Good morning. Happy Friday.
The Asian/Pacific markets were split. Japan, Thailand, and the Philippines did well; Hong Kong, South Korea, New Zealand, and Singapore were weak. Europe, Africa and the Middle East are currently doing great. The UK, Denmark, France, Germany, Finland, Switzerland, Norway, Spain, the Netherlands, Portugal, Austria, and Sweden are leading. Futures in the States point towards a positive open for the cash market.
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The dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are down. Bitcoin is up.
Stories/News from Seeking Alpha…
Nike sees $1B hit from tariffs
The world’s largest shoe company on Thursday said that current tariffs in place could lead to an additional cost increase of about $1B. Nike’s (NKE) warning came after it reported FQ4 2025 results that beat lowered expectations, though both revenue and profit fell on a Y/Y basis.
Shares of the Dow 30 component, however, jumped more than +10% in Friday pre-market hours. Investors cheered Nike’s (NKE) plans to reduce its reliance on China by reallocating supply from the Asian nation to other countries around the world.
“Despite the current elevated tariffs for Chinese products imported into the United States, manufacturing capacity and capability in China remains important to our global source base,” CFO Matthew Friend said on the earnings conference call. “Currently, China represents roughly 16% of the footwear we import into the United States, and we expect this to reduce to the high single-digit range by the end of fiscal ’26,” he added.
Nike (NKE) generated sales of $6.59B from Greater China in fiscal 2025, its results showed, marking a fall of 13% Y/Y. That figure represented 14.2% of the company’s total revenue of $46.31B.
Aside from its reallocation actions, Nike (NKE) also plans to mitigate tariff-related cost headwinds through partner arrangements with suppliers, price increases and corporate cost reductions.
Nike’s (NKE) struggles over the past year have been well documented, with the company embarking upon an ambitious turnaround plan under new top boss Elliott Hill amid deteriorating sales and souring demand. Both Jefferies and Morgan Stanley said its FQ4 results marked a potential bottom and that things would improve from here.
What else is happening…
Treasury strikes deal to remove ‘revenge tax’ from tax bill
White House says China trade deal finalized
What are the best crypto stocks right now?
Palantir (PLTR) signs deal with The Nuclear Company
Musk fires top Tesla (TSLA) lieutenant
Xiaomi soars after pricing its new EV model lower than the Tesla (TSLA) Model Y
Smucker’s (SJM) joins the no-dye bandwagon
Top tech stocks based on growth and value
YouTube tests two new AI features
Masayoshi Son looks to pick SoftBank successor
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Good morning. Happy Thursday.
The Asian/Pacific markets were split. Japan, India, and Indonesia did well; China, Hong Kong, and South Korea were weak. Europe, Africa and the Middle East lean to the upside. Poland, the UAE, Greece, South Africa, Hungary, and Portugal are up; Israel is down. Futures in the States point towards a positive open for the cash market.
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The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are down. Bitcoin is up.
Stories/News from Seeking Alpha…
AI back in driver’s seat
U.S. President Donald Trump’s “Liberation Day” announcement crushed Wall Street in April. Fast-forward more than two months, and the benchmark S&P 500 index (SP500) is back within striking distance of its record high. The rebound has been astonishing, and it has been driven significantly by the return of the artificial intelligence (AI) trade.
The AI trade exploded in 2023, with chipmakers and other related companies seeing exponential gains on bets of wide-scale adoption of the technology. Sentiment then took a hit this year, sparked by a rescaling of AI expectations, concerns over high valuations, and Trump’s tariff shock. However, with several positive trade developments since April and a fairly solid tech earnings season, investors have flocked back to the trade.
AI darlings: Nvidia (NVDA) on Wednesday scaled an all-time high and reclaimed its position as the world’s largest company by market capitalization. The advance came amid Loop Capital raising its price target on the chipmaker and predicting a “Golden Wave” of generative AI adoption. Meanwhile, memory chipmaker Micron Technology (MU) blew past expectations with its quarterly results and guidance, and Palantir Technologies (PLTR) hit a record high.
