Market Outlook - The S&P 500 is expected to reach new all-time highs before the end of the year, requiring a 3% increase in the final eight and a half trading sessions [1] - A significant broadening of the market is noted, with more 52-week highs and an increase in stocks above their 50-day and 200-day moving averages [1] - High-yield corporate bonds are trading less than 1% away from all-time highs, indicating that recent tech volatility is not a precursor to a broader market collapse [1] 2026 Market Theme - Broadening is anticipated to be the main theme for 2026, with recent tech weakness viewed as a standard consolidation after a record-breaking 13-day win streak [2] - Historical patterns indicate that midterm years are typically the weakest in the presidential cycle, often experiencing a 17.5% peak-to-trough correction [2] - The current bull market is in its fourth year, with historical data suggesting that bull markets of this age last an average of eight years [2] Nike Inc. (NYSE:NKE) Analysis - Nike's total revenue for FQ2 2026 increased by 1% year-over-year to $12.43 billion, exceeding estimates by $218.31 million [10] - The company reported an EPS of $0.53, beating guidance by $0.16, but faced a disappointing FQ3 outlook with a forecast for low-single-digit decline in topline [9][10] - North America showed a 9% revenue increase, driven by a 24% surge in wholesale growth, while Greater China faced a 16% revenue decline [11] Ondas Holdings Inc. (NASDAQ:ONDS) Analysis - Ondas Holdings reported a more than sixfold year-over-year revenue surge to $10.1 million in Q3 2025, primarily driven by its Autonomous Systems division [15] - The company's consolidated backlog doubled to $23.3 million, with expectations to exceed $40 million by year-end, prompting a revenue target increase for 2025 to ~$36 million and an ambitious goal of ~$110 million for 2026 [15] - Analysts have a positive outlook on Ondas, with Stifel initiating coverage with a Buy rating and a $13 price target, citing its potential in the unmanned systems market [13][14]

Market Performance - The U.S. market closed positively on Christmas Eve, with the Dow Jones Industrial Average increasing by 0.60%, setting a new record at 48,731.16, driven by gains in 28 of its 30 components [2] - The S&P 500 also achieved a record close of 6,932.05, with only 111 components declining, supported by a diverse range of firms [3] - The Nasdaq composite rose by 0.22%, contributing to the overall positive market sentiment [3] - The Russell 2000 index increased by 0.20%, recovering from previous declines amid concerns over GDP growth impacting Federal Reserve rate cuts [3] Notable Stock Movements - Edgewise Therapeutics was the top performer, surging by 25.2% after completing a phase two trial for its heart disease drug [4] - Other significant gainers included Travere Therapeutics (+13.9%) and UiPath (+7.5%), indicating strong performance in the healthcare and technology sectors [4] - Conversely, AST SpaceMobile (-8.6%), Hycroft Mining (-8%), and D-Wave Quantum (-5.5%) experienced declines, reflecting a pullback in previously popular retail trades [5] Economic Data - Jobless claims data showed a mixed trend: initial claims decreased to 214,000 from 224,000, while continuing claims rose to 1.923 million from 1.885 million [6]

U.S. stock futures rose on Friday after Thursday’s higher close. Futures of major benchmark indices advanced.On Thursday, the November report showed that annual CPI inflation slowed to 2.7% from 3% in September. Because the Bureau of Labor Statistics lacked October survey-based prices, it carried forward September levels, effectively assuming zero inflation for a missing month. Meanwhile, President Donald Trump signed an executive order on Thursday, directing federal agencies to loosen regulations on mariju ...

