- S&P 500 futures are up 33 points, or 0.75%
Weak Nike earnings might have spooked a different market because it's a good bellwether for consumer spending on apparel but the broader market has shaken it off despite a 3% fall in NKE shares.
Lower PCE inflation is the main driver for the last leg of equity gains as the market increasingly senses a soft landing in something of a goldilocks scenario.
I've been noting for some time that the first two weeks of July are the strongest, seasonally, of the year. Here's a great chart from Goldman Sachs to illustrate that seasonal strength.
