Morning Preview: July 09, 2026

Early Look

Thursday, July 9, 2026

U.S. futures are looking higher, paced by technology shares as the artificial-intelligence trade was mounting a comeback for a second day as investors got over the worst of their fears about the flare-up in tensions between the U.S. and Iran. In Asian markets, The Nikkei Index jumped 924 points to 67,743, the Shanghai Index rose 65 points to 4,036, and the Hang Seng Index fell -169 points to 24,030. In Europe, the German DAX is rising 41 points to 24,939, while the FTSE 100 falls -69 points to 10,419. Investors focus is on Iran/US tensions, upcoming jobless claims and existing home sales economic data and Korean chipmaker SK Hynix’s US trading debut tomorrow morning as Nasdaq futures add to yesterday’s rally behind a jump in semi chips. The South Korean memory giant is set to price its US offering on Thursday, with demand running at seven times the amount of shares available according to reports. Gold rebounds, while oil edges higher.

• The Dow Jones Industrial Average fell -586.64 points, or 1.11%, to 52,338.51
• The Nasdaq Composite gained 51.96 points, or 0.20%, to 25,870.65
• The Russell 2000 Index declined -26.12 points, or 0.88% to 2,956.37

• 8:30 AM EST               Continuing Claims
• 10:00 AM ET               Existing Home Sales M/M for June
• 10:30 AM ET               Weekly EIA Natural Gas Inventory Data
• 1:00 PM ET US Treasury to sell $22B in 30-year notes

• Earnings After the Close: WDFC

• China’s annual consumer inflation (CPI) slowed to 1.0% in June 2026, down from 1.2% in both April and May, hitting its lowest level in three months and missing market expectations of 1.1%. The cooling CPI was primarily driven by food prices, which fell 1.6% year-on-year.
• The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was -0.9% vs -10.9% last week. Bulls rise to 36.3% from 31.4%, Neutrals rise to 26.5% from 26.4%, Bears fall to 37.2% from 42.3%.
• Germany’s trade surplus widened to EU19.1B from a revised EU14.7B in April, well above the €14.8B consensus and the largest surplus since February. Exports rose 0.9% M/M to EU137.9B, vs. expectations for a 0.3% decline. Export growth accelerated from April’s revised 0.8% increase.

• Five Below (FIVE) upgraded to Outperform with $220 tgt at Mizuho as sees upside to second-half Street estimates as new customers are being retained at a high rate; said paid Instagram and TikTok influencers are amplifying trends and expanding Five Below’s reach across its core customer demographics.
• Hugo Boss (BOSSY) urged shareholders not to accept a EU2 billion ($2.3 billion) takeover offer from Britain’s Frasers Group, saying it was “financially inadequate”. The company said the €38-per-share cash offer reflected the legally required minimum price for Frasers to raise its stake.
• Levi Strauss (LEVI) Q2 adj EPS $0.28 vs. est. $0.24 and revs $1.56B tops est. $1.52B; guides FY adj EPS $1.46-$1.52 vs. est. $1.50 and rev growth up 7%-7.5%; sees FY26 organic rev growth 5.5%-6%; raises quarterly dividend to $0.16 from $0.14; 026 guidance assumes U.S. tariffs on imports from China remain at 30% & rest-of-world at 20%.
• PepsiCo (PEP) Q2 core EPS $2.20 vs. consensus $2.19 and revenue rose 6.4% y/y to $24.18B vs. est. $23.96B; backed its full-year outlook for earnings and sales growth as expects adjusted earnings to increase between 4% and 6%, and for organic revenue to climb between 2% and 4%.
• PriceSmart (PSMT) reports Q3 EPS $1.28 vs. $1.14 last year and est. $1.32; Q3 revs $1.48B vs. est. 41.43B; Q3 net merchandise sales increased 12.5% to $1.45B from $1.29B y/y; Q3 comp sales rose 10.7%.
• The Buckle (BKE) announced that comparable store net sales, for stores open at least one year, for the 5-week period ended July 4 increased 2.4% from comparable store net sales for the 5-week period ended July 5, 2025. Net sales for the 5-week fiscal month ended July 4 increased 5.2% to $112M
• Monster Beverage (MNST) declares two-for-one stock split.
• Starbucks (SBUX) taps Ai to reduce reliance on Microsoft (MSFT) and IBM software.

• Trucking/logistics sector shows Knight (KNX) and SAIA (SAIA) upgraded to Buy at Citigroup while upgraded Old Dominion (ODFL) to Neutral on recent pullback. The firm said transports Q2 earnings are likely to be among the strongest in years, as companies benefit from significantly tighter capacity conditions coupled with moderately improving demand.
• Vision Marine Technologies (VMAR) to sell its Fort Lauderdale property as part of a Florida real-estate optimization plan expected to generate about $13.1M in gross proceeds and $5.58M in net equity.

• Prologis (PLD) released a fresh investor presentation on Thursday, arguing that SEGRO (SEGXF) shareholders evaluate the strategic advantages of a tie-up between the two logistics real estate giants.
• Toast (TOST) was upgraded to Buy from Neutral at Goldman Sachs with a $36 price target.

• Cerebras Systems (CBRS) announced a major expansion of its European infrastructure footprint. Cerebras will bring its first European data center capacity online by the end of 2026, with rapid build-out across France and the Nordics. The company plans to expand total capacity to 200 MW by the end of 2027.
• Salesforce (CRM) downgraded to Sector Weight from Overweight at Keybanc, citing a lack of evidence that the Agentforce AI platform will offer future upside.
• Michael Burry, the investor famed for predicting and profiting from the 2008 U.S. housing market collapse, has ‌bought shares of sports-betting platforms Flutter Entertainment (FLUT) and DraftKings (DKNG), ‌wagering regulatory scrutiny will eventually curb the threat posed by prediction markets.