prior guidance of down 1% to up 1%. The Street is projecting non-GAAP EPS of $13.73.Last month, Nike's (NKE) fiscal fourth-quarter revenue fell year over year, while the sportswear company's earnings got a boost from expected tariff refunds.Crocs' board recently approved a $1.5 billion increase to its share buyback authorization, making roughly $2 billion available for repurchases.Price: $122.34, Change: $-11.18, Percent Change: -8.37%

$CROX$NKE

US Markets1d ago

VF Shares Tumble After Reporting Wider-Than-Expected Fiscal First-Quarter Loss

VF (VFC) shares fell sharply Wednesday after the apparel and footwear company reported a wider-than-expected fiscal first-quarter loss despite topping Wall Street's revenue estimates.VF shares were down 17% in recent Wednesday trading and have fallen about 16% this year.The company's adjusted loss widened to $0.27 per share in the quarter ended June 27 from $0.24 a year earlier. The FactSet-polled consensus was for a non-GAAP loss of $0.22 per share.Revenue fell 5.1% to $1.67 billion but still topped the Street's view of $1.64 billion. Sales for The North Face and Timberland increased 6% and 4%, respectively, year over year, while Vans' revenue fell 8% as a drop in wholesale volumes offset growth in direct-to-consumer business in America."We began signaling a few quarters ago that the (Vans) business would turn around first in DTC, then wholesale. And that's exactly what continues to happen," Chief Executive Bracken Darrell said in prepared remarks. "We expected to be a little bit better in (first quarter) than we were, but this quarter doesn't at all change our indication of what we will see for the full year."The company raised its fiscal 2027 revenue guidance, now expecting constant-currency growth of 2% or better from fiscal 2026 revenue of $9.61 billion. It previously expected a 1% to 2% gain. Analysts estimate fiscal 2027 revenue of $9.48 billion."For The North Face and Timberland, we expect the full year to be in line with their respective growth rates from last year, plus or minus a point or two on either side. For Vans, we continue to expect revenue trends to improve relative to last fiscal year, down mid-single digits," Chief Operating Officer Abhishek Dalmia said.Truist Securities noted that despite growing momentum on TikTok for Vans' Pearlized and Souvenir Old Skool styles along with its Knu Skool collaboration with BAPE, "we still haven't seen a positive inflection for the broader assortment overall.""(We) believe that investors may be overly optimistic on (long-term) profitability improvements due to (near-term) tariff-refund related benefits," Truist said. The brokerage added that VF's fiscal 2027 margin guidance includes an estimated $41 million net boost from one-time tariff refunds, and many investors have misinterpreted the disclosures, viewing the outlook as sustainable run-rate profitability.The company named Dalmia as its and chief financial officer, effective Aug. 1. He succeeds Paul Vogel, who will step down to serve in an advisory role to assist with the transition.Elsewhere in the apparel sector, Nike (NKE) reported a fiscal fourth-quarter revenue beat on June 30, while Levi Strauss (LEVI) raised its full-year outlook earlier in the month as second-quarter results topped analysts' estimates.Price: $15.14, Change: $-3.12, Percent Change: -17.07%

$LEVI$NKE$VFC

Wire8d ago

Nike's Turnaround Challenged by Shift Toward Sports Collectibles, UBS Says,

Nike (NKE) faces a fresh challenge in its turnaround as younger consumers increasingly shift their attention and spending toward sports trading cards and memorabilia and away from limited-edition sneakers, UBS Securities said Tuesday in a report.The sports-collectibles market rose 55% to $32.5 billion in 2025 from $21 billion in 2020, with trading cards representing the largest category, the report said. Collectibles may be absorbing some of the "cultural and financial" appeal that previously benefited Nike and Jordan sneakers, UBS said.That shift may weaken Nike's connection with "sneakerheads," long a core group of brand advocates, the report said. US secondary-market prices for Nike sneakers in June fell 1.7% from a year earlier, reflecting "lackluster" demand, UBS said.Collectibles may offer Nike a path to regain "cultural relevance," potentially through partnerships with trading-card companies, athletes and sports leagues, or by bundling exclusive Nike and Jordan cards with sneaker purchases to spark consumer "excitement," the report said.UBS has a neutral rating on Nike with a price target of $48.Price: $41.97, Change: $-0.99, Percent Change: -2.30%

