Published: Friday, 27 March 2026 at 1.30pm (UK)
It will be a holiday-shortened trading week, with UK and US markets closed on Friday for the start of the Easter holiday weekend. Still, there will be plenty of economic data in the US for traders and investors to watch, including ISM manufacturing and services, plus ADP and non-farm payrolls employment reports. In a quieter week at home, we’ll still get a reading on the UK economy with a final GDP figure for Q4, and fresh manufacturing numbers. Together, these should offer a gauge on how much damage higher oil prices have caused to the economy so far. Meanwhile, sportswear giant Nike wraps up the current earnings season, as we await the start of the next one in early April.
Nike Q3 earnings
Tuesday 31 March The athletic apparel maker is expected to report third-quarter earnings of $0.28 per share, down 48% year-on-year, while revenue is expected to decline by less than 1% to $11.2bn. Gross margins are expected to contract to 39.8%, from 40.6% in Q2. Analysts forecast Q4 earnings will grow 53.4% to $0.21. Revenue is projected to increase by 2% to $11.3bn, while gross margins are expected to rise by less than 1% to 40.6%. The stock is expected to see a post-earnings move of about 7.7%.
Implied volatility for Nike options expiring on 2 April is relatively elevated, at around 80%. Option positioning in Nike appears bearish, with a key level of support currently around $50, just slightly below the stock’s current price. However, if the company reports solid results, the combination of bearish positioning and strong support at $50 could set the stage for a post-earnings rally. As implied volatility resets, and provided the results are not unexpectedly weak, the decay in ‘put’ premiums could help lift the shares.
