airport, walking, waiting-4120835.jpg

Today in the Market (6/29/2023)

Good Evening! On Thursday, there was an increase in stock prices, following the release of recent data that highlighted the ability of the US economy to withstand the interest rate hikes implemented by the Federal Reserve.

The Dow Jones rose the most today by 0.80%, while the S&P 500 followed behind at 0.40%. However, the Nasdaq Composite finished the day flat at 0.00%.


Nike (NKE) announced its financial results for the fourth quarter, revealing sales figures that exceeded market expectations. However, the company’s profits were slightly lower than anticipated. Let’s see those numbers!

  • Revenue: $12.83 Billion vs. $12.59 Billion Expected 
  • Gross Margin: 43.6% vs. 43.5% Expected
  • Earning Per Share: $0.66 vs. $0.67 Expected

What else? Nike demonstrated a notable resurgence in the Greater China region, achieving sales amounting to $1.81 billion, surpassing the projected figure of $1.64 billion as anticipated by analysts. The inventories exhibited little change compared to the previous year, ultimately promoting confidence that Nike has successfully addressed its surplus inventory issue.

It’s not enough yet… Nike experienced a decline as it approached the release of its report, with shares witnessing a 6% decrease Year to Date. Furthermore, analysts have reduced their price targets for shares of the company in the past few weeks. Why? Concerns had circulated regarding the declining demand in North America and the challenges faced in achieving revenue growth in Greater China as a result of the COVID-19 restrictions.


terminal, gate, waiting-1160262.jpg

The confluence of thunderstorms and insufficient staffing resulted in a total of over 20,000 flights experiencing delays and approximately 5,000 flights being canceled throughout the U.S. during the past week. And with the approach to the upcoming Fourth of July weekend, the TSA has predicted that tomorrow will witness the highest volume of air travel since the beginning of the pandemic.

What’s going on? The adverse weather conditions are not helpful to the situation, and a shortage of workers persists despite an increase in travel following the pandemic. The CEO of United Airlines, Scott Kirby, related the airline’s significant number of cancellations to staffing challenges within the Federal Aviation Administration (FAA) and he is not the only one facing this issue according to an audit conducted by the FAA.

  • According to the audit, 77% of critical facilities such as Air Traffic Control, are currently operating with staffing levels that fall below the threshold of 85% which is deemed necessary to operate.

It doesn’t end there… According to recent reports, it is anticipated that the introduction of a new 5G service will potentially lead to an increase in flight disruptions. This is primarily due to the possibility of wireless transmissions interfering with aircraft lacking updated equipment

Scroll to Top

Where Are You On Your Investment Journey?




All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.


Contact Us

Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?