$NKE

Wire8d ago

Nike to Terminate Online Distribution Deals in China

Nike (NKE) will terminate its online distribution deals in China under a new digital strategy, according to statements from the company and distributors Pou Sheng International and Topsports International.Beginning Jan. 1, 2027, Nike said Tuesday that its digital marketplace in China will be anchored by official products on Tmall, JD.com and Douyin, alongside Nike.com.cn and the Nike App.The company said that as part of its new strategy, with some exceptions, partner-operated online storefronts will transition out of selling Nike products.In separate regulatory filings Wednesday, Pou Sheng and Topsports said they have received notices from Nike, informing them that online sales of Nike's products in mainland China through their retail chains will be terminated, effective Jan. 1.Shares of Nike were down 3% in Wednesday trading.Price: $41.68, Change: $-1.29, Percent Change: -2.99%

$NKE

Wire8d ago

Nike to End Online Distribution Deals in China, Bloomberg Reports

$NKE

Sectors8d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Wednesday

Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) marginally declining.Philip Morris International (PM) shares were down more than 1% after the company issued Q3 adjusted EPS outlook below analysts' expectations and cut its 2026 adjusted EPS guidance.Cal-Maine Foods (CALM) stock was down more than 7% after the company reported that it swung to a fiscal Q4 loss as net sales fell during the period.Nike (NKE), facing flagging revenue in China, will in January halt online sales of company products on certain retailer and wholesaler platforms, and bring internet sales and marketing in-house, Reuters reported. Nike shares were 1% lower premarket.

$CALM$NKE$PM$XLP$XLY

Wire21d ago

Bernstein Adjusts Price Target on NIKE to $72 From $80

NIKE (NKE) has an average rating of overweight and mean price target of $50.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $42.58, Change: $-0.31, Percent Change: -0.73%

$NKE

US Markets28d ago

American Eagle Outfitters Names Papa John's Finance Chief as New CFO

American Eagle Outfitters (AEO) named Papa John's International (PZZA) Chief Financial Officer Ravi Thanawala as its finance chief, succeeding Mike Mathias, who will transition to a strategic advisory role.Thanawala will assume the role effective Aug. 3, the clothing retailer said late Wednesday. Mathias, who has served with the company for 25 years, will become a full-time non-executive strategic advisor to American Eagle Chief Executive Jay Schottenstein."We are pleased to welcome Ravi Thanawala to the executive team," Schottenstein said in a statement. "His extensive retail background, dynamic leadership style and proven track record of delivering operational excellence for consumer-facing brands will position us well for long-term success."Mathias will collaborate closely with Thanawala through the rest of American Eagle's 2026 fiscal year and continue supporting Schottenstein through July 30, 2027.Before joining Papa John's in 2023, Thanawala served as CFO of Nike (NKE) North America and previously held finance leadership positions at Converse and ANN. Thanawala also served as Papa John's interim CEO from March 2024 to August 2024.In a separate statement, Papa John's said Chris Collins, senior vice president of corporate finance, has been appointed interim chief financial officer, effective immediately.The pizza chain has begun a search for a permanent CFO, while Thanawala will remain in an advisory capacity through July 31 to support a smooth transition.Shares of Papa John's edged down 0.2% in the most recent premarket activity, while American Eagle declined 1%."Chris is a proven finance leader with deep knowledge of the company and the opportunities we are pursuing to maximize shareholder value," Papa John's CEO Todd Penegor said. "I am confident that Chris's support in this interim role along with our talented team will enable continued execution on our transformation priorities."Additionally, Marc Richard has assumed responsibility for all Papa John's North America operations, including those previously overseen by Thanawala in his role as President. Richard currently serves as senior vice president of North America operations.American Eagle also reiterated its second-quarter and full-year outlook issued in May. The guidance included mid-to-high-single-digit growth in comparable sales for the second quarter and a mid-single-digit increase for the metric in fiscal 2026."I am excited to partner with Jay and leadership to accelerate long-term strategic initiatives, maintain financial discipline and unlock new avenues for profitable growth that will help to maximize value for our shareholders," Thanawala said.