Market Overview - U.S. stock futures are slightly higher after a decline in the previous session, amid concerns about a "hiring recession" following the November jobs report [1] - The November Consumer Price Index is anticipated as a key inflation indicator that could influence market sentiment in the final trading days of the year [1] Treasury Bonds and Market Projections - The 10-year Treasury bond yielded 4.13%, while the two-year bond was at 3.46% [2] - The CME Group's FedWatch tool indicates a 73.4% probability that the Federal Reserve will maintain current interest rates [2] Stock Performance - The SPDR S&P 500 ETF Trust (SPY) increased by 0.23% to $672.95, and the Invesco QQQ Trust ETF (QQQ) rose by 0.55% to $603.70 in premarket trading [2] - Accenture PLC shares decreased by 0.27% ahead of its fiscal first-quarter results, with expected earnings of $3.75 per share on revenue of $18.52 billion [6] - Micron Technology Inc. shares rose by 9.61% following a better-than-expected first-quarter performance and a strong outlook for the second quarter [6] - FedEx Corp. shares fell by 0.07% pre-market, with analysts expecting earnings of $4.10 per share on revenue of $22.79 billion [6] - Nike Inc. shares increased by 0.44% ahead of its fiscal second-quarter results, with expected earnings of $0.38 per share on revenue of $12.22 billion [13] Sector Performance - On the previous trading day, Information Technology, Consumer Discretionary, and Communication Services sectors performed well, while Energy, Health Care, Real Estate, and Financials sectors saw declines [8] Economic Data and Market Sentiment - Initial jobless claims and the November consumer price index report are set to be released, which will provide insights into price pressures and regional factory activity [14]

Market Overview - U.S. stock futures are slightly higher after a decline on Wednesday, driven by concerns over a "hiring recession" following the November jobs report [1] - The November Consumer Price Index is anticipated as a crucial inflation indicator that could influence market trends for the remaining trading days of the year [1] Treasury Bonds and Market Projections - The 10-year Treasury bond yielded 4.13%, while the two-year bond was at 3.46% [2] - The CME Group's FedWatch tool indicates a 73.4% probability that the Federal Reserve will maintain current interest rates [2] Stock Performance - The SPDR S&P 500 ETF Trust (SPY) increased by 0.23% to $672.95, and the Invesco QQQ Trust ETF (QQQ) rose by 0.55% to $603.70 in premarket trading [2] - Accenture PLC shares decreased by 0.27% ahead of its fiscal first-quarter results, with expected earnings of $3.75 per share on revenue of $18.52 billion [6] - Micron Technology Inc. shares rose by 9.61% following a better-than-expected first-quarter performance and a strong outlook for the second quarter [6] - FedEx Corp. shares fell by 0.07% pre-market, with analysts expecting earnings of $4.10 per share on revenue of $22.79 billion [6] - Nike Inc. shares increased by 0.44% ahead of its fiscal second-quarter results, with expected earnings of $0.38 per share on revenue of $12.22 billion [13] Sector Performance - On Wednesday, Information Technology, Consumer Discretionary, and Communication Services sectors performed well, while Energy, Health Care, Real Estate, and Financials sectors saw declines [8] Economic Data and Market Sentiment - Initial jobless claims and the November consumer price index report are set to be released, which will provide insights into price pressures and regional factory activity [14] - Asian markets closed mixed, with some indices in the green, while most European markets opened higher [15]

Market Overview - U.S. stock futures declined on Wednesday following gains on Tuesday, with major indices experiencing drops due to the federal government entering a shutdown after Congress failed to agree on a spending plan [1][2] - Historical data indicates that government shutdowns typically have a short-lived and limited long-term impact on equities [1] Economic Indicators - The 10-year Treasury bond yielded 4.15%, while the two-year bond was at 3.60%, with a 94.6% likelihood of the Federal Reserve cutting interest rates in the upcoming October meeting [2] - U.S. job openings increased by 19,000 to 7.227 million in August, while the Chicago Business Barometer fell to 40.6 in September, below market expectations [5] Recent Performance - The S&P 500 gained over 3% in September, with the Dow increasing nearly 2% and the Nasdaq rising 5.6% [4] - Most sectors on the S&P 500 closed positively on Tuesday, with information technology, health care, and industrials showing the largest gains, while energy and consumer discretionary sectors closed lower [3] Analyst Insights - Historical trends suggest that October is often a positive month for the S&P 500, with nearly 60% of Octobers since 1950 showing positive returns and an average gain of 0.89% [8] - The fourth quarter (October to December) is historically the strongest three-month period for equities, with an average return of almost 2% since 1950, and over 6% in the past five years [12][17] - The current momentum of the S&P 500, which is on a five-month winning streak, indicates a historically bullish setup for equities as the year ends [14][17] Company Performance - Nike Inc. reported better-than-expected first-quarter results, with earnings of 49 cents per share surpassing the consensus estimate of 27 cents, and sales of $11.720 billion exceeding the estimate of $11.000 billion [17] - Ryvyl Inc. surged 94.66% following a $75 million merger agreement, while AST SpaceMobile Inc. jumped 6.38% due to news about its upcoming satellite launch [17]

