Nike: Investors will be looking for signals on consumer sentiment and China’s post-Covid recovery when the sportswear group reports earnings this afternoon. Fourth-quarter revenue is expected to rise 3% to $12.6 billion and earnings are expected to fall to 67 cents per share from 90 cents a year earlier, according to analysts polled by Refinitiv.
US GDP: Economists predict the final reading for economic growth for the first quarter will be 1.4% on an annualized basis, up from the second reading of 1.3% but still lower than the previous two quarters.
Other economic data: Initial claims for state unemployment benefits are expected to hit 265,000 for the week ended June 24, from 264,000 the previous week, a sign that the labor market is loosening.
Pending home sales in May are expected to have fallen 0.5%, after remaining flat in April and falling 5.2% in March.
Fedspeak: Raphael Bostic, chairman of the Atlanta branch of the Federal Reserve, will deliver a speech on the US economic outlook at the Irish Association of Investment Managers’ annual dinner.