$AEO$NKE$PZZA

US Markets28d ago

Update: Dow Snaps Record Stretch Following Labor Data, Warsh Remarks

(Updates with market moves at the end of the day.)The Dow Jones Industrial Average snapped its record run Wednesday as traders assessed fresh labor market data and comments from Federal Reserve Chair Kevin Warsh.The Dow ended the session just below the flatline at 52,305.2 after logging closing highs in the past two sessions. The Nasdaq Composite fell 0.7% to 26,040, while the S&P 500 slipped 0.2% to 7,483.2.Among sectors, technology saw the steepest decline, while communication services paced the gainers.In economic news, employment in the US private sector increased less than expected in June, according to ADP (ADP) data released Wednesday, a day before the Bureau of Labor Statistics is scheduled to release its widely watched nonfarm payrolls report."The pace of hiring is telling a story of both supply and demand. We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries," ADP Chief Economist Nela Richardson said. "For now, the overall effect is a slowdown in job creation."Separately, Challenger Gray & Christmas said American employers announced 45,849 layoffs last month, down 53% from May and 4% from a year earlier. The reading marked the lowest monthly total since December 2025.The US economy is projected to have added 115,000 jobs in June, according to a Bloomberg-compiled survey. The monthly nonfarm payrolls report, which is usually released on a Friday, will be published on Thursday as US stock and bond markets will be closed Friday for the Independence Day holiday.Warsh, speaking at a European Central Bank forum in Portugal Wednesday, said inflation risks have eased, suggesting the central bank may be headed for another policy pause.The Fed remains committed to deliver price stability in the US, he said, reiterating what the Federal Open Market Committee said in its June policy statement."Inflation risks have come down," Warsh said. "If there were people in household or the business sector or the financial markets who thought that this central bank was going to be comfortable with an inflation objective above 2%, well, I guess they'd be disappointed."Markets expect the Fed to keep rates unchanged again when it meets toward the end of July, according to the CME FedWatch tool."The chairman's more favorable assessment of price pressures suggests an underlying support for maintaining the current level of policy as opposed to rate hikes," Stifel Chief Economist Lindsey Piegza said in a note.US Treasury yields were mixed, with the two-year yield down 1.7 basis points at 4.18% and the 10-year yield up 1.7 basis points at 4.49%.West Texas Intermediate crude oil was down 2.1% at $68.01 a barrel in Wednesday late-afternoon trade, while Brent fell 2.5% to $71.16.In company news, Meta Platforms (META) is building a cloud infrastructure business to sell access to AI computing power and models, setting up a new area of competition with Amazon (AMZN) Web Services, Microsoft (MSFT) Azure, and Alphabet's (GOOG, GOOGL) Google Cloud, Bloomberg reported.Meta shares jumped 8.8%, the third-top gainer on the S&P 500, while Microsoft rose 3%, the third-best performer on the Dow. Amazon advanced 1.4% and Alphabet's class A shares added 1.1%.Nike (NKE) climbed 4.9%, the best performer on the Dow, after the sportswear giant reported fourth-quarter results late Tuesday.The company's latest quarterly results and sales guidance indicate a "choppy" turnaround for the sportswear company amid continued headwinds in China, BofA Securities said.Gold was last up 0.2% at $4,048.20 per troy ounce, while silver fell 0.4% to $59.69 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$AMZN$GOOG$GOOGL$META$MSFT$NKE$SPGI

Sectors28d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.8%.In corporate news, General Motors' (GM) US vehicle sales fell year over year in Q2, with the carmaker attributing the decline in part to a smaller electric vehicle market. GM shares were down 2.1%. Separately, Stellantis (STLA) shares added 1.7% after it said Wednesday its total US sales for H1 2026 increased 5%, with momentum continuing in Q2 with the brands' total sales up 6% and June sales rising 10% year over year.FedEx (FDX) has agreed to sell its supply chain subsidiary to French shipping and logistics firm CMA CGM in a roughly $1.4 billion deal, as the parcel delivery giant continues to streamline its portfolio. FedEx shares rose 0.4%.Nike's (NKE) fiscal Q4 revenue slipped year-over-year, while earnings got a boost from expected tariff refunds. Its shares climbed 4%.Kroger (KR) agreed to buy food and pharmacy retailer Giant Eagle in a $1.65 billion deal that will expand the supermarket chain's footprint into new markets. Kroger shares rose 0.7%.

