Nike yells UNCLE, Mortgage rates' worst week in four years

Welcome to LazyListen. This is The Daily Rip for today. S.

stocks edged higher on Thursday, breaking a three-day losing streak, but the real headline was in energy. Brent crude surged more than four percent, topping one hundred two dollars a barrel. S.

is deploying a third aircraft carrier strike group and up to ten thousand additional troops to the Middle East, signaling potential renewed military action against Iran after the midterms. Energy stocks led the market with a two percent gain, while health care lagged, down about one and a third percent. Meanwhile, bond yields continued to pressure the real economy, pushing the average 30-year mortgage rate to seven point two eight percent — its biggest weekly jump in four years.

The 10-year Treasury yield settled above five point two five percent. Turning to the corporate spotlight, Nike’s latest earnings and guidance weighed heavily on the market. The sportswear giant reported a four percent revenue decline to eleven point two billion dollars in the fiscal first quarter, missing analyst expectations slightly.

While net income of seven hundred twelve million dollars beat estimates and gross margins improved thanks to lower warehousing costs, the outlook was grim. Nike warned that fiscal 2027 revenue will fall in the high single digits, signaling that next year will be worse than this one. The company also announced a new transformation program aiming to save two and a half billion dollars by 2031, but those savings are back-loaded, while sales declines are front-loaded.

Nike’s stock closed down just under one percent in regular trading, then dropped about four percent after hours to a fresh 52-week low near thirty-three dollars and seventy cents, down forty-three percent year to date. The message is clear: the turnaround is still a long way off. In stark contrast, Accenture delivered a blockbuster day.

The consulting giant posted fiscal fourth-quarter revenue of eighteen point seven billion dollars, up six percent and beating the high end of its guidance. Earnings per share came in at three dollars and twenty-nine cents. But the real story was bookings — new contracts hit a record twenty-two point two billion dollars, including one hundred forty-one clients signing deals worth over one hundred million dollars each.

This pipeline strength pushed Accenture’s stock up nearly sixteen percent to just over two hundred twelve dollars, its best day ever, after a tough run that saw the shares down thirty-two percent earlier this week. I. isn’t killing consulting; it’s fueling new business.

In deal news, Mattel emerged as a takeover target. Authentic Brands Group reportedly approached the toy maker with an offer north of twenty dollars per share, valuing the company at over six billion dollars. Mattel’s shares jumped nearly nineteen percent to fifteen dollars in regular trading, touching a high above seventeen dollars before settling back.

But the gap between the current price and the rumored offer suggests no deal is imminent. Adding complexity, Mattel is in the middle of a CEO transition this week, which could affect any potential acquisition talks. I.

startup Anthropic is racing toward what could be one of the largest IPOs ever. I. model is targeting a mid-November public offering, with formal marketing possibly starting the week of November ninth.

Investors are valuing Anthropic between one point eight and two trillion dollars, aiming to rival SpaceX’s record IPO size. The company posted a massive loss of nearly forty-two billion dollars last year, largely due to accounting charges, but still projects a valuation that dwarfs most tech IPOs this year. This comes as rival OpenAI has decided against going public now, and the broader IPO market has been challenging, with an average loss of four percent excluding outliers.

Anthropic is betting it can buck the trend. Looking at broader market themes, energy remains in focus given geopolitical tensions and supply concerns. The jump in oil prices is fueling gains in energy stocks and adding pressure to inflation-sensitive sectors.

The bond market’s continued rise in yields is pushing mortgage rates higher, which could weigh on housing and consumer spending. -driven growth is evident. m.

Eastern, which could set the tone for markets heading into the weekend. m. , rounding out a busy economic calendar.

In pre-market earnings, keep an eye on Waldencast, a smaller name reporting early. I. boom.

All of this sets the stage for a critical jobs report tomorrow that could influence market direction into the weekend. Thanks for listening. Catch you next time on LazyListen.