Good morning, you're listening to Markets Desk.
Stephen Curry is taking his brand east in a significant way, signing a partnership deal with Chinese sportswear giant Li-Ning. The agreement covers product development and sports culture initiatives, marking a notable pivot for Curry away from his long-running footwear history with Under Armour. For Li-Ning, landing a player of Curry's global stature is a direct challenge to Nike and Adidas in the premium athletic market.
Shifting to commodities, cotton futures posted gains Monday, moving up thirty-six to sixty-two points across most contracts. That move came alongside a weaker dollar, down nearly thirty cents to ninety-eight point one four zero, and a sharp rally in crude oil, which climbed more than five dollars at the close. The NASS Crop Progress report added some pressure, showing the US cotton crop sixty-six percent planted as of May thirty-first, running one percent behind the seasonal average.
And on the equity side, investors hunting exposure to SpaceX ahead of any eventual public offering are being pointed toward existing publicly traded vehicles that hold private stakes in the company. SpaceX remains one of the most valuable private companies in the world, and with no direct IPO on the immediate horizon, indirect routes are drawing serious attention from retail and institutional players alike.
That's the tape. Markets Desk, signing off the floor.
