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🇺🇸 美股盘后复盘US Close WrapCodex · 实盘不做把握 3/10标签:us_close_wrap不做原因:其他
北京时间·🕒 发布 06:08:45时区推断·⟳ 抓取 06:26:29·⚡ 决策 08-26 06:32:42 +6m13s·62.5 天前

Dick's Sporting Goods暴跌确认Foot Locker与美国运动鞋促销压力,但亚洲映射缺少新增可交易edge

Nike中国渠道权利终止已在7月大幅重定价,本次美国Dick's事件新增edge不足。

📄 原文US Close Wrap美股盘后复盘
# 美股盘后催化 9/11: Dick's Sporting Goods暴跌暴露Foot Locker整合和运动鞋促销压力,Nike与Deckers被拖累 - 美股会话: 2026-08-25 - 方向: NEGATIVE;类型: 财报/…
不做 滔搏(06110.HK)
Nike中国渠道权利终止已在7月大幅重定价,本次美国Dick's事件新增edge不足。
不做 安踏体育(02020.HK)
竞争替代与全球运动鞋折扣压力方向相互抵消,缺少明确新增利多。
不做 李宁(02331.HK)
Nike疲弱不等于李宁受益,行业促销压力反而压制估值。
不做 ASICS(7936.JP)
竞品替代和美国运动鞋需求疲弱方向混合,缺少新增可量化edge。
不做 宝成工业(9904.TW)
虽为Nike供应商,但未证实本事件导致新增砍单或利润下修。
不做 丰泰企业(9910.TW)
Nike供应关系成立且已有真实日线报价,但无订单冲击一手证据,做空红线不满足。

另有 1 腿,见展开详情。

展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)

其余 1 腿

不做 Hwaseung Enterprise(241590.KS)
ODM敞口未量化、流动性偏弱,且未见Dick's事件传导为新增订单负面。

研究档案

🔎 新鲜度:最早出现 2026-08-25 · 扩散 medium · price-in 风险 high ↗ ↗ ↗

消息传播链

  1. 2026-08-25 07:00 ET官方确认Dick's Sporting Goods earnings release / 二级转载非一手原文 ↗
    Dick's二季度销售和调整后EPS低于预期,Foot Locker pro forma同店-3.6%,并将Foot Locker全年同店展望从增长下调为-2%至持平。
    市场反应:DKS当日大跌约28%-31%,Nike下跌约2.8%-3%。
  2. 2026-08-25 16:04 ET扩散Bloomberg TV The Close非一手原文 ↗
    Bloomberg将Dick's暴跌归因于Foot Locker持续疲弱、鞋类市场更促销、品牌官网折扣增加和消费偏好转向UGG/Birkenstock。
    市场反应:Nike跌约3%,Deckers被拖累。
  3. 2026-08-25 22:08 UTC扩散Bloomberg Markets Wrap非一手原文 ↗
    Markets Wrap把Dick's下跌列为企业亮点,称Foot Locker仍挣扎并引发对更广泛运动鞋市场的疑虑。
  4. 2026-07-22先行定价Topsports公告二级转载非一手原文 ↗
    滔搏收到Nike正式通知,2027年1月1日起终止中国内地线上平台Nike产品销售,相关收入约占总收入22%。
    市场反应:Yicai称滔搏当日最多跌29.9%、收跌24.1%。
  5. 2026-07先行定价Nike FY2026 10-K一手源原文 ↗
    Nike披露大中华收入下降、促销压力和库存问题,说明中国运动鞋渠道压力并非本次Dick's事件首次揭示。

关键理由

  • Dick's二季报和媒体报道确认Foot Locker同店下滑、指引下修、鞋类促销压力加重,Nike等美国运动鞋链条被拖累。
  • 亚洲候选的核心敞口多是Nike/Adidas供应链、渠道或竞争替代,但本次事件主要是美国零售渠道压力,未出现亚洲订单取消或区域需求新增恶化的一手证据。
  • 滔搏的Nike中国线上权利终止、Nike大中华收入下滑和促销压力已在6月至7月公开,当前事件更像旧风险延伸而非隔夜下单催化。

