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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

• Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, joins to recap earnings from Nike. Executives gave a cautious outlook and warned about elevated consumer anxiety, adding to investor concerns about the sportswear company’s painfully slow turnaround. Nike expects a slowdown in the coming quarter compared to the current period, citing the timing of wholesale shipments in North America among other factors. Chief Executive Officer Elliott Hill has led Nike for almost two years and progress toward recapturing growth has dragged on, sparking frustration. Management faces ever-growing pressure to produce results, with the company’s stock down 36% this year through Tuesday’s close, putting the shares on track for a fifth consecutive annual decline.
• Ellen Wald, President at Transversal Consulting and Senior Fellow at the Atlantic Council, examines the long-term impact of the Iran War on energy markets. Commercial shipping through the Strait of Hormuz has surged over the past few weeks, with American military support helping boost oil flows to more than 10 million barrels per day, a US official said. The increase since President Donald Trump signed an interim peace agreement with Iran represents a big jump in traffic since the war paralyzed flows.
• Andrew Grant, BloombergNEF Head of Intelligent Mobility, on BNEF’s Long-Term Electric Vehicle Outlook 2026. The annual flagship report includes analysis of EV adoption in passenger vehicles, commercial vans and trucks, two- and three-wheeled vehicles, and buses globally. It also looks at other drivetrains, including hybrids, natural gas and fuel cells, and explores the resulting impacts on demand for electricity, oil, batteries and materials, as well as CO2 emissions.
• Nick Wadhams, Bloomberg News National Security Team Leader, weighs in on the US deciding against renewing its trade deal with Canada and Mexico. US Trade Representative Jamieson Greer said, choosing instead to conduct annual reviews of the pact in a move that risks adding uncertainty for companies producing goods across North America. The US-Mexico-Canada Agreement, or USMCA, will remain in force for another a decade provided no one country decides to exit. Annual reviews instead of a longer-term renewal open the door to years of contentious negotiations over the rules governing continent-wide supply chains and low tariff levels vital for automakers, farmers, retailers and energy companies.
  
  

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• Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, weighs in on a record run for semiconductors. Chip stocks are heading for their best quarter ever, extending an extraordinary start to the year driven by insatiable demand for artificial intelligence equipment. But after recent jitters sent the stocks tumbling, investors are wondering how much further the rally can go. The Philadelphia Stock Exchange Semiconductor Index has soared 82% in the second quarter, putting it on track for its best quarter ever with one day to go. The gauge is up 94% in 2026, which if it holds would mark its best year since the dot-com boom in 1999. In contrast, the tech-heavy Nasdaq 100 Index has gained 26% in the second quarter, while the S&P 500 Index has risen 14%.
• Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst for Bloomberg Intelligence, previews earnings from sportswear giant Nike. Investors will look for further signs of progress in the company’s comeback effort as Chief Executive Officer Elliott Hill cements a leadership reset. Traders will also seek details about one-time tariff refunds and demand tied to the FIFA World Cup, as well as clarity on a report saying Nike planned to halt online sales by partners in China.
• Kenneth Shea, Senior Consumer Products Analyst for Bloomberg Intelligence, looks ahead to earnings from Constellation Brands. The company’s revenue is expected to retreat a fifth quarter in a row, weighed down by weaker wine and spirits sales. Operating margin is seen expanding though the benefits of an improved sales mix were likely offset by higher aluminum can costs.
• Erin McLaughlin, Senior Economist at the Conference Board, discusses the latest economic data. US consumer confidence edged up in June, as falling gas prices offset concerns about the labor market. The Conference Board’s gauge of confidence increased 0.6 point to 91.2 after a downward revision to the prior month, data released Tuesday showed. The median estimate in a Bloomberg survey of economists was 94.4. An indicator of present conditions fell, while a measure of expectations for the next six months advanced. A metric of perceptions about the job market closely monitored by economists fell to the lowest in more than five years. The report shows that cheaper gas resulting from a truce in the Middle East helped assuage some of the anxiety Americans have expressed about the economy in recent months. However, views of job opportunities deteriorated and consumers expect little improvement in the coming months.

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Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

• Former Watergate prosecutor Nick Akerman joins to discuss the day’s Supreme Court decisions. A divided US Supreme Court expanded the president’s power to fire top government officials in a blockbuster decision that puts the White House firmly in control of potentially dozens of agencies that have long operated independently. The 6-3 decision overturns a 1935 precedent that laid the legal groundwork for the modern administrative state. The ruling lets President Donald Trump fire Democratic Federal Trade Commission member Rebecca Kelly Slaughter despite a law that says commissioners can be removed only for specified reasons.
• Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence, breaks down the latest in energy markets. Oil rose as traders assessed upcoming peace talks between the US and Iran following a weekend of flare-ups over the Strait of Hormuz, including an attack on a supertanker laden with crude. West Texas Intermediate pared earlier losses, trading above $70 a barrel. Brent was nearly $73 a barrel. Both Tehran and Washington will stand down on their tit-for-tat attacks for now and vessels can move freely through Hormuz, according to a US official who spoke on condition of anonymity. US President Donald Trump said the two sides are set to resume peace talks in Doha on Tuesday.
• John Butler, Senior Industry Anaylst for Bloomberg Intelligence, discusses the latest headlines in the telecom space. SpaceX could advance its plan to compete directly with incumbent operators after Bloomberg News reported it held talks with Charter to use the latter’s terrestrial network to offer broader coverage. A Charter deal would help SpaceX address a key constraint of current satellite technology: insufficient capacity to support dense urban and suburban traffic.
• Nathan Dean, Senior US Policy Analyst for Bloomberg Intelligence, joins for a look at the fate of the revised 21st Century ROAD to Housing Act, which passed Congress with overwhelming bipartisan support. BI expects the bill will likely still become law despite President Trump canceling a signing ceremony on June 24 until the SAVE America Act is passed. Presidents have 10 days to veto legislation -- with some exceptions -- or a bill automatically becomes law.

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