To The Moon

One stock I’m watching is $Nike(NKE)$ . The setup is pretty simple: the world’s biggest sportswear brand has been struggling, and the market has become increasingly impatient. Nike reports fiscal Q1 earnings on October 1, with consensus around $0.44 EPS and $11.3B revenue.  But the interesting part isn’t the earnings estimate. It’s whether Nike can finally show signs that the turnaround is working. 👟 China is the big question. Greater China sales fell 17% on a constant-currency basis in Nike’s most recent quarter, making the region one of the biggest problems management needs to address.  🇺🇸 Then there’s North America. Wholesale revenue has been growing, but that hasn’t translated into overall sales growth. That raises an uncomfortable

0654 GMT - Australia's economy is operating at around full employment or full capacity, which is creating excessive price pressures despite weak demand, say HSBC Global Research economists Jamie Culling and Paul Bloxham in a note. The country's weak economic growth is a clear sign that the Reserve Bank of Australia's tight monetary policy is slowing demand in the economy. However, the GDP numbers also provide evidence that the economy's supply side has been weak too, they say. A constrained supply side that is still affected by the long-tail effects of the pandemic means that a sustained period of weak demand will be needed to bring inflation down to target, they add. HSBC's central case is that the RBA won't cut its cash rate until 2Q of 2025.