Stock Market Today, July 1: Nike Jumps After Quarterly Results Beat Analyst Estimates
NIKE (NYSE:NKE), a global athletic footwear and apparel designer, marketer, and seller, closed at $43.14, up 5.09%. The stock rose after premarket results beat estimates, though investors are watching tariff-related profit support and a cautious revenue outlook. Trading volume reached 74.5M shares, coming in about 181% above its three-month average of 26.5M shares.
How the markets moved today
S&P 500 (SNPINDEX:^GSPC) closed at 7,485, down 0.19%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,040, down 0.66%. Among footwear and apparel retail, focused on athletic and sportswear products peers, Adidas closed at $102.83, up 0.25%, and Under Armour closed at $6.59, up 3.13%, as investors weighed brand demand and a 2026 FIFA World Cup backdrop.
What this means for investors
While Nike’s revenue dipped 1% and the company delivered an otherwise mixed earnings report, the stock rose higher today. I think this reaction has more to do with Nike’s stock being down 73% over the last five years than anything incredible highlighted in Q4.
That said, Nike running shoes grew sales by double digits for five straight quarters, the company’s wholesale operations in North America also grew by double digits, and inventory remained flat. Said another way, Nike’s “core” is improving.
However, sales in China dropped 17%, underscoring the country’s ongoing weakness. Meanwhile, Converse sales also dropped by 32%, adding to the company’s struggles.
With management guiding for a low-to-mid single-digit sales decline in the first half of fiscal 2027, I’d rather just wait and see with Nike stock, rather than try to time the bottom perfectly. This has been a multi-year “turnaround,” and I’d rather see some tangible improvement before considering an investment at this point, despite the company showing a few signs of progress in Q4.
Should you buy stock in Nike right now?
Before you buy stock in Nike, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nike wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $385,055!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,228,089!*
Now, it’s worth noting Stock Advisor’s total average return is 902% — a market-crushing outperformance compared to 209% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of July 1, 2026.
Josh Kohn-Lindquist has positions in Adidas. The Motley Fool has positions in and recommends Nike. The Motley Fool recommends Under Armour. The Motley Fool has a disclosure policy.
Recommended Articles
