The stock market suffered a sharp sell-off on Thursday as oil prices climbed above $100 a barrel amid escalating Middle East tensions, while major technology stocks tumbled on investor concerns over rising AI spending.
Overall, S&P 500 slid 1.2% to 7,408, while Nasdaq dropped 2.2% to 25,138.
Chart of the Day
Here is the one-year chart of Costco (COST) as of July 8, 2026, when the stock was at $953.
The company reported 15% profit growth on a 12% increase in revenue, driven by recurring membership income and continued e-commerce momentum. Digitally enabled comparable sales were up 22% last quarter, while web and app traffic each grew 37% following ongoing platform enhancements.
In the earnings call, management also highlighted solid membership trends, with membership fee income rising 14% year over year as renewal rates remained above 90%. Additionally, management highlighted gasoline as a key traffic driver, supporting member visits, with comparable sales growing in the high-20% range on higher fuel prices and accelerating sales volumes.
COST is on the radar for our Conservative Growth Portfolio, and if the stock drops some more, we will likely buy in.
