Best Buy Co. Inc. is a leading retailer of consumer electronics, with FY26 sales of $41.7 billion. Approximately 8% of revenue is from international operations. The Minneapolis-based company ended 3Q26 with 926 stores in the U.S., which average a bit above 36,000 square feet. The International segment ended 4Q26 with 142 stores in Canada. Total square footage is about 39.5 million, down from 50 million in FY11. In the Domestic segment, Consumer Electronics generated about 29% of 4Q26 revenue; Computing and Mobile, 47%; Entertainment, 9%; Services, 6%; and Appliances, 9%. The company's fiscal year ends on the Saturday closest to the end of January. The current FY27 will end on January 30.

In a week shortened by the July 4th holiday (observed by U.S. stock markets on Friday, July 3), the big news for the week will be the employment report that comes out on Thursday. Last week, the Dow Jones Industrial Average rose 0.6%, while the S&P 500 fell 1.9%, and the Nasdaq fell 4.6%. Year to date, all three indices are in positive territory, with the DJIA up almost 8%, the S&P 500 up 7.4%, and the Nasdaq up almost 9%. The earnings calendar is quiet, with earnings season not starting until mid-July. Still, there are a few reports of interest this week, including Nike and Constellation Brands on Tuesday. Turning to economic data, gas prices dropped 15 cents last week and are now at an average of $3.91 per gallon for regular gas. Elsewhere, the Atlanta Fed GDPNow forecast is for GDP growth of 2.5% in 2Q, down from the last reading of 3.0%. The Cleveland Fed Inflation Nowcast calls for CPI of 3.96% in June. Mortgage rates rose two basis points last week, with the average 30-year fixed-rate mortgage now at 6.49%, according to FreddieMac. The next Federal Open Market Committee (FOMC) meeting is on Wednesday, July 29, and odds are essentially at 0% for a rate cut at that meeting, with increasing speculation that the Fed may instead end up increasing rates at some point in 2026. Taking a deeper dive into performance so far in 2026, a leading industrialized global stock market index, the ETF EFA, is up 6.3% year to date, while the leading emerging market ETF (EEM) is up 22.4%. U.S. growth stocks are flat year to date looking at ETF IWF, while value stocks (IWD) are up 14.5%. Crude oil prices continue to be volatile. On Friday, oil was down to $69 per barrel, but is still up 19% for the year. In other asset classes, AGG bonds are flat year to date, gold is down 6%, and Bitcoin is down 31%. The U.S. dollar is up 3%, tracking DXY, and the VIX Volatility Index closed out at about 18 on Friday, below its historical average of 20.

Best Buy Co. is a leading retailer of consumer electronics, with FY26 sales of $41.7 billion. Approximately 8% of revenue is from international operations. The Minneapolis-based company ended 3Q26 with 926 stores in the U.S., which average a bit above 36,000 square feet. The International segment ended 4Q26 with 142 stores in Canada. Total square footage is about 39.5 million, down from 50 million in FY11. In the Domestic segment, Consumer Electronics generated about 29% of 4Q26 revenue; Computing and Mobile, 47%; Entertainment, 9%; Services, 6%; and Appliances, 9%. The company's fiscal year ends on the Saturday closest to the end of January. The current FY27 will end on January 30.

The major stock indices are higher at midday on Monday. Oil prices are still elevated but have pulled back a bit, helping the mood on Wall Street as the war enters week three. Meanwhile, the Fed meets on rates on Wednesday. The yield on the 10-year note is at 4.23%, crude oil is now at $97 per barrel, and the VIX volatility index is at 24.