Live news: Nike tops revenue expectations but markdowns and higher costs hit profits

Nike: Buyers will search for alerts on the temper of shoppers and China’s post-Covid restoration when the sportswear group declares outcomes this afternoon. Fourth-quarter income is anticipated to rise 3 per cent to $12.6bn, and earnings forecast to say no to 67 cents a share from 90 cents the earlier yr, in line with analysts polled by Refinitiv.

US GDP: Economists predict the ultimate studying of financial progress for the primary quarter to be 1.4 per cent on an annualised foundation, up on the second studying of 1.3 per cent, however nonetheless decrease than the earlier two quarters.

Different financial knowledge: Preliminary claims for state unemployment advantages are more likely to rise to 265,000 for the week ended June 24, from 264,000 within the prior week, in an indication the labour market is loosening.

Pending house gross sales in Could are forecast to have decreased 0.5 per cent, after remaining unchanged in April and experiencing a 5.2 per cent decline in March.

Fedspeak: Raphael Bostic, president of the Atlanta department of the Federal Reserve, will give a speech on the US financial outlook on the Irish Affiliation of Funding Managers Annual Dinner.

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