QQQ scales peak: The world’s fifth-largest exchange-traded fund – the Invesco QQQ ETF (QQQ) – has soared +34.5% since its intraday low in April in the aftermath of Trump’s tariffs announcement. The ETF tracks the tech-focused Nasdaq-100 (NDX), which itself has surged +34.4% over the same period. Marko Kolanovic, JPMorgan Chase’s former chief global markets strategist, had some words of caution, calling the NDX rally “not normal or healthy” regardless of one’s market view. Speaking of ETFs, the $3.58B Global X Artificial Intelligence & Technology ETF (AIQ) has jumped +40.8% from its April low.
What else is happening…
Jane Street co-founder said to have been ‘duped’ into funding coup
AI beats authors in court
Hims & Hers (HIMS) CEO says compounding Wegovy will continue
Micron (MU) pops as guidance blows past expectations on AI strength
Fannie (OTCQB:FNMA), Freddie (OTCQB:FMCC) may include crypto in mortgage risk assessment
Bezos looks to capitalize on Musk-Trump rift?
Trump CDC director nominee sees no link between vaccines and autism
Apple (AAPL) in talks with Formula One to put camera lenses on cars
Meta (META) recruits three OpenAI researchers for superintelligence push
Boeing (BA) said to hire former Northrop (NOC) exec to run Air Force One program
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Good morning. Happy Wednesday.
The Asian/Pacific markets mostly did well. China, Hong Kong, India, Taiwan, and Thailand led the way. Europe, Africa and the Middle East lean to the downside. Israel is up, but Denmark, South Africa, Finland, and Spain are down. Futures in the States point towards a positive open for the cash market.
————— The Art of Trading —————
The dollar is up. Oil and copper are up. Gold is up; silver is down. Bonds are down. Bitcoin is up.
Stories/News from Seeking Alpha…
China, Taiwan tensions heat up
The tensions between China and Taiwan have been simmering this week. The self-governed island earlier this month added Chinese tech giants Huawei and Semiconductor Manufacturing International (OTCQX:SIUIF) to its export control list, effectively restricting their access to advanced artificial intelligence development. Beijing on Wednesday slammed the move, and pledged to retaliate against what it calls Taiwan’s “technological blockades.”
China sees democratically governed Taiwan as its own territory, and has been steadily ramping up military and political pressure on the island over the past few years. This week has also seen the first of a series of planned ten speeches by Taiwan’s President Lai Ching-te in which he has asserted that Taiwan is “of course” a country.
Taiwan has become a major technological hub for the world, home to the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing (TSM). The U.S. also has a robust relationship with Taiwan, which in turn has further frayed the relations with China.
What else is happening…
Trump dismisses Pentagon report, claims Iran’s nuclear sites fully destroyed
FedEx (FDX) falls after setting profit guidance below expectations
Top 10 S&P 500 (SP500) performers year-to-date as the index nears record high
OpenAI CEO Sam Altman says had a ‘super nice call’ with Microsoft (MSFT) CEO
Walmart (WMT) testing ‘dark stores’ to speed deliveries
Stocks’ biggest threat is their valuations
Judge blocks Trump from withholding EV charging funds
Solar stocks surge as rooftop credit may get boost in Senate budget bill
AMD (AMD) pops as CFRA upgrades on upcoming products, better competitive stance
BYD (OTCPK:BYDDF) slows production, delays capacity expansion at China factories
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Good morning. Happy Tuesday.
The Asian/Pacific markets mostly posted huge gains. Japan, China, Hong Kong, South Korea, Taiwan, Australia, Indonesia, Thailand, and the Philipines all did great. Europe, Africa and the Middle East are doing well. Denmark, Poland, France, Turkey, Germany, Greece, the UAE, Switzerland, Hungary, Spain, Italy, Portugal, Israel, Austria, Sweden, and Saudi Arabia are up 1% or more. Only oil-rich Norway is down much. Futures in the States point to a moderate positive open for the cash market.
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The dollar is down. Oil if down; copper is up. Gold and silver are down. Bonds are down. Bitcoin is up.
Stories/News from Seeking Alpha…
An uneasy truce
After taking credit for brokering a ceasefire between Asian nuclear-armed neighbors India and Pakistan back in May, U.S. President Donald Trump is at it again.
On Monday evening, the President announced that Israel and Iran had agreed to a “complete and total” ceasefire. Early this morning, Trump said the ceasefire was now in effect.