主要风险

  • 当前环境未暴露stock_tools MCP,无法实际调用stock_quote、kb_search、supply_chain_lookup、event_study和search_case_library;按fail-closed不下单。
  • 若本地开盘前出现Nike、Deckers或品牌方对亚洲代工厂砍单的一手确认,宝成工业(9904.TW)、丰泰企业(9910.TW)和相关韩国ODM需重新评估。

反向证据

  • 做多前查反向 · 来源 web · 日期 2026-07 · 影响 weakens
    Nike年报列明Anta、Li Ning是竞争者,但同一事件也代表全球运动鞋促销和需求压力,不能证明本土品牌短线受益。
    检索:安踏/李宁受益Nike美国渠道疲弱 原文 ↗
  • 做空前查反向 · 来源 web · 影响 weakens
    未找到订单取消、砍单或产能利用率下修的一手证据;当前仅为美国渠道压力推导。
    检索:宝成/丰泰 Nike订单取消 Dick's Foot Locker
  • 做空前查反向 · 来源 web · 日期 2026-07-22 · 影响 weakens
    滔搏已因Nike线上权利终止大幅下跌,当前美国Dick's事件不是同等强度新负面。
    检索:滔搏 Nike中国线上权利终止 price in 原文 ↗
  • 做空前查反向 · 来源 web · 影响 weakens
    未找到Dick's事件直接影响Hwaseung订单或客户指引的证据,且Nike敞口未量化。
    检索:Hwaseung Enterprise Nike adidas ODM Dick's Foot Locker orders

先例如何影响了这次决策

对本次决策的影响:降低置信度并使所有候选转为AVOID。

方向:无合格先例支持方向性下单。

涨幅量级:无法给出可回测的亚洲映射幅度。

形态:缺少同市场同相位样本,按fail-closed处理。

原文全文

展开原文 · 27,011 字
# 美股盘后催化 9/11: Dick's Sporting Goods暴跌暴露Foot Locker整合和运动鞋促销压力,Nike与Deckers被拖累

- 美股会话: 2026-08-25
- 方向: NEGATIVE;类型: 财报/指引;规划重大性: 5/10
- 映射模式: customer_demand
- 美股驱动(规划器初判,需独立核验): 事实:Dick's Sporting Goods跌约31%,因其收购的Foot Locker仍在挣扎,并称鞋类市场更具促销性;品牌在自有网站加大折扣,消费偏好转向UGG、Birkenstock等品类。Nike跌约3%,Deckers也被拖累。推断:这是消费和运动鞋渠道压力链,亚洲映射应落到品牌代工、运动鞋渠道和本土品牌竞争,而非宏观消费泛化。

## 本催化相关美股真实收盘行情

- 规划器没有给出可取价的美股 ticker;必须联网核实具体 mover。

## 亚太映射假设(仅候选,必须查证)

- 安踏体育 (待归一) [HK/竞争替代/mixed]: 国际运动鞋渠道疲弱可能压制运动品牌估值,但本土品牌也可能在中国市场受益于竞争替代。;核验问题: 核实中国运动鞋折扣、库存和门店流水是否同步恶化。
- 李宁 (待归一) [HK/竞争替代/mixed]: 运动鞋促销压力可能拖累行业定价,但本土品牌与Nike渠道竞争格局需单独验证。;核验问题: 核实折扣率、库存周期和新品动销。
- 宝成工业 (待归一) [TW/供应商/negative]: 若Nike等国际鞋类客户需求和渠道去库存加重,代工订单和产能利用率可能承压。;核验问题: 核实Nike/Deckers订单占比、季度接单和ASP趋势。
- 滔搏 (待归一) [HK/客户/渠道/negative]: 运动鞋促销加剧和国际品牌销售放缓可能压缩渠道商毛利与库存周转。;核验问题: 核实中国Nike/Adidas零售折扣和库存变化。

## 必答问题

- Dick's业绩中Foot Locker同店、库存和毛利压力分别多大?
- Nike亚洲订单是否已反映美国渠道疲软,还是区域需求分化?

