Earnings live updates: Dick's Sporting Goods stock tanks after retailer slashes outlook amid 'challenging conditions'

Dick's Sporting Goods stock tumbled after the retailer slashed its full-year outlook, citing 'challenging conditions,' as the second-quarter earnings season nears completion with S&P 500 earnings on pace to rise 50% year over year, the highest growth since 2021, driven by artificial intelligence, according to FactSet and Bank of America strategists.

Earnings live updates: Dick's Sporting Goods stock tanks after retailer slashes outlook amid 'challenging conditions' The second quarter earnings season is nearly complete, with Nvidia's NVDA https://finance.yahoo.com/quote/NVDA/ Q2 results on Wednesday https://finance.yahoo.com/news/nvidias-q2-earnings-to-test-resurgent-ai-trade-112502189.html serving as a keystone to a remarkably strong stretch of corporate reports. According to FactSet data, second quarter earnings for S&P 500 companies are on pace to rise 50% year over year https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight 080726.pdf , the highest growth rate since 2021. Artificial intelligence has been the growth engine https://finance.yahoo.com/markets/article/corporate-earnings-soared-in-q2-with-ai-as-the-growth-engine-chart-of-the-day-173507179.html of that broad-based earnings growth, Bank of America strategists noted. In addition to Nvidia's results, investors watched for key updates from dollar stores Dollar Tree DLTR https://finance.yahoo.com/quote/DLTR/ and Dollar General DG https://finance.yahoo.com/quote/DG/ ; software companies, such as Salesforce CRM https://finance.yahoo.com/quote/CRM/ , Intuit INTU https://finance.yahoo.com/quote/INTU/ , and Zoom ZM https://finance.yahoo.com/quote/ZM/ ; and other retailers like Dick's Sporting Goods DKS https://finance.yahoo.com/quote/DKS/ and Kohl's KSS https://finance.yahoo.com/quote/KSS/ .