Positive Expectations Benefited Nike Stocks

Positive expectations benefited Nike stocks. Nike stocks hit a record high during the day. Nike stocks gained about 15 percent and reached $153.09.

Nike stocks broke an intraday record as a result of the positive expectations of increased consumption in the USA and the effect of the strong outlook. Sharing its prediction with investors, Nike stated that, with the effect of the recovery in the North American market, its revenues will exceed $ 50 billion for the first time this fiscal year. Nike executives, who shared their low double-digit increase expectation in the fiscal year that will end next May, predicted that growth would be faster in the first half of this year.

US Personal Spending Exceeded Expectations

Personal spending in the US exceeded expectations. While personal spending in the USA decreased by 2 percent in May, the median expectation of economists surveyed by Bloomberg was for a contraction of 2.5 percent. While personal income in the country is expected to increase by 0.4 percent, no increase was observed in personal income in May. Personal expenditures in the country increased by 0.5 percent in April, in line with expectations, while personal income decreased by 13.1 percent.