Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon, today is Thursday, June 26th, and I'm your host, Kim Khan. Our top story so far,

Nike appears to be generating strong buzz for its upcoming Air Max Phenomena Shoe, which is the company's entry

into the growing snowfer category. Resale size show prices of over $300 for the Nike release,

despite the company having yet to set an official release date. The snowfer category refers to a new

hybrid footwear style that blends the features of a sneaker and a loafer. The upper part of the shoe is crafted

from textured leather and features a strap across the vamp reminiscent of classic penny loafers.

In general, snowfers represent a broader shift in fashion towards hybrid, boundary-blurring designs

that cater to Gen Z, now 13 years old to 28 years old, and others seeking both comfort and style.

The initial release from Nike will be in a striking black colorway,

pearl pink version, and what is described as a cool gray colorway.

The Nike AirMax phenomenon was designed by the company in collaboration

with the Serena Williams design crew, a rotating collective of designers who work with the tennis legend in Nike.

Looking ahead, Nike's snowfer could compete with versions from New Balance, Skechers,

Kohlhan, Converse, also owned by Nike, and Decker's Hoka.

Nike reports earnings after the bell today.

On the economic front, new orders for durable goods shot up 16.4% in May,

blowing past the 8.6% rise expected,

and reversing April's 6.6% drop. But excluding transportation, which was boosted by airshow deals,

new orders edged up just 0.5% compared with flat expected and up 0.2% in the prior month.

Wells Fargo economists say, a surge in aircraft orders is responsible for the leap in durable

goods for May, but even beneath the surface underlying orders activity perked up a bit.

...