Yesterday, Nike reported better than expected profit for the 3 months ended 31 August (the company’s fiscal first quarter). However, it just missed on Wall Street’s revenue expectations. EPS came in at 94 cents vs. 75 cents estimated, with revenue at $12.94 billion against a forecast of $12.98 billion.
Watch today’s US Open for insights on China’s property sector troubles and their impact on the stock market, key upcoming events and Nike’s incoming quarterly results
GameStop (GME.us) has gapped up on the market’s cash open, and is trading over 3.5% higher, after Ryan Cohen was appointed as president and chief executive officer. The appointment will take place with immediate effect.
Watch this video for commentary on some of the companies that are at the forefront of the Artificial Intelligence (AI) revolution, as the fourth quarter gets underway
The United Auto Workers may extend strike action.
Hollywood writers have agreed to end their strike action. The strike ended in the early hours of Wednesday morning.
The tech giant upped its Artificial Intelligence game with the investment in Anthropic this week, but was also sued by the FTC for anticompetitive practices, in regards to its online retail market
Similar to yesterday’s article, the NAS100 is also showing worrying signs of technical weakness. Like the SPX500, the NAS100 has charted a lower peak followed by a lower trough. This puts the growth index into a defined downtrend. Its weekly RSI has also dipped below 50, which is on the bearish side of the indicator. If it maintains below 50 for an extended period, the NAS100 will be under pressure.
Watch today’s US Open for insights on the BoJ continued dovish stance, the ECB-Fed differential, Amazon’s investment on AI firm Anthropic and more
As we head towards the conclusion of Q3 at the end of the month, the SPX500 has flashed a serious warning sign. The index has charted a lower peak followed by a lower trough on the weekly times frame. This is a defined downtrend.
Take a look at some major corporations that will be in the spotlight over the coming months, as the fourth quarter gets underway against diminishing AI frenzy and uncertain monetary outlook
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