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Watch Nike Earnings and More

With the Q3 earnings season almost over, investors will turn their attention to Nike (NKE) on Thursday. In its last quarter, Nike stayed on the offensive to get ahead of inflationary pressures and weaker consumer spending. It has a powerful brand that is the foundation of its profitability.

Expect NKE stock to attract plenty of trading volume on Thursday.

FedEx (FDX) will post Q3 results on Tuesday. Analysts expect the delivery firm to post $4.20 in earnings per share on revenue of $22.42 billion. FedEx beats consensus estimates most of the time.

On Wednesday, markets will return to watching the tech sector. Micron Technologies (MU) will likely post an EPS loss of $1.02. BlackBerry (BB), which markets have largely given up on, will post results alongside Micron. General Mills (GIS), Winnebago (WGO), and Toro (TTC) are reporting results, too.

Economic data released this week include the Personal Consumption Expenditures (PCE) price index. Released on Friday, economists are projecting inflation will fall. This week, watch out for consumer confidence, the final reading of third-quarter economic growth, and housing data.

For this week ahead, the S&P 500 has seven straight weeks of trading higher. This is the longest streak since 2017. An eighth straight week of gains will push the markets further into overbought territory. This increases the risk of a broad-based sell on mild profit-taking.