Walmart, Fed’s Powell and Dick’s Sporting Goods, Footlocker deal: Live Updates
As President Trump’s Middle East trip continues, investors are refocusing on the basics with Walmart earnings, producer inflation, remarks from Federal Reserve chairman Jerome Powell and a blockbuster retail merger. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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The White House on Wednesday announced that it has secured economic commitments worth at least $1.2 trillion from Qatar, including a historic deal for Boeing jetliners.
President Donald Trump was in Qatar on the second stop of his Middle East trip and the White House said he "signed an agreement with Qatar to generate an economic exchange worth at least $1.2 trillion." That figure includes "economic deals totaling more than $243.5 billion between the U.S. and Qatar."
The White House said that Boeing and GE Aerospace landed a deal with Qatar Airways worth $96 billion to acquire up to 210 Boeing 787 Dreamliners and 777X aircraft, which are powered by GE Aerospace engines.
That marks the largest-ever order for Boeing's widebody aircraft, as well as the largest-ever 787 order. The White House said the deal "will support 154,000 U.S. jobs annually," which would total more than 1 million jobs over the production and delivery cycle for the deal.
This is an excerpt from an article by Fox Business’ Eric Revell. To read more, click here .
Traders work on the floor of the New York Stock Exchange in New York City. (Reuters)
Stocks were mostly higher on Thursday, with the S&P climbing for a fourth-straight session, on continued tariff deal optimism.
The Dow Jones Industrial Average finished 271.69 points, or 0.65%, higher while the S&P 500 rose 0.41%. The Nasdaq Composite fell 0.18%.
UnitedHealth group shares tumbled after The Wall Street Journal reported that the Justice Department is investigating the health insurer for fraud.
Stocks finished mostly higher on Wednesday as investors eye potential trade deals.
The Dow closed 89.37 points, or 0.21%, lower while the Nasdaq Composite climbed 0.72%. The S&P 500 eked out a small gain of 0.1%.
Investors waited on a potential trade deal from President Donald Trump’s meeting with Syria’s president in Saudi Araba despite a wave of optimism over a U.S.-China tariff truce earlier in the week.
President Trump, during his busy Middle East trip, took a moment to call out Apple CEO Tim Cook, making it clear he wants iPhones built in the U.S. not elsewhere.
Apple shares were marginally lower Thursday, but are on track to clock a weekly gain of around 6%. For the year, the stock is down 15%.
A group of Starbucks workers are unhappy with the company's dress code but they claim there are more problems at the coffee giant. New CEO Brian Niccol is making changes to help turnaround the company.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DKS | $178.44 | -31.17 | -14.87 |
| FL | $23.74 | 10.87 | 84.46 |
| NKE | $62.23 | 0.50 | 0.81 |
(Photo by Najlah Feanny/Corbis via Getty Images)
Dick's Sporting Goods will buy Footlocker in a deal valued at $2.4 billion.
Footlocker shares soared over 80% in early trading. The athletic shoe retailer is the biggest seller of Nike. A deal helps give Dick's an edge with brands including Michael Jordan's line, as well as partnerships with the NBA and other newer collaborations such as Kim Kardashian's Skims.
"We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve," said Ed Stack, Executive Chairman of DICK'S. "We believe there is meaningful opportunity for growth ahead. By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker's position in the industry. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports retail consumers."
The Wall Street Journal was first to report deal talks late Wednesday.
New Jersey Gov. Phil Murphy and Netflix co-CEO Ted Sarandos pose as they break ground on a new studio in New Jersey.
Netflix has broken ground on its $1 billion "state-of-the-art" East Coast studio in New Jersey as President Donald Trump pushes to have movies made in America.
The $1 billion investment by Netflix will transform Fort Monmouth’s 292-acre army installation into a nearly 500,000-square-foot studio.
The studio will feature 12 cutting-edge sound stages and areas dedicated to supporting film uses and community amenities, according to Netflix.
The project was announced in 2022, and demolition is expected to take 13 months.
Netflix expects the project to create an estimated 1,500 permanent production jobs and more than 3,500 construction-related jobs. It is expected to be finished sometime in 2028.
This is an excerpt from an article by Fox Business’ Nick Butler. To read more, click here.
Walmart – the nation’s largest private employer – warned of possible price hikes on Thursday given the uncertainty in the tariff environment.
"We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins," Walmart CEO Doug McMillon said in a statement as the retailer reported its first quarter results, which met Wall Street expectations.
Despite the tariff uncertainty, the company said it "will play offense and may opportunistically invest" in areas to improve its value proposition.
McMillon is one of a handful of notable executives that recently met with President Donald Trump to discuss ongoing trade negotiations with other nations and the impact of tariffs imposed on imported products.
A Walmart spokesperson told FOX Business that McMillon's meeting with Trump and his team last month was "productive," and that the company appreciated the chance to share its insights.
This is an excerpt from an article by Fox Business’ Daniella Genovese. To read more, click here.
Chinese shipping containers sit on rail road tracks at the Port of one Beach, California, U.S. May 5, 2025. REUTERS/David Swanson
Chinese imports entering the U.S. have dropped to the lowest levels since the pandemic, according to recent census trade data.
A report from the Commerce Department showed a record number of goods from 10 countries, including Mexico and Vietnam, although the imports from China were the lowest in five years and possibly will drop further as President Donald Trump has hiked duties on Chinese goods to a staggering 145%, according to data collected by Reuters.
Chinese products have accounted for a smaller share of U.S. trade than in past decades.
Trade experts are saying the cause of the shift is due to the on-and-off tariffs set by the Trump administration.
On Monday, Trump announced a “total reset” with China, detailing a tariff truce that will lower the overall tariff on Chinese imports from 145% to 30% for a 90-day period, while China reduces its tariffs from 125% to 10%.
This is an excerpt from an article by Fox Business’ Christina Shaw. To read more, click here.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $42,051.06 | -89.37 | -0.21 |
| SP500 | $5,892.58 | 6.03 | 0.10 |
| I:COMP | $19,146.81 | 136.72 | 0.72 |
Stocks finished mostly higher on Wednesday as investors eye potential trade deals.
The Dow Jones Industrial Average closed 89.37 points, or 0.21%, lower while the Nasdaq Composite climbed 0.72%. The S&P 500 eked out a small gain of 0.1%. Investors waited on a potential trade deal from President Donald Trump’s meeting with Syria’s president in Saudi Araba despite a wave of optimism over a U.S.-China tariff truce earlier in the week.
Stocks finished mostly higher on Tuesday, extending the prior session's rally, on softer inflation data and trade optimism.
Trump was meeting with interim Syrian President Ahmad al-Sharaa in Saudi Arabia on Wednesday after saying he would move to lift U.S. sanctions imposed on Syria under the ousted former president Bashar al-Assad.
Reuters contributed to this report.
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