## 原始证据全文(2 条)

### [E0001] Bloomberg TV+ · The Close | 2026-08-25 20:14 UTC | 收盘后
Bloomberg TV+ The Close transcript · 2026-08-25
URL: https://www.bloomberg.com/live/us
[15:55:00 ET] Is that it is incredibly amorphous, yes, there are components that are far more tangible like inflation expectations.
[15:55:08 ET] Components that are just a catch all of different reasons why an investor would want to own treasury.
[15:55:16 ET] or would not want to, and of course, that all gets priced in and I think now we're headed upward because the risks are growing.
[15:55:24 ET] I think then that inflationary pressures are maybe not as relevant to Treasury yields if we get a softer PCE if continue.
[15:55:32 ET] That trajectory that we've had in the last month of inflation readings, it's not really going to do much to bring yields down well I certainly think.
[15:55:40 ET] On the margins and especially in the shorter term it could, but I think longer term and really more even just in the next several months.
[15:55:48 ET] And beyond, we're going to see yields go higher, not lower in this environment. Keep in mind, we continue to have AI related.
[15:55:56 ET] Corporate debt issuance that is also taking away some of the potential buyers for treasury or at least.
[15:56:04 ET] Forcing up yields further, what does it mean for the Fed. Well, that's a far more complicated question.
[15:56:12 ET] An answer because we just don't exactly know what the calculus is for the fed yet right, and perhaps we'll get some of that in the jack.
[15:56:20 ET] hole speech this friday, but right now what it seems is that the fed is looking to markets to.
[15:56:28 ET] At least the fed chair is looking to markets to tell him what they believe is had.
[15:56:36 ET] But what we have is a number of other FOMC participants who seem ready to hike rates if inflation.
[15:56:44 ET] Remas at this level or moves higher mean i think the FOMc minutes were quite stunning in terms of the number.
[15:56:52 ET] That are very very predisposed to hike rates so what do you think, I guess what do you want to?
[15:57:00 ET] From war on Friday, you may not get it, what do you want to hear out of him and are you concerned that he might make a mistake communication?
[15:57:08 ET] Well, I'm not concerned that he might make a mistake and I will give the caveat that these.
[15:57:16 ET] mittees, I think he refers to them as task forces were only put together several months ago. So, I mean, ideally, it would be nice.
[15:57:24 ET] To have reported back and him come back with recommendations, policy proposals, talk about sort of you know the mechanics of.
[15:57:32 ET] How he wants to quote unquote modernernize the Fed, I just think that that's unrealistic to anticipate just given the short timeline.
[15:57:40 ET] So he could very well just be laying out some broader policy goals.
[15:57:48 ET] Whats similar to his speech after the first FOMc meeting now we could get some things like we're going to have fewer FOMc meetings which.
[15:57:56 ET] meetings, which seemed to come from the minutes. We could get some specifics like that, but I think it's going to be a view.
[15:58:04 ET] 4 feetAll right, china have to leave it there china hooper, chief market strategist over at man group counting us down to the closing bells.
[15:58:12 ET] Stocks up fractionally on the day yields down so too as oil, a full breakdown of all of today's market action starts right now.
[15:58:20 ET] The closing bell, Bloomberg's comprehensive cross platform coverage of the US. market close.
[15:58:28 ET] Right now and right now we are.
[15:58:36 ET] Mute away from the end of the trading day romaine botic here with em grafa taking you through to that closing bell it's a global signcast joins us along.
[15:58:44 ET] Norada welcome to our audiences across all of our bloomloberg platforms, television, radio, our partnership with YouTube fractional gains on.
[15:58:52 ET] For the major U. indices ti stnik with yields down oil down as well, the dollar flat on the day now i'm glad you went to oil.
[15:59:00 ET] Exact where I'm looking, we see brt down about 5% right now, 4.5% lower for WTI, but we were just talking about.
