The Magpies have battled through the January transfer window so far, encountering multiple disappointments in several player chases, and little time remains to do deals.
They are confident that midfielder Bruno Guimaraes will join Kieran Trippier and Chris Wood through the door, while also working on deals for Brighton defender Dan Burn and Arsenal striker Nketiah.
Crystal Palace were keen to sign Nketiah, but look unlikely to do so after deciding to negotiate the permanent arrival of Jean-Philippe Mateta.
Newcastle are holding talks with Arsenal and are in pole position to snap the striker up.
The discussions are claimed to be progressing well and Nketiah could travel to the north east this weekend to complete the move.
He is out of contract at Arsenal in the summer and has been keen to move on to secure regular playing time.
Newcastle boss Eddie Howe will hope that Nketiah can quickly hit the ground running at St James’ Park.
