Sneaker unwind meets a copper-and-wheat panic. Bonds are the tell.

Sell Dick's Sporting Goods⚡ — Two sources confirm the record selloff and guidance cut; DKS is down 28% in a week and sits 7% above its 52-week low, so the footwear margin squeeze is already in the tape.

Sell Foot Locker⚡ — Two sources flag retro-sneaker discounting hitting the same core categories Foot Locker relies on, and the $2.4bn deal links its fate to Dick's.

Sell Nike⚡ — MarketWatch flags weakening retro sneaker demand pressuring Nike's wholesale channel; NKE sits 1% above its 52-week low.

Sell Skechers⚡ — Value footwear sellers face the same retro-sneaker rotation, though Skechers is only indirectly referenced in the cluster.

Sell General Motors — WSJ flags GM's cross-border production exposure to a 50% Canadian vehicle tariff; GM trades at 5.8x forward P/E but only 6% below its high, leaving little cushion for a supply shock.

Sell Ford — Ford relies on Canadian assembly and faces higher input costs or disruption under a 50% tariff; F is 22% below its high, not yet priced for a border cliff.

Sell Stellantis — Stellantis has heavy Canadian capacity and already trades 58% below its high on 0.23x book; the tariff threat reopens downside that value buyers keep trying to catch.

Watch Canada equities — Canadian equities sit 1% below their 52-week high even as retaliation escalates, so EWC has not priced in a prolonged trade fight.

Buy Scorpio Tankers — FT notes record freight rates from the Iran stalemate support tanker earnings; STNG is +50% YTD and only 15% below its high, with the freight backdrop intact.

Sell US Oil Fund — FT flags Iran-Oman talks reopening Hormuz, which unwinds the war premium in an ETF up 86% YTD; USO's 1w -4.9% shows the trade has already begun.

Watch Long Treasuries — Citadel warns a crowded short long-bond position could squeeze; TLT near its 52-week low makes the unwind violent if it starts.

Watch Short long-duration Treasuries — The $40tn debt math keeps upward pressure on yields, which favours TBT, but the trade is crowded on both sides.

Buy Solar equities — Nikkei flags a 100 GW Indonesian solar build, which supports global solar equipment demand; TAN is 36% below its 52-week high, so the bar is low.

Buy First Solar — First Solar should benefit from large-scale thin-film solar orders, trading at 8.8x forward P/E with shares down 25% YTD.

Hold Indonesia — The program supports Indonesian energy names, but EIDO is already down 33% YTD and the program lacks financing detail.

Sell US financials — CoinDesk flags a Dallas Fed estimate that tokenized deposits could cut $700bn from bank lending capacity; XLF at its 52-week high leaves no cushion for that risk.

Sell JPMorgan — As the largest US bank, JPMorgan is most exposed to any deposit drain; JPM sits only 3% below its high, so the tokenization threat is not priced.

Hold Bitcoin — CoinDesk reports bitcoin consolidating near $79,000 after a 23% weekly gain, with no breakout signal yet.

Hold Ether — Ether is slipping on profit-taking while the quantum-resistant staking proposal is a long-run risk reduction, not a near-term bid.

Hold Solana — Solana's slip mirrors ether as traders bank a week of gains, with no decisive reversal.

Buy Agriculture commodities — FT flags El Niño as a recurring agricultural shock; DBA is up 12% YTD and near its 52-week high, so weather premium is already partially priced.

Buy Wheat — Wheat is highly El Niño-sensitive; WEAT sits at its 52-week high after a 5.2% prior-session jump, making it a momentum trade rather than a fresh entry.

Buy Copper — Nikkei flags AI-driven copper mining capex; CPER is 2% below its 52-week high after a 14.6% YTD run, so the story is confirmed by price.

Buy Komatsu — Komatsu tripling its US maintenance hub is a direct read on mining-equipment demand, surfaced as a single-source proxy for copper capex.

Buy Emerging markets — SCMP reports HK capital diversification toward EM; EEM is 6% below its 52-week high after a 19.5% YTD run, with the policy a tailwind, not a trigger.

Hold Hong Kong equities — Hong Kong equities are only 5% higher YTD and 12% above their low; the visa-driven diversification is supportive but not a near-term earnings catalyst.