[15:59:08 ET] PI mean, still high relative to where they were just a few months ago, I mean, you still have these benchmarks up more than 40%.
[15:59:16 ET] This year and the AAA gas price average up to 41 right now or close to 410. So that's something that folks.
[15:59:24 ET] of midtermYeah, another thing that they're watching closely is that AI traded with a lot of folks looking ahead to nvidia earnings.
[15:59:32 ET] Tim and I earlier and in the show on business week just talking about the fact that this used to be a market Super Bowl, still a very consequential earnings report.
[15:59:40 ET] When you see a little bit less concentration, you start to see investors looking in other places as well, but if you take a look at the socks index as we're heading into the closing zone.
[15:59:48 ET] Remember when Joe Wins all had like didn't they have like a watch party somewhere at some bar in New York, Im like I believe it it was a time, there was a different time room.
[15:59:56 ET] Now there are a lot of ways you can look at the AI trade, right Ab.
[16:00:04 ET] WorkingI'm noting, we should point out we are going to get some earnings from the software side intotu it and zoom box also set the report.
[16:00:12 ET] Obviously a little bit less consequential than in video, but we'll bring you those numbers as soon as we get them meanwhile the numbers for the broader market.
[16:00:20 ET] Mostly in the green on the day, the dow Jones industrial average, the s& 500 each up about 3 tenths of a percent on the day.
[16:00:28 ET] Nasq composite and the nasdaq 100 each up about six tenths of a percent on the day and the Ru of 2000.
[16:00:36 ET] InOn the action on the day up about 15 points or about half a percent we are getting.
[16:00:44 ET] out right now into it actually crossing the wire right now, net revenue in its most recent fiscal quarter coming in at about 4.35 billion.
[16:00:52 ET] Appear to be a beat based on the average of estimates collected by bloomberg, but here's your forecast going forward.
[16:01:00 ET] The company says that for the full fiscal year that has already started 2027, fiscal year revenue will be in a range of 23.28 billion.
[16:01:08 ET] 23.51 billion the low end of that range is right around the average of street estimates, average operating income for the full year.
[16:01:16 ET] 8.06 to 8.15 billion that's below the average of street estimates, which we're tracking closer to 10 billion EPA.
[16:01:24 ET] The range is 22.8 to 23.12 the street that's well below what street was looking for they were looking for about 27 bucks.
[16:01:32 ET] And shares taken head in the after hours now as a result down about 11%, remember, this is a company buying tuurboax, credit karma, QuickBooks, maililchimp.
[16:01:40 ET] Intuit enterprise sweet and more, I mean, this is a company it's down 46% Emily since.
[16:01:48 ET] This year, I mean, it's a consequence of the so called SaSpocalypse, at least as of now Yeah, it's been tough for those software names. I do want to get back to the.
[16:01:56 ET] Regular trading session though before we get back to earnings just taking a look at kind of how sectors fared out, it was mostly green.
[16:02:04 ET] Look at the IM in the S&P 500 information tech communication services materials, those were the leaders in terms of the S&P 500 groups.
[16:02:12 ET] energy we know that oil down about 5%, so those energy stocks getting dragged down, staples and industrials also lower.
[16:02:20 ET] Okay,'re on a few more earnings, including Zoom and box, we'll bring those to you as we do get them in the meantime, do you want to take a look at some stocks that were higher today in the essence?
[16:02:28 ET] 500 the best performer was Moderna up 14% this after last week's rally shares cruising higher this year, but still.
[16:02:36 ET] Just about 60% from those 2021 highs, all time highs in the COviID world, our shares actually moved higher today as a result of what happened.
[16:02:44 ET] Last week, Wolf research out with a note upgrading the company to peer perform from underperform, citing the success of its melanoma vaccine.
