On Thursday evening, President Trump confirmed the U.S. signed a trade deal with China, allowing for improved export approvals on certain items. Investors show cautious optimism, with the Vanguard S&P 500 ETF seeing a slight uptick. Economic indicators reveal inflation climbing to 2.7% in May, slightly above expectations. In earnings news, Nike and Apogee Enterprises performed strongly in Q4, surpassing earnings forecasts, boosting their stock values significantly. Conversely, American Outdoor Brands reported an earnings loss despite sales growth, which caused mixed investor reactions.
President Donald Trump confirmed that the U.S. has signed a trade deal with China that formalizes earlier talks and outlines new export approvals.
Despite a lack of details on the trade agreement, investors show optimism as the Vanguard S&P 500 ETF rises slightly in pre-market trading.
Nike reported better-than-expected Q4 earnings, with earnings of $0.14 per share and $11.1 billion in sales, both exceeding market forecasts.
Apogee Enterprises exceeded expectations with fiscal Q1 results, earning $0.56 per share, and stock prices surged as forward guidance tops analyst forecasts.
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