Investment Rating - The investment rating for Nike Inc. is Neutral, with a 12-month price target of US$56.00 and a current price of US$60.78 [2][3]. Core Insights - The report highlights a bearish outlook for Nike's 4Q earnings, with projected revenues decreasing from US$51,217 million in FY23 to US$45,923 million in FY25E [2]. - The EBIT margin is expected to decline significantly, from 11.5% in FY23 to 7.7% in FY25E, indicating potential profitability challenges [2]. - The report raises concerns about Nike's ability to manage inventory levels and consumer demand effectively, particularly in its "classics" business [6][7]. Financial Summary - Revenues are projected to decrease from US$51,217 million in FY23 to US$43,177 million in FY26E [2]. - EBIT is expected to drop from US$5,915 million in FY23 to US$1,473 million in FY26E [2]. - Net earnings are forecasted to decline from US$5,070 million in FY23 to US$1,355 million in FY26E [2]. - EPS is projected to fall from US$3.23 in FY23 to US$0.95 in FY26E [2]. - The dividend per share is expected to increase gradually from US$1.30 in FY23 to US$1.61 in FY26E [2]. Market Metrics - Nike's market capitalization is approximately US$89.8 billion, with a free float of 100% and an average daily trading volume of 3,936,000 shares [3]. - The stock has a 52-week range of US$97.17 to US$53.27, indicating significant volatility [3]. - The P/E ratio is projected to decrease from 34.7x in FY23 to 28.3x in FY25E, reflecting a potential decline in investor confidence [2][3]. Strategic Considerations - The report discusses Nike's strategy to partner with Amazon for direct sales, which marks a shift from its previous stance [6]. - There are questions regarding the management of tariffs and their impact on pricing and margins, particularly concerning imports from China and Vietnam [6][7]. - The report emphasizes the need for Nike to reinvigorate its running business and manage inventory levels effectively to align with consumer demand [7].

Group 1: Stock Performance - Nike Inc. has experienced a significant decline, down 30.16% over the past year and 17.85% in the last month, currently trading at $64.95, which is at the bottom of its 52-week range [1] - The stock is below all key moving averages, with the Moving Average Convergence Divergence (MACD) at -2.34 and the Relative Strength Index (RSI) at 26.93, indicating oversold conditions [1] Group 2: Business Fundamentals - Nike has warned of a double-digit sales decline in its fourth fiscal quarter, attributed to tariffs, weak consumer confidence, and a sluggish turnaround strategy [2] - Sales during the critical holiday quarter fell by 9%, primarily due to weak demand in China [2] Group 3: Inventory and Margins - The company is dealing with excess inventory and outdated styles, leading to markdowns that negatively impact margins [3] - Nike anticipates a gross margin shrinkage of up to five percentage points in the current quarter as it works to clear the backlog [3] Group 4: Market Outlook - The stock is in a bearish trend, influenced by weak fundamentals and deteriorating technical indicators [4] - While the oversold conditions indicated by the RSI may lead to a short-term bounce, the overall downtrend persists until sales and margins improve [4]

Core Viewpoint - Nike Inc. is currently trading near its yearly low prices, presenting a potential investment opportunity despite recent declines in stock value and consumer spending trends [1][4][10] Financial Performance - Nike's recent quarterly earnings showed a net revenue decline of 9% year-over-year, primarily due to slowdowns in the footwear segment, especially in China [5][6] - The stock is trading at 68% of its 52-week high, reflecting market conditions similar to those during the COVID-19 pandemic [3][4] Market Sentiment - Institutional investors have invested approximately $6.3 billion into Nike stock recently, indicating confidence in the company's future despite current lows [7][8] - Bill Ackman, a notable investor, has maintained his position in Nike since Q4 2024, showing continued support during the stock's decline [11] Dividend and Valuation - Nike offers a dividend payout of $1.6 per share, translating to an annualized yield of 2.4%, the highest in over nine years, suggesting potential undervaluation [9][10] - The current P/E ratio of 20.7x is above the discretionary sector average of 17.1x, indicating a premium valuation that seasoned investors may view as justified based on future performance expectations [13] Price Forecast - Analysts have set a 12-month price target for Nike at $87.38, suggesting a potential upside of 32.89% from the current price of $65.76 [10]