Luke Kawa3/21/25

S&P 500 erases huge losses after Trump vows “flexibility” on upcoming tariffs

Stocks opened deep in the red, but erased nearly all their losses after President Donald Trump said there would be some “flexibility” on tariffs he plans to enact on April 2.

Buoyed by a late charge (likely influenced by the triple-witching expiry of stock, index, and ETF options), the S&P 500 managed to close marginally higher and the Nasdaq 100 booked a 0.4% gain, while the Russell 2000 dipped 0.6%.

The benchmark US stock index posted its first weekly gain since Valentine’s Day.

The S&P 500 sector ETFs home to the Magnificent 7 (communication services, consumer discretionary, and tech) were the only ones to go positive on the day.

Most S&P 500 constituents fell: in fact, going back to 1997, there have only been eight other sessions where the advance-decline was this negative and the benchmark stock index gained on the day.

Super Micro Computer was the top performer on the S&P 500 after the server company was upgraded by JPMorgan.

Tesla was also a standout gainer, as CEO Elon Musk’s all-hands meeting seemingly offset the negative fundamental headlines that have piled up around the company, at least for one day.

Boeing took flight while Lockheed Martin swooned after Reuters reported that the former beat out the latter for a contract to build a new jet for the Air Force.

Nike floundered after warning of sales declines going forward, at one point erasing all the stock’s gains since October 2015.

FedEx tumbled after missing on earnings and saying profits would be down this year.

Micron’s margin pressure was front-of-mind for traders selling off the stock despite its solid quarterly results.

Carnival dipped after its near-term guidance came in a little light relative to the Street’s estimates.

Chinese EV maker Nio also took the red pill after whiffing on earnings and issuing sales and delivery guidance for Q1 way below analysts’ projections.

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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.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

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.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

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.”

markets

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.

markets

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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