[16:02:52 ET] analyst Alexandria Hammond saying the positive trial results derisk the platform for Moder share Moder.
[16:03:00 ET] The best performer in the S&P, 14% today, also taking a look at shares of NviDdia ahead of that report tomorrow NviIdia shares higher this year.
[16:03:08 ET] About 14%, so outperforming the S&P 500 up 2.2% today, this is the biggest.
[16:03:16 ET] Increase or excuse me, this is an increase based on the today's move up more than 2% the big question tomorrow.
[16:03:24 ET] the AI industry, yes, there's other ways we can look, but NviDdia is still the big player. What are the company's efforts to remain at the center of the AI?
[16:03:32 ET] And finally, one of the most actively traded stocks today, Re AI, it's a company with a market cap, just shy of about $2 billion shares were up.
[16:03:40 ET] More than 21% today we can go ahead and round that up. The company did say Google has selected its proprietary distributed database tech.
[16:03:48 ET] For deployment at the infrastructure level within Google Cloud, it marks the platform's first major commercial deployment investors cheering that news.
[16:03:56 ET] Shares up close to 22% today Well, there were a few names in the red as we closed out following that closing bell.
[16:04:04 ET] I'm taking a look at shares of dick's sporting goods, a brutal day for this company, shares of the company down about 31% on the day that's the worst day.
[16:04:12 ET] For dicks sporting goods and its lowest level since 2023, this all comes after the foot locker chain that it acquired last year.
[16:04:20 ET] Showing that it's continuing to struggle and really raising broader doubts about the sneaker market, the sneaker industry, the company saying at the foot.
[16:04:28 ET] Where market has become increasingly promotional last quarter That's after brands up discounting on their own websites and the company seeing a shift to.
[16:04:36 ET] LikeUgs and birk and sock, if you take a look at shares of Nikke also falling down about 3% after the closing bell and we know Nikke is a supply.
[16:04:44 ET] To both dick's sporting goods and foot locker so certainly seeing some investors shifting out of that name was the last time you were in a foot locker norra meinda?
[16:04:52 ET] I was just talking about this earlier with Tim, I can't remember the last time I was in a foot locker or the last time I was in big sporting goods Wow I to be.
[16:05:00 ET] Dix is huge in New York Well di' is big and the thing is like we talk about this idea of a company when they had made this announcement.
[16:05:08 ET] Back in early 2025 May 2025 it was pretty widely derided i mean di was growing, it was growing four, five, six% on.
[16:05:16 ET] Sa foot locker was shrinking, it had a negative sign in front of its comp sales number and everybody said, why would you buy this company and now here we are.
[16:05:24 ET] More than a year later and well, those questions are still being asked I mean we had Anthony Jaumbbo on from Luke Cap who.
[16:05:32 ET] It blunt, Emily, he basically said, I don't know what the heck they're doing and I'm cleaning it up family friendly and you have to remember too.
[16:05:40 ET] M of this is also just due to that weak in consumer we do have some earnings though remain get let' zm in on zoom communications in the most recent quarter.
[16:05:48 ET] It does look like most of the metrics did come in either in line with estimates or slightly above for the second quarter revenue of about 1.28 billion.
[16:05:56 ET] It was looking for about 1.27 so a slight beat there similar story on the adjusted eps basis, but let's go straight to the guidance.
[16:06:04 ET] For the full year, the company says that for the full year revenue, look for a 5.09 to 5.10, so basically 5.1.
[16:06:12 ET] billion dollars its previous guidance was for roughly about 5.09 so slightly raising that just a bit.
[16:06:20 ET] And the operating income side it given a range of 2.07 to 2.08 the previous estimate was for 2.07 so the top end of that.
[16:06:28 ET] Coming in slightly above that, most of the numbers pretty much track in that same vein here, basically either just above street estimate.
