This Week: Nike earns, Fed meeting, GDP estimate
A look at some of the key business events and economic indicators upcoming this week:
KAEPERNICK AD FALLOUT?
How is Nike’s new ad featuring former NFL quarterback Colin Kaepernick affecting the company’s sales?
Investors will be listening for what the athletic apparel company has to say on the subject Tuesday, when Nike serves up its latest quarterly results. The ad, which debuted earlier this month, has drawn calls for a boycott against the company from people who oppose Kaepernick’s refusal to stand during the national anthem before games.
THE FED SPEAKS
The Federal Reserve is scheduled to deliver an update on its economic and interest rate policy Wednesday.
The remarks will follow a two-day meeting of the central bank’s policymakers. The Fed has raised interest rates twice this year, in March and June. Many private economists believe it will hike rates again this month and will move rates up a fourth time in December.
The U.S. economy is on track to produce its strongest full-year gain in more than a decade.
Economists project that the economy, as measured by the gross domestic product, grew at a 4.2 percent seasonally adjusted annual rate in the April-June quarter. That would be the best showing in nearly four years. The Commerce Department delivers its final reading of U.S. second-quarter economic growth Thursday.
GDP, seasonally adjusted annual rate, by quarter:
Q1 2017: 1.8
Q2 2017: 3.0
Q3 2017: 2.8
Q4 2017: 2.3
Q1 2018: 2.2
Q2 2018 (est.): 4.2