Nike Inc (NYSE:NKE) shares are trading lower by 3.92% to $94.83 going into the close of Thursday’s trading session. Nike shares are trading lower ahead of today’s earnings report as stocks fall on rising rates and recession fears. The company could also be negatively impacted by a rising US dollar.
According to analyst consensus estimates, Nike is expected to report first-quarter revenue of $12.27 billion on EPS of 92 cents.
What’s Happening In The Broader Market?
U.S. initial jobless claims unexpectedly fell last week to the lowest levels since April, signaling the labor market remains resilient despite continued rate hikes from the Federal Reserve.
Jobless claims decreased by 16,000 for the week ending Sept. 24 to 193,000 from a downwardly revised level of 209,000 in the prior week, according to data the Labor Department released on Thursday…Read More
See Also: Surprise! Jobless Claims Fall To Lowest Levels Since April: What You Need To Know Now