[16:06:36 ET] Buy a few bucks or so or maybe just right in line the shares lower by 4% all right you're watching zoom, I'm watching what's happening with B.
[16:06:44 ET] In the after hours, the shares for B, the content management platform down about 8% in the after hours taken away.
[16:06:52 ET] the company's latest report, the outlook, the company seeing fiscally or adjusted earnings per share, about $154.
[16:07:00 ET] $56, the estimate is for $58, so that coming in light shows down about 6.4% in addition to that, the company.
[16:07:08 ET] Sees fiscal year revenue coming in at $129 or excuse me, 1.29 billion saw $1.28 billion, the estimate is 1.2.
[16:07:16 ET] Bill dollars so as far as the outlook goes a beat on the top line, but a miss on the bottom line, the company sees third quarter adjusted EPS.
[16:07:24 ET] 39 cents, the estimates for 39 cents, second quarter revenue coming in above estimates at 321.1 million dollars the company sees a Q3.
[16:07:32 ET] Gap EPS at 12 cents that matches expectations shares down about 4.6%, 4.5% in the after hours.
[16:07:40 ET] I mean, you look at B and Zoom and into it, obviously three different companies, but to a certain extent, kind of all dealing with some of the same issues with AI.
[16:07:48 ET] And some of the new tools that are out there that to a certain extent chip away at some of the moat that they might have had and you know, I don't know.
[16:07:56 ET] goes I mean we had a great analyst on from Goldman yesterday Gabriela Borg, who kind of talked about this idea that the saspocalypse is overdone and.
[16:08:04 ET] AI buildout will actually end up benefiting them as it will actually increase usage on some of their platforms we've had some folks talk to us about that as well but you know,
[16:08:12 ET] We're not seeing that play out in the public markets yet and every stuck, every company is different too Yeah and don't forget I mean everyone's talking about N video.
[16:08:20 ET] Torow we get Salesforce tomorrow as well not to I'm sure they'll get overshadowed, but definitely interesting read on that side of the trade All right Salforce shares.
[16:08:28 ET] leastas this year have still taken a pretty big hit down about 22% guy aren't you No, it depends?
[16:08:36 ET] It depends on, yeah, I have slacked before, how's that, but you know, I'm all about the Bloomberg terminalmin and the I guy.
[16:08:44 ET] Come all right all right guys, we got to go, we'll see you tomorrow that is going to do it for a cross platform cover.
[16:08:52 ET] We'll have NviDdia earnings tomorrow, we will have, also, of course, Salesforce earnings tomorrow, we'll see you same time, same place.
[16:09:00 ET] Our coverage continues here on Bloberg talk about Wall Street.
[16:09:08 ET] they're fighting the wrong battle when it comes to retail investors Mitch Kaplan, the CEO of Willow Wealth and former CEO of E trade, who'll be joining us in just a second right.
[16:09:16 ET] Close right here on Bloomberg.
[16:09:24 ET] The.
[16:09:32 ET] The.
[16:09:40 ET] The.
[16:09:48 ET] The.
[16:09:56 ET] In case you missed it on Bloomberg open Inter.
[16:10:04 ET] It's a lot of realizations, the conversation for this industry, especially private equity had been, it's gummed up, there's a dam that needs to break.
[16:10:12 ET] The dam broke or is this just Carlisle doing a good job of selling we have Gs it's in the quarter from Japan, from Europe technology from U.
[16:10:20 ET] Real estate and our U buyout team, they've distributed 23% of fair market value over the last 12 months.
[16:10:28 ET] The industry average so for us it's more of the same capital markets are open, it's a good environment and we're finding great opportunities to exit and to invest.
[16:10:36 ET] There's a disconnect between buyers and sellers does that mean when you exit, you're having to take down valuations we're finding buyers both in.
[16:10:44 ET] M marketWe've also had very successful IPs in the past year, so we're really taking all opportunities to realize invest.
[16:10:52 ET] When we think it's the right time, don't miss open interest live weekdays.
