US Data to Steer Next Fed Decision

The US economic data for October is set to play a crucial role in determining the next Federal Reserve decision, with a potential hike on the table.

This week will see the release of several key indicators, including the nonfarm payrolls report and the core PCE index, which will show whether the economy has slowed down enough to warrant another interest rate increase. The jobs report is expected to show 100,000 new hires in September, while the core PCE index is forecasted to rise by 0.3%.

Nike's earnings are also due on Thursday, with shares at a 12-year low. The company needs to demonstrate that its turnaround plan is gaining traction beyond cost-cutting measures.