$FDX$GM$KR$NKE$STLA

Wire28d ago

NIKE Recovery Path Likely to be Elongated, Oppenheimer Says

NIKE's (NKE) Q4 results and commentary imply progress inrepositioning, with trends still suggesting an elongated recovery trajectory, Oppenheimer said in a note Wednesday.The report said it's best for shorter-term-oriented clients to stay on the sidelines, awaiting clearer evidence of a turnaround."We look upon outperform-rated Dick's Sporting Goods (DKS) as the best means to play improving product innovation at NKE," the report said.The note pointed to indication from the firm that World Cup-related demand is tracking well, but a now more-challenged macro backdrop is impacting sales trends in the US and abroad.The firm will host an investor event in mid-November, it added.Price: $42.38, Change: $+1.33, Percent Change: +3.23%

$NKE

US Markets29d ago

Update: US Equities Mixed as Traders Parse Labor Data, Warsh Remarks

(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday as traders parsed fresh labor market data ahead of a key jobs report due out Thursday and comments from Federal Reserve Chair Kevin Warsh.The Dow Jones Industrial Average was up 0.4% at 52,512.9 after midday Wednesday. The index hit new all-time highs in the past two days. The S&P 500 rose 0.1% to 7,510 intraday Wednesday, while the Nasdaq Composite fell 0.2% to 26,170.6.Among sectors, communication services paced the gainers, while utilities and technology were leading the laggards.In economic news, employment in the US private sector increased less than expected in June, according to ADP (ADP) data released Wednesday, a day before the Bureau of Labor Statistics is scheduled to release its widely watched nonfarm payrolls report."The pace of hiring is telling a story of both supply and demand. We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries," ADP Chief Economist Nela Richardson said. "For now, the overall effect is a slowdown in job creation."Separately, Challenger Gray & Christmas said American employers announced 45,849 layoffs last month, down 53% from May and 4% from a year earlier. The reading marked the lowest monthly total since December 2025.The US economy is projected to have added 115,000 jobs in June, according to a Bloomberg-compiled survey. The monthly nonfarm payrolls report, which is usually released on a Friday, will be published on Thursday as US stock and bond markets will be closed Friday for the Independence Day holiday.Warsh, speaking at a European Central Bank forum Wednesday, said inflation risks had eased."Inflation risks have come down," The New York Times quoted Warsh as saying during the event in Portugal.Warsh reiterated commitment to price stability."If people thought this central bank was going to be comfortable with an inflation objective above 2%, they would be disappointed," Warsh said, as reported by Reuters.The US manufacturing sector continued to expand last month, though the pace of growth moderated as higher raw material costs kept input inflation elevated, separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed.US Treasury yields were higher intraday, with the two-year yield up 2.1 basis points at 4.16% and the 10-year yield up 4.5 basis points at 4.47%.West Texas Intermediate crude oil was down 1.8% at $68.28 a barrel intraday, while Brent fell 2.3% to $71.27.In company news, Meta Platforms (META) is building a cloud infrastructure business to sell access to AI computing power and models, setting up a new area of competition with Amazon (AMZN) Web Services, Microsoft (MSFT) Azure, and Alphabet's (GOOG, GOOGL) Google Cloud, Bloomberg reported.Meta shares were up 9.7% intraday, the third-top gainer on the S&P 500, while Microsoft rose 3.9%, the second-best performer on the Dow. Amazon was up 2.4% and Alphabet's class A shares added 0.5%.Nike (NKE) advanced 2.1%, after the sportswear giant reported fourth-quarter results late Tuesday. The company's latest quarterly results and sales guidance indicate a "choppy" turnaround for the sportswear company amid continued headwinds in China, BofA Securities said.Gold was up 1.1% at $4,083.60 per troy ounce, while silver advanced 1% to $60.51 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$AMZN$GOOG$GOOGL$META$MSFT$NKE$SPGI

