5 things to know before the stock market opens on Tuesday

The Trump administration launched an economic offensive yesterday, threatening to raise tariffs on Canada and launching a global sanctions program targeting Iran. “Operation Economic Outcast,” detailed in Treasury Secretary Scott Bessent’s press conference, aims to isolate Iran through the threat of secondary sanctions against Iranian “enablers.”

Here’s what you need to know:

Dick’s Sporting Goods stock fell 15% before the bell after the retailer missed Wall Street’s expectations for the second quarter and cut its full-year outlook for its Foot Locker business, citing a tough footwear market.

Foot Locker, which Dick’s acquired last year, saw sales decline 3.6% in the same period. Meanwhile, sales at Dick’s stores increased 4.9%, due in part to this summer’s World Cup.

Elsewhere in the retail industry: Lego reported record sales for the first half of 2026, up 21% year-on-year. CEO Niels Christiansen told CNBC that the toy brick maker is attracting new consumers and retaining its current fans.

Nvidia’s The Groq 3 LPX rack is in full production and expected to come online later this year, the chipmaker announced yesterday. This marks the technology commercialization of Nvidia’s $20 billion acquisition of Groq assets, making it Nvidia’s largest acquisition in history.

As CNBC’s Kif Leswing writes, Groq’s race to bring its chips to market highlights the role of low-latency inference in making artificially intelligent agents more responsive. According to Nvidia, the Groq 3 LPX rack can deliver 3,400 tokens per second.

All eyes are on the “Magnificent 7” chip maker, which is scheduled to report its financial results after tomorrow’s bell. Nvidia stock has fallen for the seventh day in a row, marking the longest losing streak since 2022.

A new report by Democrats on the Congressional Joint Economic Committee says President Trump’s positions in oil and gas stocks rose by $15.5 million this year as the energy sector’s names surged due to oil supply shortages.

The president held between $12.5 million and $45.6 million in oil and gas stocks last year, according to his 2025 financial disclosures. The committee said the value of these holdings rose from $17.2 million to $61.1 million as of Aug. 17, estimating an average increase of about 39%.

The Trump Organization told CNBC that Trump does not direct any personal trading and that his investments are held in discretionary accounts managed by independent financial institutions. Over the weekend, the president disclosed more than 1,000 financial transactions in June.

united airlines The company continues to bet on premium international travel and plans to add several international routes next year. The new destinations announced this morning range from Ljubljana, Slovenia to Okinawa, Japan, and Catania, Sicily.

Patrick Quayle, United’s senior vice president, said his airline’s customers “want to escape the crowded European metropolises.” United CEO Scott Kirby told CNBC’s Phil LeBeau this morning that the new destinations aren’t just for summer travel: “These will continue through October.” “October has been one of the best months of the year for us.”

—CNBC’s Kevin Breuninger, Michael Wayland, Anniek Bao, Luke Fountain, Sean Conlon, Tanaya Machel, Sarah Whitten, Kif Leswing, Michelle Fox, Leslie Josephs and Hugh Son contributed to this report.

Luke Fountain helped produce this newsletter. Josephine Rozzelle edited this version.