
Transgender athletes in limbo as Olympic sports grapple with USOPC ban
Earlier this week the USOPC quietly updated its athlete safety policy, 'to ensure that women have a fair and safe competition environment consistent with Executive Order 14201 and the Ted Stevens Olympic & Amateur Sports Act.'
In a letter reported by international media, USOPC chief executive Sarah Hirschland and board chair Gene Sykes justified the change by saying 'as a federally chartered organization, we have an obligation to comply with federal expectations.' The letter went on to say that the USOPC would work with National Governing Bodies (NGBs) under its umbrella to hammer out details.
Since taking office Donald Trump and the Republican-controlled Congress have pushed a number of executive orders limiting transgender participation in public life. Examples include preventing transgender women from using bathrooms that match their gender identity in federally owned buildings, threatening to withdraw federal funding from hospitals that provide gender affirming healthcare for transgender children and barring transgender girls and women from playing on sports teams that match their identity in schools.
Both California and Maine received threats from the Trump Administration over the potential to withhold federal funds unless transgender school sport inclusion policies were changed. Maine sued the administration after funds were withheld, settling out of court and not budging on changing its policies. Meanwhile, California's track and field state championships were mired in controversy after introducing a new policy that allowed transgender athletes to compete, but offered separate podium spots for cisgender athletes that were beaten by transgender athletes.
The long-term ramifications of the USOPC's decision remain up in the air. The committee did not respond to multiple requests and a detailed list of questions from the Chronicle about which level of athletes will be affected, or how the new policy came to be.
What levels this ban will apply to, however, have not been finalized, but will have an impact well beyond the U.S. national teams.
As part of its mission to administer Olympic sports in the United States the USOPC oversees 50 Olympic NGBs and a variety of Paralympic NGBs. The USOPC's decision to change its athlete eligibility policy exposes a tough reality for the IOC, which oversees 206 different National Olympic Committees.
The USOPC does not receive any federal funding, and as a private organization is not bound by federal policy. However, it does draw a significant amount of its athlete base from the NCAA and other school institutions.
Navigating a political landscape where different countries have different laws and regulations regarding gender identity in sports is the IOC's new reality after it spent close to a decade reviewing its landmark 2016 policy that allowed athletes to compete in the Olympic Games without the need for gender confirmation surgery. Previously, transgender athletes were first allowed to compete in the Olympic Games at Athens 2004, but required surgery to be eligible.
'This is a highly complex topic which has been approached by International Federations and National Olympic Committees in different ways depending on their sport and their national legislation and context,' an IOC spokesperson said in a statement to the Chronicle.
The body is now seeing NOCs and International Federations taking markedly different paths to implementing its 2021 'Framework on Fairness, Inclusion and Non-Discrimination on the Basis of Gender Identity and Sex Variations.'
That policy represented a marked shift for the IOC, delegating to international federations the responsibility to draft its own policies with regards to transgender, intersex and gender diverse athletes in their sports. Still, the policy called on federations to both respect people's gender identity and craft processes to draft policies that did not presume competitive advantages from transgender athletes.
Kirsty Coventry became the first woman to lead the IOC after she was elected president in June of this year. The new President is a staunch ally of outgoing president Thomas Bach, who oversaw both the 2016 and 2021 transgender inclusion policies. The same month of her election the IOC held a workshop on the future of transgender inclusion in women's sport, which led to 'overwhelming support…for the proposal that the IOC should protect the female category.'
'It was agreed by the IOC Members that the IOC should take a leading role in this, and should bring together experts and the International Federations, in order to look for a consensus,' the spokesperson added.
With the USOPC's decision to move in line with the Trump administration's political agenda and despite the lack of any federal laws banning transgender athletes, the new policy would not be considered government interference in a National Olympic Committee's affairs. If an NOC is found to have been influenced by a national government, the IOC could revoke its standing and bar athletes from competing under their national flag at the Olympic Games.