Sectors29d ago

Sector Update: Consumer Stocks Rise Wednesday Afternoon

Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.2%.In corporate news, General Mills (GIS) reported better-than-expected fiscal Q4 results on Wednesday, and said it's eyeing $3 billion in cost savings by fiscal 2030. Its shares jumped past 8%.Kroger (KR) agreed to buy food and pharmacy retailer Giant Eagle in a $1.65 billion deal that will expand the supermarket chain's footprint into new markets. Kroger shares were 0.2% higher.Nike's (NKE) fiscal Q4 revenue slipped year-over-year, while earnings got a boost from expected tariff refunds. Its shares climbed 2.5%.

$GIS$KR$NKE

US Markets29d ago

Nike Results, Downgraded Sales Forecast Indicate 'Choppy' Recovery, BofA Says

Nike's (NKE) latest quarterly results and sales guidance indicate a "choppy" turnaround for the sportswear company amid continued headwinds in China, BofA Securities said Wednesday.Late Tuesday, Nike's fiscal fourth-quarter revenue fell year over year, while earnings got a boost from expected tariff refunds. Revenue for the Nike brand was virtually flat, weighed down by a 12% slump in China.The company now expects sales to be down low- to mid-single digits for the period stretching from the fourth quarter through the first two quarters of fiscal 2027, compared with its previous forecast of down low-single digits, Chief Financial Officer Matthew Friend said on an earnings conference call."We are not expecting the environment to improve meaningfully over the next six months," Friend told analysts, adding that Nike continues to anticipate "flattish" earnings over the same time period, excluding the benefit from tariff recovery, according to a FactSet transcript.Describing the company's sales recovery as "choppy," BofA analysts, including Lorraine Hutchinson, said the latest results showed that "China remains pressured, and wholesale sell-through is still a key debate."The brokerage lowered its price objective on the Nike stock to $47 from $55 "to reflect slower progress on the sales turnaround," while reiterating its neutral rating. "Our concerns about declining sales in China and sportswear are offset by inflecting margins," the analysts wrote.Nike shares were up 3.8% in Wednesday afternoon trade. The stock has lost 33% in value so far this year.The environment remains uncertain for the company given evolving tariff policies and the situation in the Middle East, Friend said on the call. Nike's consumer is under pressure "around the world," with sportswear hit particularly hard in the just-ended quarter, he added."Considering the current macro environment as well as recent sell-through trends, we are taking actions to tighten buys, reduce future sell-in, and manage inventory," Friend said. "This will result in revenue moderating, but also higher gross margins."Price: $42.82, Change: $+1.77, Percent Change: +4.31%

$NKE

Wire29d ago

Nike's Turnaround Remains Long-Term Effort as Sales Recovery Lags Margin Gains, UBS Says

Nike's (NKE) latest quarterly results reinforce the view that the company's turnaround will take time, as improving margins and cost controls continue to be offset by a slower-than-expected sales recovery, UBS Securities said in a Tuesday note.Management cut its fiscal 2026 sales outlook amid continued weakness in its fashion business and planned inventory reductions. However, UBS said 5% growth in the performance business and improving execution across additional sports categories could support future sales growth.UBS said Nike maintained its earnings outlook by raising its gross margin forecast and lowering its SG&A expense expectations despite weaker revenue, but warned that prolonged cost restraint could lead to underinvestment and eventually require higher spending to support sustainable sales growth.UBS said lower inventories and disciplined promotions should support gross margins, though it expects revenue pressure to persist beyond the first quarter as Nike laps major sporting events and promotional activity.UBS maintained its Neutral rating on the stock and lowered its price target to $48 from $50.Nike shares were up 4.1% in Wednesday trading.Price: $42.57, Change: $+1.52, Percent Change: +3.70%

