Wall Street Watch: Levi's Earnings, SK Hynix IPO, Auto Sales, and Key Sector Shifts Driving Wednesday's Market Action

Wall Street Watch: Levi’s Earnings, SK Hynix IPO, Auto Sales, and Key Sector Shifts Driving Wednesday’s Market Action

Last updated: July 8, 2026 7:29 am

1 month ago

1 Min Read

Wednesday’s market action is poised for significant movement driven by key corporate reports and sector shifts. Levi Strauss is set to release earnings, while anticipation builds for South Korean chipmaker SK Hynix’s U.S. listing, impacting the iShares MSCI South Korea ETF. Investors will also be watching Costco’s monthly sales and a critical report on the used auto market, alongside notable performance trends in the Energy and Airline sectors and Meta Platforms’ ongoing rally.

Get ahead of the market with a first look at tomorrow's potential movers and a recap of today's key developments. The daily 'Stocks @ Night' newsletter offers exclusive insights, and here's what CNBC TV producers are tracking for the next trading session.

Levi Strauss (LEVI): The iconic jeans maker is set to report its latest earnings after the closing bell on Wednesday. Investors are keenly watching, as Levi Strauss shares have surged 25% over the past three months, though they've pulled back 3.6% from their July 1 high. This report could be a significant catalyst for the stock's near-term trajectory.

South Korean Chipmakers on the Rise: The market is buzzing with anticipation as South Korean chip giant SK Hynix moves closer to a Friday listing in the U.S. This development has a significant impact on the iShares MSCI South Korea ETF (EWY), which, despite being off 18% from its June 18 peak, has astonishingly gained nearly 160% in the last year. SK Hynix accounts for a substantial 25% weighting in the EWY, with Samsung holding 23%, and SK Square at 3.9%.

Used Auto Market Insights: CNBC TV's Phil LeBeau will deliver a detailed report on the used automotive sector Wednesday morning. This comes as shares of key players show mixed performance: CarMax (KMX) is down 27% from its high last July but has climbed 8% in the past month. Carvana is off 30% from its January high but has seen a 2.5% uptick in the last week. Group 1 Automotive is currently down 40% from a previous high.

Costco's Monthly Sales: Retail giant Costco will release its monthly sales figures at 4 p.m. ET on Wednesday. The stock has experienced some recent pressure, down 2.5% in the last month and 13% from its May high, though it remains up approximately 10% so far this year.

Sector Performance Snapshot: The Energy S&P Sector has been a standout, rising 2.8% in just two days and leading all sectors this week. Conversely, the Airlines S&P Industry has struggled, dropping 3.7% over the same two-day period, making it the week's worst performer.

Meta Platforms' July Rally: Facebook parent company Meta Platforms has seen a strong start to July, with its stock up more than 9% this month and 5.6% in the last two days. Despite this recent momentum, Meta remains down 6.7% year-to-date.