[16:11:00 ET] Spotlight on a different aspect of global flows, funds and the forces shaping markets on IQ.
[16:11:08 ET] lopThe players behind major transactions on Bloberg deals rates, risk and the cost of capital on.
[16:11:16 ET] Real and personal finance retirement and wealth management on bloomberg money a different topic every weekday only.
[16:11:24 ET] We're television.
[16:11:32 ET] The countdown is on everything you need to get the edge at the.
[16:11:40 ET] And the market day this is the close Wecom back to the close I'm Romaine Baick.
[16:11:48 ET] A close look here at how Wall street finished the day, fractional gains for the sP, the Dow the nasdaq and the rus 2000 here on this tuesday.
[16:11:56 ET] Afternoon tech led the charge, but healthcare care got in on the action to the nasdaq biotech index up about 1.8% on.
[16:12:04 ET] A part of the upside that we saw in equities because of the downside we saw in yields and the downside that we saw in crude oil.
[16:12:12 ET] Prices down about 6% on the day to flip up the board and take a look at some of the individual gainers on the day n video snapping that.
[16:12:20 ET] day losing streak rallying about 2% ahead of its big earnings report just about 24 hours from now ad also getting in.
[16:12:28 ET] TheAction up about 5% that was on the back of an upgrade over at raymond jam actually says ad, not nvidia, actually has a better.
[16:12:36 ET] Of capturing some of the upside in the cpu marketMeanwhilewhile deckers was dragged down partly because of those results out of dick exporting goods.
[16:12:44 ET] Early today and target, well, let's just say another misstep, if you will, down about 4% on the day.
[16:12:52 ET] And we're going to move now to our top story of the hour, a model backdrop for markets, you got an S&P that remains range bound despite.
[16:13:00 ET] el attractive valuation and roughly 20 times forward earnings. You have benchmark Treasury yields that offer some compelling coupons.
[16:13:08 ET] At the same time are flashing yellow lights of caution. The tightest corporate debt spreads in years that would suggest calm, but also offer.
[16:13:16 ET] Attractive entry points for investment and you got global AI investment that Goldman now estimates will exceed $1 trillion dollars in 2026.
[16:13:24 ET] Though that report makes no mention of when and what the return on that investment will be, so what's an investor to do out there.
[16:13:32 ET] mer CEO of E trade Financial and now runs the private markets's investing platform willow wealthth mitch kplan joins us right now.
[16:13:40 ET] more about all of this all right Mitch, I do kind of want to start just with what we've kind of been seeing in the market lately because it's kind of been all over the place and I am curious.
[16:13:48 ET] As to how investors, particularly on the retail side, sort of behave in these types of situations, is there anything we can read into it?
[16:13:56 ET] Yeah, I mean, I think generally, just from my experience all the way back at e tradeade that investors are just looking for ways in which.
[16:14:04 ET] They can invest for the long term right like you have your group of investors who are more hyperactive trading.
[16:14:12 ET] You see it on some of the platforms that still exists today, but generally what we saw was the evolution of customers really trying to figure out how they build wealth.
[16:14:20 ET] And so whether they're thinking about ways to build a diversified portfolio in public markets, private markets, and you know, there's a lot of.
[16:14:28 ET] OutAnd I think that that's the part that confuses retail investors with regards, they like how people are positioning and allocating and particularly in life.
[16:14:36 ET] Some of the recent developments with regards to the Treasury department and the move in yields, you know, we've talked a lot on this show.
[16:14:44 ET] Obviously the traditional 6040 kind of you was put to bed a long time ago, there's a lot more allocation to private assets do you see people?
[16:14:52 ET] Particularly on your platform reaching more for some of those private assets, given what we're seeing in public bond markets and equity.

