According to Bloomberg business week Nike should now be used as a good barometer for US growth after it hoofed Hewlett Packard out of the Dow. In a league table of Dow companies and their correlation between sales and US GDP, Nike goes in at number 6 under the likes of Johnson & Johnson, Maccy D’s, Wal-mart, Cisco and Microsoft. New boys Visa went in at no.15 while Goldman’s manage a lowly 29th. Nike also replaces Alcoa as the first to report quarterly earnings.
Here’s the table in full;
Dow correlation table
