US stocks enjoy big relief rally after Monday’s tumble

Investors bought the dip, with major US stock indexes rallying on “turnaround Tuesday”. The SPDR S&P 500 Trust rose 1% today, as did the tech-heavy Nasdaq 100, while the Russell 2000 jumped 1.2 percent.

Japanese stocks rebounded today. After its worst crash since 1987, the Nikkei 225 surged 10.2 percent — though the index is still down 11 percent this month.

Treasury yields rose off their lows. The benchmark 10-year Treasury note is traded at 12 basis points higher at 3.9%, and the 2-year Treasury yield advanced 10 points to 3.989 percent.

All 11 S&P 500 sector ETFs saw positive returns. The real estate sector was the biggest mover, recording a 2.2 percent jump, followed by financials with a 1.6% gain.

Kenvue was the best S&P performer, rising 13.8 percent today after its second quarter earnings beat estimates. While growth in sales was unremarkable for Kenvue, investors had low expectations for the maker of Listerine and Band-Aid amid a broader slowdown of consumer spending. Uber rose 10.9 percent, thanks to solid earnings.

Several Magnificent Seven stocks also rebounded, with Nvidia recording a 3.8 percent increase and Meta jumping 3.9 percent.

Henry Schein was the worst S&P performer, down 8.1 percent, after lowering profit guidance during the earnings report. The company still suffers from a cybersecurity incident in October, which disrupted manufacturing and sales.

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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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Helena Cheng6/29/26

Rocket Lab deal lifts space stocks

Shares of Rocket Lab are surging after announcing an $8 billion acquisition of satellite communications operator Iridium Communications, helping lift a broader basket of space-related stocks as investors piled back into the sector.

Planet Labs, AST SpaceMobile and Redwire all traded higher alongside Rocket Lab, extending gains in an industry that has drawn enhanced investor attention in recent months in light of the strategic importance that governments place on space and satellite communications infrastructure.

In a presentation, Rocket Lab’s management called the purchase “a shortcut” for its satellite communications business.

Under the terms of the agreement, Iridium shareholders will receive $27 in cash and Rocket Lab stock, valuing Iridium at $54 per share. Backed by a $3.6 billion bridge loan committed by Deutsche Bank and Wells Fargo, Rocket Lab absorbs Iridium’s globally licensed spectrum and an active base of 2.5 million subscribers.

Rocket Lab has also remained one of the most active launch providers in the sector. The company completed its 12th launch of the year last week, maintaining one of the highest launch cadences among commercial space companies.

Today's rally helps offset a brutal stretch for the group. Rocket Lab shares had fallen over 35% over the prior month, while Planet Labs stock was down more than 40% and AST SpaceMobile stock was down around 30% over the same window.

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Jake Lahut6/29/26

Comcast shares rise on news of NBCUniversal spinoff deal

Comcast rose on the news that the telecom behemoth is spinning off NBCUniversal and Sky from its cable portfolio.

Comcast initially jumped up to 17% in early trading, with the deal leaving management to focus on its core verticals of cable, wireless, and business services.

NBCUniversal and Sky will form a new publicly traded company, similar to Versant Media, the holding company of CNBC and MS NOW that Comcast officially spun off in January. Bravo, one of the most lucrative properties that remained at Comcast, will remain part of NBCUniversal in the deal. The Universal theme parks and studios will also come with the new spinoff entity, along with Telemundo and Peacock.

Mike Cavanagh, the co-CEO of Comcast, will become the CEO for NBCUniversal, according to CNBC.

The spinoff will be completed in about a year, according to a Comcast company statement. Its shareholders will also own shares in NBCUniversal, according to the same statement.

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