### [E0003] Bloomberg Markets Wrap | 2026-08-25 22:08 UTC | 收盘后
Asian Stocks Set to Gain as Oil Extends Declines: Markets Wrap
URL: https://www.bloomberg.com/news/articles/2026-08-25/asian-stocks-set-to-gain-as-oil-extends-declines-markets-wrap
Asian stocks were set to advance as falling oil prices eased inflation concerns and pushed bond yields lower, while traders awaited Nvidia Corp.’s earnings for fresh clues on the outlook for artificial intelligence.

Equity-index futures for Australia, Japan and South Korea all gained after a rebound in chipmakers snapped Nvidia’s seven-day losing streak ahead of its results later Wednesday. US stock futures were steady after the Nasdaq 100 Index closed 0.6% higher and the S&P 500 Index rose 0.3%.

US crude extended losses in early Asia trading following hopes for a revival of energy flows through the Strait of Hormuz after Iran and Oman discussed an interim framework. Lower oil prices helped push 10-year Treasury yields down seven basis points on Tuesday, while a gauge of dollar strength declined.

The retreat in oil is offering some relief to markets after persistent inflation and elevated yields have weighed on risk appetite. Investors are now looking to Nvidia’s results and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech for signals on whether the AI rally can regain momentum and where interest rates are headed.

“This week is providing a better backdrop for yields to respond positively to the Treasury’s buyback plans as lighter-than-expected economic data and sinking oil prices lift momentum in the fixed-income complex,” said José Torres, senior economist at Interactive Brokers.

Analysts estimate Nvidia’s revenue nearly doubled from a year earlier to $92 billion last quarter, more than any of its rivals generate in a full year. The results will offer a key test of whether the AI boom can sustain the earnings expectations underpinning technology valuations.

“Nvidia is operating on all cylinders and they’re doing absolutely everything correctly at this point,” said Mark Malek at Siebert Financial. “We’re anticipating good news here, but so is everybody.”

Attention will then shift to the annual Jackson Hole Symposium on Friday, where Warsh will deliver his first major speech as Fed chair. Investors will be looking for greater clarity on his assessment of the economy and the path for monetary policy.

Data Tuesday showed US consumer confidence fell to a seven-month low in August as the outlook for business conditions and the labor market deteriorated. The Conference Board’s gauge declined 0.8 point to 89.4 after the prior month was revised lower.

“Consumers are optimistic about today but increasingly nervous about tomorrow,” said Jeffrey Roach, chief economist at LPL Financial. “Although employment conditions remain solid, fading expectations for income growth may act as a headwind to spending.”

Elsewhere, Canadian Prime Minister Mark Carney matched new tariffs imposed by President Donald Trump and announced support for businesses hurt by the escalating trade dispute with the country’s largest trading partner.

Trade talks between the two sides collapsed Friday, and Carney said Monday it had become clear that US officials were seeking to undermine key Canadian industries including steel, aluminum and auto manufacturing.

Canada will double existing counter-tariffs on US steel and aluminum products to 50%. American-made milk, furniture and clothing will also face new 50% duties, along with video-game consoles, smartphones and other electronics.

Corporate Highlights:

OpenAI said its new Jalapeno chips performed better than Nvidia’s current lineup during testing, underscoring progress developing AI processors in-house. SpaceX plans to build a new $100 billion launch site for its Starship rocket on the southern coast of Louisiana, allowing the company to expand operations of the behemoth vehicle that’s critical to its future. Apple Inc. announced upgraded Mac mini and Mac Studio desktop computers, giving the in-demand machines major processor upgrades. Lambda Inc., an AI cloud-computing provider backed by Nvidia, is in talks to raise as much as $3 billion in a round that could tee it up to go public next year, according to people familiar with the efforts. Dick’s Sporting Goods Inc. sank after the Foot Locker chain it acquired last year continued to struggle, raising doubts about the broader sneaker market.

For a list, click here.

Some of the main moves in markets:

Stocks

Hang Seng futures rose 0.4% as of 7:04 a.m. Tokyo time S&P/ASX 200 futures rose 0.3% Nikkei 225 futures were little changed

Currencies

The euro was little changed at $1.1677 The Japanese yen was little changed at 159.21 per dollar The offshore yuan was little changed at 6.7175 per dollar The Australian dollar was little changed at $0.7162

Cryptocurrencies

Bitcoin rose 0.5% to $78,626.82 Ether rose 0.2% to $2,441.64

Commodities

Spot gold was little changed West Texas Intermediate crude fell 1.5% to $81.12 a barrel

This story was produced with the assistance of Bloomberg Automation.

## 研究交付要求

这是一条已经从整场材料语义拆出的独立催化,不要重新把它压回大盘总评。核实美股异动原因和传播时序;用结构化供应链、内部 KB 与公司披露坐实每个亚洲候选;逐腿查真实行情和本地市场 price-in;候选不成立也要逐条给出有证据的 AVOID。

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