In addition, the IOC has offered athletes with barred NOCs or other extenuating political circumstances the chance to compete in the Olympics as independent or neutral athletes. It remains to be seen if transfeminine athletes from the United States can compete if rules for the international federations which organize competitions have more liberal transgender inclusion policies. How those athletes would compete in the United States in events organized by international federations, and not the USOPC or relevant NGBs, such as the Los Angeles 2028 Olympic Games or other World Championships, also remains an open question.
In the United States, some NGBs have attempted to begin answering some of these questions. At least one NGB, USA Fencing, changed its eligibility to reflect the updated policy from the USOPC. Other NGBs such as USA Track and Field and USA Swimming had previously updated their eligibility policies to be in line with their sports' international federations, which had placed strict requirements for participating transgender women – which many organizations have labeled de facto bans.
USA Fencing on its website says that it updated its eligibility policy to bring 'fencing into compliance,' with the new USOPC guidance and will be effective on Aug. 1. Previously in April, USA Fencing put on its website a ' proactive ' update to its inclusion policy that would not go into effect unless directed by the USOPC or the International Fencing Federation (FIE), which came from a 'months‑long review,' starting in 2023 according to USA Fencing Director of Communications Bryan Wendell.
'The policy applies to all USA Fencing‑sanctioned domestic competitions and categories, including amateur, veteran/masters, and youth events. Mixed‑gender local events remain unchanged,' Wendell told the Chronicle, and that there was 'no formal directive' from the USfOPC about this policy.
Transgender athletes competing at all levels told the Chronicle there remain a number of questions, such as whether all NGBs will extend this policy to include all competitions, including masters and amateur competition.
'[This] ambiguity is abject cowardice meant to shield USOPC leadership from consequences while creating a policy vacuum that will almost certainly hurt everyone that isn't a cisgender man,' Kristen Aliberto, a transfeminine player for the New York Exiles of Women's Elite Rugby said.
Without clarity, trans women have no idea where they will be able to compete in their sports going forward, if they are even able to, she added.
Athlete Ally, an advocacy organization dedicated to promoting inclusion for LGBTQ athletes in all sports, called the USOPC 'another example of an institution giving up their authority and expertise to politicians" in a statement. 'This rule change is not in response to new research or new guidelines from medical experts in sports. Instead, it is the result of mounting political pressure and government hostility toward one of the smallest minorities in society, let alone sports.'
The Ted Stevens Act from 1978 chartered the United States Olympic and Paralympic Committee. Executive Order 14201 was signed by President Donald Trump after his second inauguration, titled 'Keeping Men Out of Women's Sports,' and threatened to revoke federal funding to schools and institutions that allow transgender women from competing in women's sports. The order did not discuss intersex or transgender male athletes, instead designating that the only athletes able to compete in 'women's' events were those assigned female at birth by a doctor.
Almost immediately, the NCAA announced it would comply with the executive order and updated its athlete eligibility policy, a change that affected 'less than 10' student-athletes among more than 500,000 playing college sports in the U.S.
