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Nasdaq 26,872 ยท Nike shares plunge on weak revenue, layoff plans ‌ ‌ ‌ ‌ ‌
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Stock Mornings
Your weekday pre-market read on US stocks.
Issue #73 ยท Friday, October 2, 2026
Volatility (VIX)  Cautious ยท 15.9  โ–ผ from 16.4 yesterday
Stock indexes hold flat as Nike plunges to 13-year lows and Big Pharma reshapes its innovation strategy globally.
 
 

โ—  The Numbers

S&P 5007,666.45  +0.19%
-0.49% this week
Nasdaq Composite26,871.60  +0.04%
-0.25% this week
Dow Jones50,926.56  +0.04%
-0.82% this week
Russell 20002,806.63  +0.35%
-1.02% this week

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

โ—  The Movers

Leaders

NVDA Nvidia+1.09%
^RUT Russell 2000+0.35%
^GSPC S&P 500+0.19%

Laggards

SPCX SpaceX-1.85%
GOOGL Alphabet-1.70%
AAPL Apple-0.81%

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

โ—  The Read

S&P 500 โ€” description, not prediction

Trading above both its 50-day (7,651.35) and 200-day (7,221.29) averages โ€” the longer-term trend reads as up. 30-day range 7,551.81โ€“7,764.70; currently in the middle third of that range. RSI(14) 51 โ€” momentum roughly neutral.

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

โ—  The Brief

 Nike shares plunge on weak revenue, layoff plans

Nike stock fell sharply after reporting declining revenue and announcing workforce reductions, extending losses to a second day and hitting 13-year lows. (CNBC)

 Big Pharma increasingly sources innovation from China

(CNBC)

 Google's Gemini 4 enters frontier AI competition

Google released its new flagship AI model as it works to close the gap with OpenAI and Anthropic in the competitive frontier AI market. (CNBC)

 Burger King accelerates refranchising turnaround strategy

Burger King is divesting company-owned locations to local franchisees as part of its broader U.S. turnaround and operational restructuring effort. (CNBC)

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Markets 101

What's a ticker symbol?

A short code identifying a stock โ€” AAPL for Apple, MSFT for Microsoft. Indices use a caret in many systems (the S&P 500 is often shown as ^GSPC).

Hit reply: What's one market term we should explain in a future Markets 101?
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Stock Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Stocks carry risk โ€” 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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