WS #11112
The dominant signal in this window is the after-hours earnings from Nike (NKE), which beat estimates but saw shares slide due to tariff-aided EPS quality and ongoing revenue declines. Michael Burry disclosed new short positions against NVDA, TSLA, CAT, and AMAT, adding bearish pressure on mega-cap tech and industrials. The S&P 500 and Nasdaq posted their best quarterly gains since 2020, driven by a record chip rally in MU, INTC, and AMD, though the narrative is shifting as Burry's shorts and Nike's mixed results suggest potential headwinds. The World Bank's plan to phase out China lending is a geopolitical signal with implications for emerging markets and Chinese equities. Additionally, the Supreme Court upheld birthright citizenship, a political development with limited direct market impact. The API crude oil draw of 6.072M barrels is bullish for energy, while the Brookfield-Bloom Energy partnership expansion to $25B and Realty Income's data center JV underscore continued AI infrastructure investment.
Topics
Key developments
- Nike beats Q4 estimates but stock falls on tariff-aided EPS and revenue decline
- Michael Burry shorts Nvidia, Tesla, Caterpillar, Applied Materials
- Record chip rally adds $2 trillion to Micron, Intel, AMD in Q2
- World Bank to phase out China lending by 2031
- API crude oil inventory draws 6.072M barrels, bullish for oil
- Bloom Energy and Brookfield expand AI infrastructure partnership to $25B