$NKE

Wire29d ago

Nike Recovery Remains Choppy as Sales Outlook Weakens, BofA Says

Nike's (NKE) turnaround remains choppy, with improving margins and cost controls offset by a slower sales recovery amid continued weakness in China, sportswear and direct-to-consumer sales, BofA Securities said in a Wednesday note.The company's management lowered its sales outlook to a low- to mid-single-digit decline while maintaining its earnings outlook. Stronger gross margins and cost controls are expected to offset weaker sales, the report said.The investment firm said North American wholesale growth benefited from lower returns, discounts and cancellations rather than stronger underlying demand. It added that sportswear sell-through remained weak, while direct-to-consumer sales continued to lag.Nike is prioritizing profitability in China through cleaner inventory, stronger full-price sales and a more premium brand positioning. Near-term revenue is expected to remain under pressure, according to the note.BofA maintained its neutral rating on the stock and lowered its price target to $47 from $55.Nike shares were up 2.1% in Wednesday trading.Price: $41.93, Change: $+0.88, Percent Change: +2.13%

$NKE

Wire29d ago

UBS Adjusts NIKE Price Target to $48 From $50, Maintains Neutral Rating

NIKE (NKE) has an average rating of overweight and mean price target of $51.32, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $42.34, Change: $+1.29, Percent Change: +3.14%

$NKE

Wire29d ago

BofA Securities Adjusts NIKE Price Target to $47 From $55, Maintains Neutral Rating

NIKE (NKE) has an average rating of overweight and mean price target of $52.18, according to analysts polled by FactSet.Price: $40.88, Change: $-0.16, Percent Change: -0.39%

$NKE

US Markets29d ago

Stocks Down Pre-Bell Ahead of Key Labor Data, Fed Chair Warsh's Remarks

The main US stock measures were pointing lower in Wednesday's premarket activity as traders await key labor market data and commentary from Federal Reserve Chair Kevin Warsh.The S&P 500 and the Dow Jones Industrial Average declined 0.2% each before the opening bell, while the Nasdaq was off 0.5%. The indexes finished Tuesday trading in the green, with the Dow recording a new all-time high.US markets will be closed on Friday in observance of the Independence Day holiday, which falls on a Saturday this year.Employers in the US announced 45,849 layoffs in June, down 53% from the month prior and 4% year over year, according to Challenger, Gray & Christmas' latest report. The ADP Employment report for last month posts at 8:15 am ET, followed by the weekly jobless claims bulletin at 8:30 am.The government's nonfarm payrolls report for June is scheduled to be released on Thursday. On Tuesday, official data showed job openings were little changed in May as hiring fell and separations rose.Warsh is slated to speak at the European Central Bank forum in Portugal at 9 am. Investors will be watching his remarks for any insight into future Fed monetary policy.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am. The final Purchasing Managers' manufacturing index for June is out at 9:45 am, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am. The weekly EIA domestic petroleum inventories report is due at 10:30 am.Treasury yields were trending higher in premarket action, with the two-year rate increasing 3.1 basis points to 4.17% and the 10-year rate adding 4.1 basis points to 4.46%.US President Donald Trump's special envoys, Steve Witkoff and Jared Kushner, arrived in Doha, Qatar, on Tuesday, Bloomberg News reported. Qatar, a mediator between the US and Iran, said the two US envoys are not scheduled to meet any Iranian officials and downplayed the possibility of a breakthrough in talks to permanently end the conflict between the two countries.West Texas Intermediate crude oil fell 1.2% to $68.66 a barrel before the open, while Brent decreased 1.1% to $72.14."Oil prices traded within a relatively tight range near recent lows while remaining on track for their biggest quarterly decline since the pandemic," Saxo Bank said in a report Tuesday.Shares of Nike (NKE) declined 3.3% pre-bell as the sportswear giant reported lower fiscal fourth-quarter revenue on a yearly basis. Constellation Brands (STZ) gained 1.6% after the beer and wine company reported an unexpected year-over-year increase in its fiscal first-quarter earnings.General Mills (GIS), FactSet Research Systems (FDS), MSC Industrial Direct (MSM) and Unifirst (UNF) are expected to report their latest financial results before the bell.Gold moved down 0.9% to $4,003 per troy ounce, while bitcoin slipped 0.1% to $58,600.

Dow JonesNasdaq CompositeS&P 500$FDS$GIS$MSM$NKE$STZ$UNF

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