Stock prices, Q2 results, Nike earnings, egg prices and more on Morning Squawk

Happy Wednesday. While consumer sentiment is nearing record lows, at least one group appears to be feeling good about their jobs: shift workers.

Stock futures are mixed this morning after a win on Wall Street.

Here are five important things investors need to know to start their trading day.

nike reported better-than-expected results in its fourth fiscal quarter. However, the sporting goods retailer saw its sales fall 12% in the closely watched Chinese market, sending its shares down 3% in after-hours trading.

Total revenue decreased 1% year over year. North American sales rose 3%, but still missed Wall Street consensus expectations.

Meanwhile, the Oregon-based company said its gross profit margin increased nearly 9% in the quarter. As CNBC’s Raya Neelakandan points out, that’s partly due to expectations for tariff refunds after the Supreme Court struck down many of President Donald Trump’s levies.

In an interview with CNBC’s Sarah Eisen yesterday, Cleveland Fed President Beth Hammack said the demand for artificial intelligence infrastructure is “insatiable.” And he warned that it could spur inflation.

Inflation has been “too high” over the past five years, Hammack told the European Central Bank meeting in Sintra, Portugal. As a result, the Fed said it may have to raise interest rates.

Don’t miss the panel discussion between Mr. Eisen and Federal Reserve Chairman Kevin Warsh, European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey, and Bank of Canada Governor Tiff Macklem, starting at 9 a.m. ET. Watch live on CNBC and CNBC+.

Amazon announced yesterday that it is investing $1 billion in a new forward deployment engineering team for its web services business. As CNBC’s Ashley Caputo points out, Amazon is considered the first hyperscaler to announce a group of this kind.

Forward-placed engineers are embedded within enterprises to accelerate technology transformation and dispatch AI. meanwhile Palantir Since the FDE title was coined more than a decade ago, this job has become increasingly popular among software vendors looking to bring talent into customer facilities.

Meanwhile, Amazon founder Jeff Bezos’ Blue Origin said it has no intention of rebuilding the launch pad where one of its rockets exploded. Instead, the startup plans to focus on redesigning it with the goal of returning to flight this year.

A major egg producer has settled a price inflation investigation with the Department of Justice and several state attorneys general. As part of the agreement, the companies agreed to donate approximately 53 million eggs to food banks and related nonprofit organizations.

The Department of Justice and the state argued that: karmaine foodsVersova and Hickman’s Egg Ranch “illegally adjusted” the daily price index for food over a period of nearly three years. The proposed settlement would add an antitrust compliance program and a compliance officer to prevent future “coordinated” price-fixing by both companies. The settlement still needs approval from a federal judge.

Lawmakers on both sides of the aisle are focused on the role of private equity in youth sports. Here’s what Rep. Kevin Kiley, chairman of the House Early Childhood, Elementary and Secondary Education Subcommittee, said yesterday at a hearing on the issue:

—CNBC’s Sean Conlon, Kif Leswing, Samantha Subin, Sam Meredith, Raya Neelakandan, Jeff Cox, Ashley Caputo, Annie Palmer, Greg Iacrussi and Garrett Downs contributed to this report.

Luke Fountain helped produce this newsletter. Melody Warner edited this version.