Nike as U.S. Economic Bellwether

When Nike (NKE) was added to the Dow Jones industrial average on Sept. 23, it was not just a recognition of Nike’s $63 billion market capitalization but also a nod to the importance of consumer spending to the U.S. economy. Nike’s quarterly sales have been more closely correlated with the quarterly annualized estimate of U.S. gross domestic product than all but five of the Dow’s 29 other companies.

Glassman is a producer for Bloomberg TV.

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Companies Mentioned

  • NKE
    (NIKE Inc)
    • $81.81 USD
    • -0.16
    • -0.2%
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