1251 ET - Privacy coin Zcash, in the midst of a volatile year that saw prices spike near all-time highs, is making advances in insulating itself from being cracked by quantum computing. Research published by CoinDesk, which the firm says was commissioned by a group called GenZcash, says that Zcash has roadmaps for both scaling its chain and making it resistant to quantum computing designed to break confidentiality. "We can have the best of both worlds, a private digital payment network that scales to billions of users by fully leveraging both zero-knowledge and verifiable computation" says Sean Bowe, head of Project Tachyon, which is focused on scaling the Zcash blockchain. Zcash is trading up 3.7% to $414, according to data from LSEG. (kirk.maltais@wsj.com)
1139 ET - Nike's financial report gives mixed signals about the health of Dick's Sporting Goods, DA Davidson analysts say. Nike's North American wholesale business, which includes Dick's, increased by 10%, but that was a slowdown from last year's 11% growth. Nike also flagged sluggish traffic in April, as gas prices were climbing. While Nike said consumers appear to be recovering, the analysts note that their own point-of-sale data for Dick's shows a decline in May and June. (katherine.hamilton@wsj.com)
1110 ET - U.K. stocks have favorable valuations and provide diversification from AI investments, Helen Jewell, International CIO, fundamental equities at BlackRock says at their 2026 midyear outlook media roundtable. The U.K. equities market has stocks in the commodities sector, energy sector, and big banks which look attractive, she says. U.K. stocks look underpriced because they have been left out of the AI rally, Jewell says. (miriam.mukuru@wsj.com)
1107 ET - Data center investment management firm Cloud Capital says it established a joint venture with Realty Income and an undisclosed global institutional investor. The JV is seeded with three initial investments valued at more than $6 billion, according to Cloud Capital, and focuses on stabilized hyperscale assets leased to investment-grade tenants on long duration. "Drawing on more than 30 years of investing in and leasing some of the world's largest data centers through multiple cycles, I have seen firsthand the importance of acquiring and developing high-quality assets and long-term tenant relationships," Cloud Capital CEO Hossein Fateh says. "We believe this positions our partners to benefit from exposure to highly strategic data centers underpinned by accelerating demand for cloud and AI applications." (connor.hart@wsj.com)
1103 ET - The pace of layoffs cooled considerably in June, according to a recent job cuts report from Challenger, Gray & Christmas. U.S.-based employers announced 45,849 job cuts in June, down 53% from May. Technology once again led the decline, with 15,503 job cuts in June for a total of 139,156 in 2026. AI also led the reason for job cuts for the fourth month in a row. "AI is the dominant force as companies are restructuring around it, automating roles, and reallocating budgets toward new capabilities. The sector is being reshaped in real time," said Andy Challenger, chief revenue officer of the firm. (jessica.coacci@wsj.com)
1022 ET - Asking prices fell 2.5% year-over-year in June, Realtor.com says, the eighth consecutive month of decreases. Pending sales rose 3.7% year-over-year for the seventh straight month of growth. For the first time in 26 months, homes spent no more time on market than they did a year earlier, a further indication buyers are showing up as the market rebalances, Realtor.com says. The national median list price was $430,000 in June, flat from May, but down 2.5% from a year ago. (chris.wack@wsj.com)
0952 ET - Bitcoin ETFs continued to shed money in yesterday's trading session, closing out the month of June and the second quarter of 2026 with a $222.6 million outflow from ETFs, according to data from Coinglass. Net outflows from bitcoin ETFs have been continuous for more than two weeks now, according to Coinglass data. Similar is true for ether ETFs, while solana and XRP ETFs have had a mixed showing — although the volume of these ETFs are only a fraction of what bitcoin ETFs reports. Cryptocurrencies are trading higher, with bitcoin up 0.3%, ethereum up 0.2%, XRP up 0.1%, and solana up 2.3%. (kirk.maltais@wsj.com)
0935 ET - President Trump's financial disclosure, which showed that he made over $1B off of cryptocurrency-based endeavors last year, is proof of crypto's entrance into mainstream finance, says Nigel Green of deVere Group in a note. "Digital assets are now firmly embedded in the global financial system," says Green. "Crypto businesses have become large enough and influential enough to rival traditional industries that have dominated major wealth creation for generations." Trump made much of his money through royalties from his Trump memecoin, as well as token sales by the Trump crypto venture World Liberty Financial, the WSJ reports. Major cryptocurrencies are inching higher this morning, with bitcoin up 0.2% to $58,763, ethereum up 0.1% to $1,575, and XRP up 0.1% to $1.04. (kirk.maltais@wsj.com)
0904 ET - Oil futures are lower as the market removes some more risk premium with the U.S. and Iran continuing to pursue a deal and tankers moving through the Strait of Hormuz. "Physical market weakness, Brent's contango structure, rising exports from Iran and record Russian shipments point to improving global supplies," analysts at Kotak Neo say in a note. "Improving supply flows and expectations of a sizeable global surplus remain the dominant bearish drivers, while any disruption to Hormuz traffic or breakdown in diplomatic negotiations could quickly revive geopolitical risk premium and support crude prices." WTI is off 1.1% at $68.74 a barrel, and Brent is down 1.5% at $71.84 with the September contract moving to the front of the curve.(anthony.harrup@wsj.com)
0901 ET - General Mills' pet food segment is flourishing, even though consumers are spending less on food for themselves. During F4Q, the company's North American pet segment sales increased 4%, driven by a double-digit percentage increase in cat food and low-single-digit percentage increase in dog food. Meanwhile, sales in the retail segment, which includes General Mills' cereals, fell 4%. The company described the current consumer backdrop as "challenging," but plans to invest more in "pet humanization" in the year ahead, as shoppers are still willing to spend on their furry companions. General Mills is up 4% premarket. (katherine.hamilton@wsj.com)
0853 ET - Private employers added 98,000 jobs in June according to the latest ADP private payrolls report following a 122,000 gain in May. Economists polled by WSJ were expecting 110,000 in June. "The pace of hiring is telling a story of both supply and demand. We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries," says Dr. Nela Richardson, Chief Economist of ADP in the report. June payroll numbers from the U.S. Labor department are due on Thursday and economists polled by WSJ expect 115,000 versus May's 172,000. The 10-year yield is 4.49% versus 4.42% Tuesday. The two-year yield is 4.19% compared to 4.14%. (patrick.sheridan@wsj.com)
0449 ET - Nike's emphasis on its sports business is showing early signs of paying off, though performance in China remains a drag on the company, Jefferies analysts write. The sportswear group's fiscal fourth-quarter results were better than feared, the analysts say. A renewed emphasis on sporting goods under Chief Executive Elliott Hill's "sport offense" was validated by a return to growth in Nike wholesale, the analysts say. However, weakness in direct sales through Nike stores and the company's app, as well as weakness in China, are the main challenges Nike faces. Shares fall 3.3% premarket, while European sports retailers also fall following the earnings. Adidas shares are down 1.3%, while Puma and JD Sports' London-listing drop 1.5% and 1.4%, respectively. (josephmichael.stonor@wsj.com)