🇺🇸 Nike bless America

Nike just does it | Ugh, you used to be cool, SPACs | [Finimize]( Hi {NAME}, here's what you need to know for June 28th in 3:05 minutes. 💰 The weed market is growing, and the companies involved are too. Join Webjoint’s CEO for [Investing In The Cannabis Supply Chain]( on June 28th, and find out how you can get high on their supply. [Get your ticket today]( Today's big stories - Sportswear giant Nike reported a much stronger quarterly update than analysts expected - Stocks are expensive, sure, but there are six good reasons their rally might be far from over – [Read Now]( - The latest rebalancing of the Russell 3000 index shows SPACs are legit U-Nike-ted States Of America [U-Nike-ted States Of America] What’s Going On Here? This is Nike’s country, we’re just living in it: the sportswear giant reported strong results on the back of resurgent American sales late last week, and its stock initially jumped 13%. What Does This Mean? Nike’s quarterly revenue and profit both came in ahead of forecasts, while its ecommerce sales kept doing their thing: they were up 41% versus the same time last year. But the real winners were its North American business – whose revenue more than doubled from this time last year to hit a record high – and its wholesale arm. That segment sells the company’s products to the likes of Foot Locker and Dick’s Sporting Goods, and it did well out of the fact that those retailers were actually, y’know, open. Why Should I Care? For markets: It’s about quality, not just quantity. Nike’s Chinese business made up for a lot of lost growth during the pandemic, but political disruptions in the country can cause issues at a drop of a hat. Case in point: the company expressed concern last quarter about allegations of forced labor in Xinjiang, and consumers threatened to boycott the brand. Investors, then, will have been glad to see Nike’s all-important US market roar back to life – especially since it encouraged the company to up its earnings forecast for the rest of the year. The bigger picture: Nike and FedEx go hand in hand. Logistics giant FedEx has been benefiting from Nike and its rival retailers’ booming ecommerce sales, and that played a big part in the stronger-than-expected quarterly sales it shared on Friday. The company’s profit would’ve beaten expectations too, but pension-related costs got in the way. That ultimately deterred the company from making an earnings forecast for this year, which might be why – despite everything else going to plan – investors sent its stock down on the announcement. You might also like: [The other unstoppable trends you might want to invest in.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=U-Nike-ted States Of America&utm_campaign=daily-global-28-06-2021&utm_source=email) 2. Analyst Take Don’t Give Up On Stocks Just Yet What’s Going On Here? The dust has settled after last year’s ugly coronavirus-inspired crash, and global stocks have risen [nearly 90%]( from last year’s lows. Unsurprisingly, that’s brought out the naysayers who see a bubble that’s [destined to burst]( before long. And it’s true that stocks are unlikely to give blockbuster returns at current valuations – and it’d certainly be hard to argue that the market is anything approaching a bargain. But actually there are [a few very good reasons]( not just why stocks aren’t necessarily going to crash, but why their rally could have further to run. So that’s today’s Insight: [the six reasons stocks’ rally might be far from over](. [Read or listen to the Insight here]( 🤝 Fancy working with us? If your business shares our goal of changing the world of finance for the better, there’s no better place to showcase your mojo than [this very spot]( in our daily newsletter. You’ll get your message out to more than one million engaged investors, and speak directly to the very people who can help take your business to the next level. Interested? [Just drop us a line](. [Get In Touch]( Eau De Stooge [Eau De Stooge] What’s Going On Here? The Russell 3000 index underwent its annual rebalancing on Friday, and it’s clear that SPACs – once the outsiders of the investing world – are well and truly part of the corporate in-crowd. What Does This Mean? The Russell 3000 – which aims to be a benchmark of the entire US stock market – measures the performance of the 3,000 most valuable listed US companies and represents approximately 98% of the value of all American stocks. And once a year, it’s “rebalanced”: that is, the companies that are too small to qualify are removed, and those that have grown in value are added. So far, so normal. What’s unique about this rebalancing is that 20% of the newly added companies are firms that joined the stock market by merging with a special-purpose acquisition company (SPAC). Why Should I Care? Zooming in: There’s no escaping SPACs. Some investors are still skeptical about SPACs, and with fair reason: the companies have to agree a merger within two years of listing or else return the cash they raised, which means they might strike deals for the sake of it. Regulatory issues surrounding Lordstown Motors and Nikola won’t have done much to change their minds either. Now, though, they’ll have no choice but to accept SPACs, which – as part of a major index – will be included in the passive funds some of them track. For markets: Cue the upheaval. A company’s stock price tends to get a lift when it joins the Russell 3000, as investment managers and passive funds – which have around $10.6 trillion tracking Russell’s US indexes collectively – rush to buy up its shares ([tweet this](). The reverse is true too: investors tend to ditch the shares of anything that leaves the index. So when you consider that more than 250 companies were estimated to be added on Friday, you can bet there’ll have been a lot of volatility for investors to contend with. You might also like: [Why SPACs are still all the rage.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Eau De Stooge&utm_campaign=daily-global-28-06-2021&utm_source=email) 💬 Quote of the day “A surplus of effort could overcome a deficit of confidence.” – Sonia Sotomayor (an Associate Justice of the Supreme Court of the United States) [Tweet this]( SPONSORED BY ELECTRIC Electrify your IT, beat the competition Isn’t it annoying when something goes wrong with your IT at precisely the wrong time? Scratch that. It’s always precisely the wrong time. With [Electric](, you’ll get [real-time IT support](right when you need it. Electric’s solutions are [chat-based and lightning-fast](, which means no more wasted hours on the phone. Time is money, after all. In fact, according to Forrester’s Total Economic Impact report, companies that use [Electric]( experience a 105% return on their investment. Put simply, they make up the entire cost in the time they save. 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