TLDR 

MARKET RECAP → .The S&P 500 (VOO) dipped slightly on Friday, struggling to dodge a fifth consecutive weekly loss as trade tensions, recession worries, and a slump in megacap tech stocks weighed on sentiment.

ACCENTURE IS DOGE’S FIRST CORPORATE CASUALTY→ 📉 Accenture shares sank as federal contract cuts under Trump’s government efficiency push hit revenue, making it the first big corporate casualty of DOGE.

NIKE FORECASTS TOUGH Q4 AMID TARIFFS AND WEAK SPENDING → 👟 Nike warned of a steep Q4 sales drop as tariffs, soft consumer spending, and stale inventory forced a reset—just as it tries to run faster toward a comeback.

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TODAY’S TOP NEWS

Accenture Is DOGE’s First Corporate Casualty

📉 Shares of Accenture dropped 7.3% after the firm warned that Trump’s Department of Government Efficiency (DOGE), led by Elon Musk, had triggered a slowdown in federal procurement, cutting into its revenue. Federal contracts accounted for 8% of Accenture's global revenue in FY2024.

💼 Accenture's CEO said new government reviews are pausing or canceling consulting deals deemed non-essential. The General Services Administration advised agencies to scrutinize top-paid firms, further fueling the uncertainty.

📊 Despite beating Q2 earnings and revenue expectations, the stock fell due to investor fears around continued federal spending cuts. Booz Allen Hamilton was caught in the crossfire too, sliding 8.1% on similar concerns.

TODAY’S TOP NEWS

Nike Forecasts Tough Q4 Amid Tariffs And Weak Spending

🥾 Sales Took a Hit: Nike warned of a mid-teens sales drop for its fiscal Q4, citing tariffs, shaky consumer confidence, and excess inventory liquidation. Q3 revenue fell 9%, with China leading the slump and gross margins dropping due to discounting and outdated styles.

📉 Tariffs and Consumer Pullback: Roughly a quarter of Nike’s suppliers are in China, making the brand vulnerable to Trump’s 20% tariffs. The company didn’t say if it would raise prices but acknowledged economic uncertainty is hitting consumer demand—especially in discretionary spending.

👟 Turning to Innovation and Women: Despite the headwinds, Nike is betting big on innovation and its women’s category. New products like the Pegasus Premium and a SKIMS collab are key to its reset strategy, while CEO Elliott Hill emphasized reconnecting with wholesale partners and revitalizing brand relevance.

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