U.S. market watch focuses on Levi Strauss earnings, Costco sales and South Korea chip exposure

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US market watch: Levi, Costco, chips

Highlights

Levi Strauss reports earnings after the bell Wednesday with shares up 25% in three months but down 3.6% from the July 1 high.
Costco will release monthly sales at 4 p.m. ET; shares are 13% below the May high but up 10% year-to-date in 2026.
SK Hynix, 25% of the iShares MSCI South Korea ETF, eyes a U.S. listing Friday with the ETF down 18% since June 18 but up 160% over one year.

Key catalysts for the next trading session

As reported by CNBC, market participants are watching Levi Strauss, Costco, used-auto trends and South Korea-linked chip exposure as potential drivers for Wednesday trading.

Levi Strauss reports after the bell on Wednesday, with its shares up 25% over the past three months but down 3.6% from their July 1 high. Costco is due to release monthly sales at 4 p.m. ET, with the retailer's shares down 2.5% over the past month and 13% below their May high, although the stock remains up about 10% so far in 2026.

In autos, CNBC TV's Phil LeBeau is set to provide details on the used-vehicle market Wednesday morning. CarMax shares are down 27% from the high reached last July but up 8% in a month, while Carvana is off 30% from its January high and up 2.5% in a week; Group 1 Automotive is down 40% from its September 2025 peak.

Sector rotation highlights pressure points

South Korea remains in focus as investors move closer to a U.S. listing for chipmaker SK Hynix on Friday. The iShares MSCI South Korea ETF, EWY, is down 18% from the high reached on June 18 but is still up almost 160% over one year; SK Hynix accounts for 25% of the fund and Samsung for 23%, while SK Square holds a 3.9% weighting.

Sector performance also shows a widening split in the market. The Energy S&P Sector is up 2.8% over two days, making it the best-performing sector so far this week, while airlines are the weakest-performing S&P industry, down 3.7% over the same period.

Meta Platforms is another stock on traders' radar after gaining more than 9% so far in July and 5.6% in two days. Even with that rebound, the stock remains down 6.7% for the year.

Our earlier article on the tech-led earnings outlook for U.S. equities explained why strong profit expectations could keep the S&P 500’s uptrend intact, with technology seen as the main engine of the next leg higher. It also highlighted Micron as a core AI trade, arguing that AI-related memory demand could extend its earnings momentum beyond a typical cycle and underpin optimistic price targets.

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