Nike shares jumped after it reported better✤-than-expected earnings on lower inventories and the Federal Reserve’s preferred inflation measure is expected to have fallen in August. Here’s what investors need ♓to know today.

1. Nike Shares Jump After Beating Earnings on Lower Inventories, Higher Chinℱa Sales

Nike (NKE) shares soared 8% in pre-market trading after the shoe maker reported stronger-than-expected earnings of 94 cents a share, well above the 76 cents a share that analysts had forecasted. Nike was able to reduce its inventories by 10% and increased its sales in China by 5%, helping reverse trends that had helped send its shares lower by 20% so far this year.

2. Fed's Preferred Inflation Gauge Expected to Show Price Pressures Eased in August

The core Perso🍒nal Consumption Expenditure (PCE) Price Index, the Federal Reserve’s preferred measurement of inflation, is expected to have eased to an annual rate of 3.9% in August, down from 4.2% in the prior month, when it’s issued at 8:30 a.m. ET. At 10 a.m., the final Michigan Consumer Sentiment reading for September is expected to remain at 67.7.

3. UAW to Announce New Strike Targets Today if🍬 No Progress in Talks

The United Auto Workers said that it will announce at 10 a.m. ET today new facilities where workers could go on strike if progress isn’t made in talks with the Detroit “澳洲幸运5官方开奖结果体彩网:Big Three” automakers. In pre-market trading, shares of General Motors (GM) were up 0.6%, Ford (F) shares moved higher by 0.5%, and Stellantis (STLA) shares increased 0.3%.

4. Government Watchdog Files🐓 Lawsuit Against Tesla, Charging Racial Harassment

The U.S. Equal Employment Opportunity Commission filed a lawsuit against Tesla (TSLA) charging the company with subjecting Black employees to racial harassment and creating a hostile work environment. The suit also alleges that the company retaliated against Black employees and focused on the company’s Fremont, Calif. factory.

5. Apple 🐻Staff Met With Chinese Officials🥃 on US App Rules

Shares of Apple (AAPL) were 0.9% higher in the pre-market following reports that staff from the company met with Chinese officials recently to discuss worries over new rules that restrict the company from offering many of the foreign apps that are currently on the iPhone app store in China. Officials from that nation pressed Apple to strictly implement the rules that would keep U.S. apps like Instagram, Facebook, YouTube and X off of the store, ending some loopholes that allowed access.