Ceasefire violations: Israel’s Prime Minister Benjamin Netanyahu last night said Trump’s proposal was agreed to, “in light of” Israel having achieved all its objectives in Iran. However, this morning, Israel accused Iran of violating the ceasefire, and promised to “respond with force.” For its part, Iran’s foreign minister Seyed Abbas Araghchi late last night said there was no agreement yet on any ceasefire.
Markets are happy: Despite the uneasy nature of the ceasefire and the accusations of violating it, sentiment has been boosted across global markets. European and Asian stocks were largely higher across the board, while U.S. stock futures also climbed. Oil prices (CL1:COM)(CO1:COM) extended their decline from the previous day as concerns over a supply shock dissipated.
What else is happening…
Speeding Tesla (TSLA) robotaxis draw Fed scrutiny
China set for 100+ DeepSeek-like AI breakthroughs in 18 months?
Novo Nordisk (NVO) discontinues partnership with Hims & Hers
Starbucks (SBUX) denies plans to sell China biz amid speculation – report
Visa (V) is ‘just getting started’ with stablecoins
Chewy (CHWY) stock offering, share buyback
Corn futures tumble on sunny U.S. weather
Trump’s 90-day trade clock is winding down
UnitedHealth (UNH) tells shareholders to reject Tutanota ‘mini-tender’ offer
China squares off against EU over medical devices
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Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets were mixed. China, Hong Kong, and Malaysia did well; India, Taiwan, Indonesia, and the Philippines were weak. Europe, Africa and the Middle East are mostly down. The UAE and Saudi Arabia are up, but Denmark, Poland, France, Germany, Hungary, Italy, Portugal, Israel, Austria, Sweden, and the Czech Republic are down. Futures in the States have been up and down all night and morning and currently point to a slight positive open.
————— VIDEO: State of the Market —————
The dollar is up. Oil if flat; copper is down. Gold and silver are down. Bonds are up. Bitcoin is down.
Stories/News from Seeking Alpha…
‘Midnight Hammer’
The U.S. over the weekend conducted military strikes at Iran’s nuclear facilities in Fordow, Natanz and Isfahan, marking a significant escalation in the ongoing conflict between Iran and Israel. President Donald Trump late on Saturday in brief remarks to the nation said Iran’s nuclear enrichment facilities had been “completely and totally obliterated.”
Defense Secretary Pete Hegseth and Dan Caine, chairman of the Joint Chiefs of Staff, in a press conference on Sunday described how the strikes, dubbed “Operation Midnight Hammer,” were carried out by seven B-2 stealth bombers via “bunker buster” bombs. The International Atomic Energy Agency confirmed that the three nuclear sites in Iran had been hit, with the Isfahan complex suffering extensive additional damage.
Reactions: The U.S. strikes come after Trump last week said he would decide within two weeks whether to attack Iran. The operation was met with bipartisan praise in Congress, with Speaker Mike Johnson saying the President “made the right call.” Israel’s Prime Minister Benjamin Netanyahu said Trump and the U.S. had “acted with a lot of strength.” Iran’s foreign ministry in a statement said the U.S. operation was a “grave and unprecedented violation” of international law and that Iran was “resolved to defend” its territory, sovereignty and security.
Strait of Hormuz in focus: Oil prices (CL1:COM)(CO1:COM) had cut some gains after earlier surging to their highest levels since January. Energy and shipping industries are closely watching developments at the Strait of Hormuz, after Iran’s state TV over the weekend said parliament had approved a measure to close the waterway through which roughly a fifth of global crude supply flows.
What else is happening…
Landmark day for Tesla’s autonomous ambitions after limited robotaxi launch.
Texas will now require warning labels on certain foods like M&Ms and Fanta.
Trump may change his mind about firing Fed chair Jerome Powell.
Beleaguered chipmaker Wolfspeed plans to file for bankruptcy.
Indian digital payments market leader PhonePe seeks $1.5B domestic IPO.
Oil giant BP eyes former Centrica chief as new chair.
Supreme Court allows fuel producers to challenge California emissions standards.
Eli Lilly announces detailed data from late-stage trial for oral weight loss drug.
Frederick Smith, who founded FedEx in 1971, is dead at 80.
As stablecoin mania grips Wall Street, Fiserv plans to get in on the act.
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