For U.S. transfeminine athletes, Olympic dreams appear to have been shattered, with little recourse for how this conflicting set of rules aligns with the current patchwork international sport system. And for amateur athletes, there will be questions about how far NGBs go in banning transfeminine athletes in masters and youth events not organized in school settings. Legal challenges in both the U.S. court system and the Court of Arbitration for Sport remain possibilities.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
7 minutes ago
- Yahoo
Stock market today: Dow jumps 500 points, S&P 500, Nasdaq rally in bounce back from Friday sell-off
US stocks rebounded sharply Monday, recovering from last week's sell-off sparked by disappointing labor data and continuing trade uncertainty. The benchmark S&P 500 (^GSPC) climbed 1.4%, while the blue-chip Dow Jones Industrial Average (^DJI) rose 1.3% or more than 500 points. The tech-heavy Nasdaq Composite (^IXIC) led the gains, rising about 1.7%. The moves follow a sharp pullback on Wall Street on Friday. All three major indexes posted their worst weekly declines in months, ending a run of positive market moves. The declines were exacerbated Friday after July's jobs report came in weaker than expected, and previous months' tallies were revised sharply lower, flipping the narrative on the labor market's strength. It led President Trump to lash out at the Bureau of Labor Statistics (BLS), which publishes the monthly jobs report, and fire its commissioner. Trump suggested he would nominate a new head for the agency in the coming days. Trump's battle with the Fed and Chair Jerome Powell has also remained in focus. Traders tempered expectations around interest rate policy following the bank's decision last week to leave rates unchanged for a fifth consecutive meeting. But after the weak jobs data, almost 90% of bets are on a cut in September. At the same time, investors are examining fallout from Trump's implementation of tariffs. The updated tariffs set to come into full effect this week range from 10% to 41% on a wide range of trading partners and raise concerns about rising costs amid broader inflationary pressures. On Monday Trump said he would be "substantially raising" tariffs on India as he presses to stop purchasing Russian oil, effectively accusing the nation of subsidizing Russia's war in Ukraine. Meanwhile, Tesla (TSLA) stock edged higher after reports emerged that the company had granted CEO Elon Musk 96 million shares worth about $29 billion. Read more: The latest on Trump's tariffs Earnings season continues to roll on with a busy week of corporate releases. Over 100 S&P 500 companies are set to report, with spotlights on Palantir (PLTR), Eli Lilly (LLY), and Disney (DIS). American Eagle stock rises 16% after Trump weighs in on viral Sydney Sweeney ad Yahoo Finance's Jake Conley reports: Read more here. Amazon's slowing cloud growth could continue to drag on its stock Yahoo Finance's Francisco Velasquez reports: Read more here. Tariffs not expected to cause recession or end bull market, says UBS As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. Trump says he will 'substantially' raise tariffs on India President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. Tesla shares jump 3% as board approves $30 billion alternative pay deal for Musk Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Stocks open higher following market sell-off US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. Trending tickers in premarket trading: Opendoor, Palantir, Tesla, Joby, Tyson Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Wayfair stock surges after online furniture retailer swings to a profit Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Good morning. Here's what's happening today. Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Oil slides as traders assess OPEC+ hike and Russian risks Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Morgan Stanley's Wilson: Buy stocks dip on earnings strength Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Citi's gold bears turn bullish on US growth, inflation concerns Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Goldman with a sobering view on the consumer Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Swiss stocks decline on US tariffs, push for lower drug prices Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Gold steady with weak job data bolstering the precious metal Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. American Eagle stock rises 16% after Trump weighs in on viral Sydney Sweeney ad Yahoo Finance's Jake Conley reports: Read more here. Yahoo Finance's Jake Conley reports: Read more here. Amazon's slowing cloud growth could continue to drag on its stock Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Tariffs not expected to cause recession or end bull market, says UBS As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. Trump says he will 'substantially' raise tariffs on India President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. Tesla shares jump 3% as board approves $30 billion alternative pay deal for Musk Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Stocks open higher following market sell-off US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. Trending tickers in premarket trading: Opendoor, Palantir, Tesla, Joby, Tyson Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Wayfair stock surges after online furniture retailer swings to a profit Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Good morning. Here's what's happening today. Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Oil slides as traders assess OPEC+ hike and Russian risks Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Morgan Stanley's Wilson: Buy stocks dip on earnings strength Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Citi's gold bears turn bullish on US growth, inflation concerns Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Goldman with a sobering view on the consumer Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Swiss stocks decline on US tariffs, push for lower drug prices Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Gold steady with weak job data bolstering the precious metal Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here.
