Futures nudge higher as Wall Street braces for Warsh, Nvidia and a bitcoin comeback
Not a stellar start to the day for Dick’s Sporting Goods. Shares in the retailer plunged 17% before the bell after it missed second-quarter numbers and hacked its full-year earnings guidance.
Blame discounting rivals, thin product launches and a Foot Locker business that is dragging on comparable sales.
Elsewhere, futures were feeling brighter. Dow and S&P 500 contracts crept up 0.3%, while the Nasdaq 100 gained 0.7% as it dusted itself off after Monday’s tech wobble.
Asia was less convincing, falling broadly after Treasury Secretary Scott Bessent unveiled fresh sanctions on Iran.
Nvidia, meanwhile, has now managed seven straight down days ahead of earnings, which is quite the run-up for the most-watched results in the market.
Bitcoin is having none of the gloom, vaulting above $80,000 for the first time in three months as Treasury bond market intervention stirred dollar debasement chatter.
Gold rallied too, then paused for breath. New home sales, ADP employment and manufacturing data all land today, teeing up Wednesday’s PCE inflation print and Jackson Hole, where Kevin Warsh gives his first speech as Fed chair.
Intuit and Zoom report after the close.
