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Nasdaq 26,214 Β· Nike earnings beat Wall Street, but tariff refund boosted results ‌ ‌ ‌ ‌ ‌
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Stock Mornings
Your weekday pre-market read on US stocks.
Issue #9 Β· Wednesday, July 1, 2026
Volatility (VIX)  Cautious Β· 16.7  β–² from 16.5 yesterday
Worth noting  SpaceX (SPCX) moved +4.06% on the day.
Stocks opened higher as Nike's earnings beat and semiconductor sector strength offset caution about international markets abroad.
 
 

●  The Numbers

S&P 5007,499.36  +0.79%
+1.82% this week
Nasdaq Composite26,213.72  +1.52%
+2.45% this week
Dow Jones52,319.20  +0.26%
+1.26% this week
Russell 20003,024.37  +0.46%
+1.64% this week

Before the bell: see how Asia, Europe & US futures traded overnight →

●  The Movers

Leaders

SPCX SpaceX+4.06%
AAPL Apple+2.70%
NVDA Nvidia+2.63%

Laggards

AMZN Amazon-0.75%
META Meta+0.12%
^DJI Dow Jones+0.26%

The day's best and worst of the tracked indices and mega-caps Β· day-over-day change.

●  The Read

S&P 500 β€” description, not prediction

Trading above both its 50-day (7,378.88) and 200-day (6,934.07) averages β€” the longer-term trend reads as up. 30-day range 7,266.99–7,609.78; currently in the upper third of that range. RSI(14) 56 β€” momentum firm.

See where every market sits on the daily page β†’

●  The Brief

 Nike earnings beat Wall Street, but tariff refund boosted results

Nike's profit and gross margins exceeded expectations, though a significant tariff refund inflated the beat, raising questions about underlying operational performance. (MarketWatch)

 Fed stress test results released; implications for dividends and buybacks

The Federal Reserve completed bank stress testing, which will influence how much capital major banks can return to shareholders through dividends and stock repurchases. (Yahoo Fin)

 Semiconductor analysts say market missing key industry bottlenecks

Nomura analysts contend the semiconductor sector has room to run, citing production constraints the market hasn't fully priced in despite recent strong performance. (MarketWatch)

 US stocks surge while China markets struggle in contrast

The Nasdaq just posted its best quarter since 2020 on US strength, while Chinese equities lag significantly, highlighting divergent global market momentum. (CNBC)

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Markets 101

What are pre-market and after-hours?

Trading sessions outside the main 9:30–4:00 window. Prices can move on overnight news, but volume is thin, so those moves sometimes don't hold once the regular session opens.

β€œMarkets are a description of today, not a forecast of tomorrow.”

Stock Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Stocks carry risk β€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured shortly before the opening bell.

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