Nike $NKE just delivered a long-awaited victory, and Wall Street took notice.

The $104B athletic apparel giant posted a double beat and soared over 15%, marking its best earnings reaction since 2021. 

That rally also snapped a brutal streak of 4 consecutive negative reactions.

For months, the stock has been stuck in a downtrend, weighed down by concerns around bloated inventory, margin pressure, and lackluster growth in Greater China. 

This quarter signaled a meaningful shift.

Revenue came in stronger than expected, and gross margins expanded. This is a clear sign that Nike is regaining control of its supply chain and promotional strategy. 

Perhaps most importantly, the company highlighted improving demand trends across key geographies and product categories.

This wasn’t just a “less bad” quarter. It was a decisive step forward.

Management acknowledged past mistakes and laid out a clear path to profitable growth, with a renewed focus on core franchises, channel productivity, and cost discipline.

After a challenging period, Nike is starting to resemble its former self again. It's an iconic American brand...

Welcome to The Weekly Beat.

We’re nearing the end of earnings season, but the action hasn’t slowed down.

Last week brought a mix of surprises — a grocery chain ripped higher, a semiconductor giant was punished for a double beat, and a cruise line delivered one of its best quarters ever.

This week, however, things are shifting.

It’s shaping up to be one of the quietest stretches of the year for earnings, with just a few companies set to report.

With fewer new catalysts, our focus will shift to reviewing the most important reactions of the season and identifying the names that show the strongest trends as we head into Q3 of 2025.

In this week’s recap, we'll cover the biggest takeaways from last week and preview the setups we’re watching next.

• Monday:
  • Kroger $KR reported mixed results and rallied nearly 10% on the news. E-commerce sales grew 15% year-over-year, which management called the "best profit improvement yet on a quarter-over-quarter basis" for the...

We’ve been pounding the table on Copper futures since China started ripping last year.

However, it has been a slower start than we anticipated.

Now, our patience is being rewarded... We're seeing evidence that the trade is heating up.

Copper futures are trading at fresh all-time highs as they play catch-up with Gold futures.

We're also beginning to see the Copper miners play catch-up to the underlying commodity.

This has been on our radar for months, but we've only recently seen significant changes.

The red line represents Copper futures, and the blue candlesticks represent the Global X Copper Miners ETF $COPX. 

Historically, these two have danced together.

However, that relationship broke down earlier this year as the futures reached new...