BUSINESS NEWS TODAY – FRIDAY, JUNE 5, 2026
- After the Dow reached a new record high on Thursday, stock futures are mixed on Friday, with the S&P 500 dipping 0.52%, the Dow up 0.06%, and the Nasdaq down 1.15%.
- Bitcoin’s value has dropped again, falling to below $62,000 on Friday morning.
- Biggest gainers from Thursday’s trading are ChronoScale Corporation (+22.69%) and ABIVAX Societe Anonyme (+16.39%). Biggest losses are PVH Corp. (-20.24%) and Netskope, Inc. (-19.11%).
On Thursday, June 4:
- The S&P 500 added 30.63 points to 7,584.31
- The Dow Jones Industrial Average jumped 874.86 points to 51,561.93
- The Nasdaq composite lost 23.02 point to 26,830.96
For The Week:
- The S&P 500 has gained 4.25 points (0.1%)
- The Dow has added 529.47 points (1%)
- The Nasdaq has fallen 141.66 points (0.5%)
For The Year:
- The S&P 500 has increased 738.81 points (10.8%)
- The Dow has grown by 3,498.64 points (7.3%)
- The Nasdaq has added 3,588.97 points (15.4%)
American Airlines To Temporarily Suspend Some Summer Routes
Citing higher fuel costs, American Airlines is temporarily suspending some of its routes this summer.
In a statement, American said it had adjusted service on “select routes” in August and September and that affected travelers would be offered alternative arrangements or refunds. The airline says the decision is in line with wider industry trends.
The airline did not confirm which routes would be suspended, but reports indicate flights out of Los Angeles may be the most impacted by the decision. American did say the suspension is not indefinite and it remains proud to “offer an industry-leading network with more flights than any other U.S. airline.”
Jet fuel, which has risen in price significantly since the war with Iran, can account for up to 30% of an airline’s total expense.
Long-Term Mortgage Rates Dip
The average long-term U.S. mortgage rate eased this week from its highest level in nine months. The benchmark 30-year fixed rate mortgage rate fell to 6.48% from 6.53% last week, mortgage buyer Freddie Mac said Thursday. The average rate remains below 6.85%, where it was a year ago. When mortgage rates decline they give homebuyers more purchasing power.
As recently as late February, the average rate on a 30-year mortgage had slipped just under 6% for the first time since late 2022. It’s hasn’t fallen below that threshold since. Last week, it surged to its highest level since August 28, when it was 6.56%. While average long-term mortgage rates remain lower than they were at this time last year, their mostly upward trajectory and uncertainty over how much higher they may go as bond markets react to the economic fallout from the conflict in the Middle East have been a drag on the housing market.
Existing home sales were flat in April. The May home sales report is due next week.
Lululemon Reports Sales Decrease
VANCOUVER, British Columbia–(BUSINESS WIRE)– lululemon athletica inc. today announced financial results for the first quarter of fiscal 2026, which ended on May 3, 2026.
Meghan Frank, Interim Co-CEO and Chief Financial Officer, stated: “We experienced a solid start to 2026 as our teams executed with speed, agility, and discipline. Our work to drive improvements in North America resulted in some positive signals in the quarter, including a sequential improvement in full-price sales. More recently, we have been navigating headwinds that have led us to adjust our outlook for the full year. We have assessed the business and are taking additional actions to reposition where needed and further strengthen our product engine. We remain confident in our path forward.”
André Maestrini, Interim Co-CEO, President, and Chief Commercial Officer, stated: “During the quarter, we continued to grow our lululemon community as we entered new markets and elevated our product, brand, and guest experiences around the world. This work included delivering successful product capsules and activations across train, tennis, and run, as well as implementing enhancements across our store fleet and digital channels that we will build upon in the months ahead. We recognize that we have more work to do, and our teams remain focused on our priorities as we continue our efforts to reignite growth and realize lululemon’s full potential.”
For the first quarter of 2026, compared to the first quarter of 2025:
- Net revenue increased 4% to $2.5 billion, or increased 2% on a constant dollar basis.
- Americas net revenue decreased 3%, or 4% on a constant dollar basis.
- International net revenue increased 22%, or 16% on a constant dollar basis.
- Comparable sales increased 1%, or decreased 2% on a constant dollar basis.
- Americas comparable sales decreased 5%, or 6% on a constant dollar basis.
- International comparable sales increased 13%, or 8% on a constant dollar basis.
- Gross profit decreased 3% to $1.3 billion and gross margin decreased 410 basis points to 54.2%.
- Income from operations decreased 37% to $276.9 million and operating margin decreased 730 basis points to 11.2%.
- The effective income tax rate for the first quarter of 2026 was 31.8% compared to 30.2% for the first quarter of 2025.
- Diluted earnings per share were $1.69 compared to $2.60 in the first quarter of 2025.
- The Company repurchased 2.2 million of its shares for a cost of $358.3 million.
- The Company opened five net new company-operated stores during the first quarter, ending with 816 stores.