Yahoo
7 minutes ago
- Yahoo
American Eagle stock surges after Trump weighs in on viral Sydney Sweeney ad
American Eagle (AEO) stock rose as much as 21% on Monday after President Trump waded into the discussion about the company's viral ad campaign featuring Sydney Sweeney. "Sydney Sweeney, a registered Republican, has the 'HOTTEST' ad out there," Trump wrote in a post on Truth Social, the social media platform he owns. "It's for American Eagle, and the jeans are 'flying off the shelves.' Go get 'em Sydney!" The campaign features a play on homophones — "Sydney Sweeney has great jeans" and "Sydney Sweeney has great genes" — that quickly generated controversy around the potential ambiguity of the ad's message. American Eagle responded to the accusations on Sunday in a post on its Instagram page: "'Sydney Sweeney has great jeans' is and always about the jeans. Her jeans. Her story." Read more about American Eagle's stock moves and today's market action. Shares of the retailer have been volatile since the ad campaign was rolled out in late July. Late last month, the stock was lumped in with other meme plays, a trade that has begun to fizzle out over the past week. Trump's post on Monday also alluded to recent advertising campaigns from companies including Jaguar and Bud Light, which saw both brands embroiled in controversies around messaging derided by critics as "woke." Last week, Jaguar Land Rover announced its CEO Adrian Mardell would step down from the top job after three decades with the company, attributing the move to Mardell's wish to retire. A successor has not yet been announced. "The tide has seriously turned — Being WOKE is for losers, being Republican is what you want to be," Trump wrote. Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


New York Post
8 minutes ago
- New York Post
Ben Shelton has tense exchange with Flavio Cobolli after ‘gesture' late in match
There was some unexpected drama in Toronto on Sunday at the ATP 1000. American tennis phenom Ben Shelton confronted Italian Flavio Cobolli in a tense exchange at the net after their match. After narrowly defeating Cobolli, 6-4, 4-6, 7-6 (1), Shelton mimicked a gesture he saw his opponent do in the tiebreaker and asked if it was directed at him. 4 Ben Shelton, right, has a tense discussion with his defeated opponent, Italy's Flavio Cobolli, left, following their match at the National Bank Open men's tennis tournament in Toronto, Sunday, Aug. 3, 2025. AP Cobolli, 23, clarified that it wasn't about Shelton and they shared a handshake, as seen in a video on social media. 'You deserve it, this match, but it's not always with you,' Cobolli said. They took things to the sidelines, where Cobolli reiterated it wasn't about Shelton. 'And if you do say something [directed at me], then I'm going to say something to you because we're friends, no?' said Shelton, who was shirtless at this point, said. Cobolli replied, 'Of course.' The two shared another handshake. 'But you said it's not [about] me, we cleared it up and we're good. I'm sorry about the match,' Shelton, 22, said. 'It's one match I don't care. You won and that's it,' Cobolli said. 'You can understand my frustration, no?' 4 Ben Shelton, right, has a tense discussion with his defeated opponent, Italy's Flavio Cobolli, left, following their match at the National Bank Open men's tennis tournament in Toronto, Sunday, Aug. 3, 2025. Getty Images 4 Italy's Flavio Cobolli, left, tells Ben Shelton, right, that he did not make a gesture directed at him following their match at the National Bank Open men's tennis tournament in Toronto, Sunday, Aug. 3, 2025. Getty Images Shelton, who pondered for a second, replied, 'I can. We'll talk.' During his post-match press conference, Shelton said they spoke again in private. 'He just made a gesture in the tiebreaker (and I) asked him about it. He said it wasn't towards me so we're cool,' Shelton said. 4 Ben Shelton celebrates after his win over Italy's Flavio Cobolli in their match at the National Bank Open men's tennis tournament in Toronto, Sunday, Aug. 3, 2025. AP 'We're good. We talked about it in the locker room, so I'm not going to answer any more questions about that. There's no story, we're good, that's it, so, thanks.' Shelton, ranked world No. 7, is scheduled to face eighth-seeded Alex De Minaur in Tuesday's quarterfinal.