Traders will be watching how Nike shares move after following quarterly results. They'll also be eyeing the latest income and spending numbers from the Commerce Department on Friday.
Macro Trends Advisors LLC Founding Partner Mitch Roschelle and Former Trump senior economic adviser Steve Moore discuss tumbling stocks, large government deficits, lack of growth, and false signals on the market on 'Cavuto: Coast to Coast'.Shares are down more than 9% in premarket trading after the company said inventories rose 44% to $9.7 billion in the latest quarter, and higher discounts and freight costs squeezed profit margins. Earnings fell 22% to $1.
The agency's internal scientists repeatedly said the company's results were not convincing. But thousands of patients have urged the FDA to be flexible and grant patients' access. BIOGEN SHARES SOAR ON ALZHEIMER'S DRUG DEVELOPMENTSThe Commerce Department releases personal income and spending numbers for August. Economists surveyed by Refinitiv anticipate spending to rise 0.2% month-over-month, slightly above July’s lower-than-expected 0.1% growth rate.
The Core PCE Price Index, which factors out volatile food and energy costs, is expected to rise 0.5% in August, above July’s 0.1% increase.
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