U.S. markets showed little movement as investors awaited Nvidia's earnings report. The second 25% tranche of a threatened 50% tariff on Indian exports to the U.S. takes effect after Indian refiners briefly paused, then resumed, Russian oil purchases. JM Smucker reported Q1 fiscal 2026 results in line with expectations but guided weaker for the full year, pressuring its stock. Williams-Sonoma beat earnings and revenue forecasts, guided higher citing stronger net revenue trends, and projected modest same-store and total sales gains. Abercrombie & Fitch reported slightly better-than-expected Q2 results and revenue.
The Vanguard S&P 500 ETF ( NYSEMKT: VOO) is up less than 0.1% as investors pause to consider whether Nvidia ( Nasdaq: NVDA) might beat or miss earnings this evening. In tariffs news, the second 25% tranche of President Trump's threatened 50% (total) tariff on Indian exports to the U.S. goes into effect today. Levied initially to discourage India from buying Russian oil, the tariff briefly convinced some Indian refiners to pause oil purchases.
JM Smucker ( NYSE: SJM) reported a fiscal Q1 2026 profit of $1.90 per share this morning, on $2.11 billion in revenue. Both earnings and revenue were exactly what Wall Street expected, but Smucker guided for weaker than expected full year fiscal 2026 earnings - and now it's stock is down 7% premarket. Fellow S&P component Williams-Sonoma ( NYSE: WSM) reported a Q2 profit of $2, 22 cents better than analysts expected.
Revenue of $1.84 billion edged past analyst expectations, and Williams-Sonoma guided higher citing "higher net revenue trends." Same store sales could rise 2% to 5% this year and total sales growth should be 0.5% to 3.5%. Williams-Sonoma stock is up nearly 3% in response. Abercrombie & Fitch ( NYSE: ANF) reported fiscal Q2 2026 earnings of $2.32, a nickel better than expected. Revenue was also better than expected at $1.2 billi
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