Trump, Biden debate fallout, Nike crushed, Walgreens store closings

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Investors continue to digest the Trump-Biden debate with the future of the White House hanging in the balance. 

Stocks wrap up a mixed quarter, but large-cap tech keeps winning. 

New data on inflation and home prices are the latest factors for U.S. economy. 

Nike’s troublesome warning caused investor backlash. 

Walgreen’s is joining other retailers in shuttering stores across the nation. 

Demand for weight-loss drugs is off the charts, prompting Novo Nordisk to build a new factory. 

DEBATE FIREWORKS: President Joe Biden and former President Donald Trump went head-to-head in their first debate and inflation was the topic that kicked it off…continue reading here. Still, Biden’s subpar performance has sparked calls for him to step asidecontinue reading here.

VIDEO: Larry Kudlow, former Trump advisor, gives the former president high marks following the debate. 

STOCKS WIN: U.S. stocks wrapped up a winning month and a mixed quarter with the Nasdaq Composite rising over 8% for 2Q, while the S&P gained 4% and Dow Jones Industrial shed over 1%more on the markets.


VIDEO: Why investors keep raising price targets for the S&P 500. 


ECONOMY CHECK: The Federal Reserve’s favorite inflation gauge remains high continue reading here. Meanwhile, the U.S. housing market has never been hotter… continue reading here.

VIDEO: When will the Fed cut rates?

NAILED: Investors nailed Nike after the footwear giant cut its 2025 outlook as sales slumped even as CEO John Donohue tried to reassure investors. “While fiscal ‘25 will be a transition year for our business, we continue to make real progress on our comeback” he said on the company’s earnings call. Still, the stock posted its worst drop ever…more on Nike’s stock drop.

WALGREEN’S WOES: The pharmacy chain, like Rite Aid, will be closing a “significant” number of U.S. stores…continue reading here. More on Rite Aid’s problems.

VIDEO: Why are so many retailers closing?

FAT DEMAND: Consumers are clamoring for weight-loss drugs Wegovy and Ozempic so much so that the maker of the two needs to build a new $4.1 billion U.S. factory.continue reading here.

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