Look ahead: US GDP growth rate; US initial jobless claims; UK public sector net borrowing; Nike

UK public sector net borrowing data comes ahead of GDP and retail sales figures. Plus, Nike is expected to report a 0.8% increase in Q2 revenue.

(AI Video Summary)

Big reports ahead of Christmas

In today's "Look ahead", Angeline Ong shares some important information about upcoming events and data releases for Thursday 21 December. Even though it's close to Christmas, there are still some big reports to keep an eye on. One of the highlights is the release of public sector net borrowing and CBI distributors trade data in the UK. On top of that, the UK's inflation rate has unexpectedly dropped to 3.9%, which may push the Bank of England to lower interest rates if other central banks like the Federal Reserve and European Central Bank do the same.

Over in the US, there are a few key reports to pay attention to. The final reading of third quarter GDP, initial jobless claims, and the Philadelphia Fed manufacturing index are all under the spotlight. The S&P 500, which is also known as US 500 on the tastylive platform, has been on an upward trend since mid-October due to the anticipation of rate cuts. In fact, all three main stock market indices, including the S&P 500, have risen by more than 2% since the Fed announced its plan to lower interest rates by 2024.

Nike's Q4 earnings

Another important event to keep an eye on is Nike's fourth quarter earnings. Experts are predicting a 0.8% increase in revenues to around $13.4 billion compared to last year. Nike has also received positive reviews from several brokers recently. Along with the rise in revenue, analysts estimate earnings of $0.85 per share. However, investors will be eager to hear about Nike's plans for the future, especially in terms of adapting to changes in consumer behavior and spending patterns in the face of high inflation and rising commodity prices.