Ad
In this article
- .DJI
- .IXIC
- .RUT
- .SPX
- AMZN
Follow your favorite stocksCREATE FREE ACCOUNT
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.
Happy Wednesday. While consumer sentiment is near record lows, at least one group appears to be feeling better about their jobs: shift workers.
Stock futures are mixed this morning after a winning day on Wall Street.
Here are five key things investors need to know to start the trading day:
1. Heat wave
Traders work at the New York Stock Exchange on June 29, 2026. NYSE
Stocks posted strong quarterly gains across the board, despite a less-than-stellar June for the S&P 500 and Nasdaq Composite. Other areas of the market also saw sizable moves.
Here’s the stats you’ll want to take note of:
- The Dow Jones Industrial Average recorded its best first half of a year since 2021.
- The Nasdaq Composite saw its largest quarterly gain since 2020, powered by record-setting advances in semiconductor stocks and cybersecurity leaders.
- The small-cap focused Russell 2000 soared more than 21% in the first six months of the year, its best first-half since 1991.
- Brent crude saw its biggest monthly decline since March 2020, but is still up big on the year following the U.S. war with Iran.
- Gold saw its largest quarterly decline in 13 years, further unwinding last year’s monster run.
- Follow live markets updates here.
2. Red cliff
The iconic Nike swoosh design is displayed in a window of the athletic company’s new store on Broadway in Manhattan on April 24, 2026 in New York City. Spencer Platt | Getty Images
Nike reported stronger-than-expected results for the fiscal fourth quarter. But the athletic retailer posted a 12% sales drop in the closely watched China market, leading shares down 3% in extended trading.
Total revenue ticked down 1% from the same quarter a year prior. While revenue for North America rose 3%, it still came up short of Wall Street’s consensus forecast.
On the other hand, the Oregon-based company said its gross margin grew by nearly 9% in the quarter. As CNBC’s Laya Neelakandan notes, that was driven in part by an expected tariff refund after the Supreme Court struck down many of President Donald Trump’s levies.
3. Live from Portugal
Federal Reserve Bank of Cleveland president and CEO, Beth Hammack speaking with CNBC from Sintra, Portugal on June 30th, 2026. CNBC
In an interview with CNBC’s Sara Eisen yesterday, Cleveland Federal Reserve President Beth Hammack called the demand for artificial intelligence infrastructure “insatiable.” And she warned that it could drive up inflation.
Hammack said during the European Central Bank Conference in Sintra, Portugal, that inflation has been “too high” for the past five years. As a result, she said the Fed may need to raise interest rates.
Don’t miss Eisen’s panel with Fed Chair Kevin Warsh, European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem at 9 a.m. ET. Watch live on CNBC and CNBC+.
Get Morning Squawk directly in your inbox
CNBC’s Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.
Subscribe here to get access today.
4. Looking forward
PARIS, FRANCE – JUNE 11: Amazon Web Services (AWS) logo is displayed during the 9th edition of the VivaTech show at Parc des Expositions Porte de Versailles. (Photo by Chesnot/Getty Images)Chesnot | Getty Images Entertainment | Getty Images
Amazon announced yesterday that it’s investing $1 billion into a new Forward Deployed Engineering team for the Web Services business. As CNBC’s Ashley Capoot notes, Amazon is considered the first hyperscaler to unveil this type of group.
A forward deployed engineer is embeded within a business with the goal of accelerating technical transformation and dispatching AI. While Palantir coined the FDE title more than a decade ago, the job got increasingly popular among software vendors aiming to bring their talent into client facilities.
Meanwhile, Amazon founder Jeff Bezos’ Blue Origin said it would not rebuild a launchpad where one of its rockets exploded. Instead, the startup will focus on a redesign with the goal of a return to flying this year.
5. Over easy
Eggs are displayed at Handy Market on May 14, 2026 in Burbank, California. Justin Sullivan | Getty Images
Major egg producers settled a price inflation probe with the Justice Department and several state attorneys general. As part of the deal, the companies agreed to donate around 53 million eggs to food banks and related nonprofits.
The DOJ and states alleged that Cal-Maine Foods, Versova and Hickman’s Egg Ranch “illegally coordinated” for almost three years to raise a daily price index for the food. The proposed settlements would prevent the companies from “coordinated” price manipulation in the future by adding antitrust compliance programs and compliance officers. The settlements still require federal judge approval.
The Daily Dividend
Members of Congress on both sides of the aisle are taking a look at the role of private equity in youth sports. Here’s what Rep. Kevin Kiley, chair of the House Early Childhood, Elementary and Secondary Education subcommittee, said during a hearing on the matter yesterday:
The simple reality is that too many children are being priced out. It’s not that they lack talent or determination; it’s that their families simply cannot afford the rising costs.Rep. Kevin KileyChair of the House Early Childhood, Elementary and Secondary Education subcommittee
— CNBC’s Sean Conlon, Kif Leswing, Samantha Subin, Sam Meredith, Laya Neelakandan, Jeff Cox, Ashley Capoot, Annie Palmer, Greg Iacurci and Garrett Downs contributed to this report.
Luke Fountain assisted in the production of this newsletter. Melodie Warner edited this edition.
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Ad
SomaDerm, SomaDerm CBD, SomaDerm AWE (by New U Life).