Wall St near even, dragged by Nike 6% drop after warning
The Dow and S&P 500 were little changed in Friday afternoon trading following a two-day rally, with a downbeat sales forecast from Nike offsetting gains in financial and energy shares.
The S&P 500 was on track to post a slight gain for the week."The last few days have shown a pronounced trend toward recovery in the market and back toward the highs," said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
The front facade of the New York Stock Exchange (NYSE) is seen in New York, U.S., February 16, 2021. REUTERS/Brendan McDermid/File Photo"There's plenty of things to worry about, but bottom line, short-term rates make putting your money in cash unattractive, and bonds seem riskier at these levels than stocks do to many investors."
Stocks fell sharply at the start of the week due to concerns over a default by China's Evergrandeand its potential risk to global financial markets and also ahead of the Wednesday's Federal Reserve statement. Read more: Reuters Top News »
Obama fires up Virginia crowd for governor's race he calls a U.S. 'turning point'
Former U.S. President Barack Obama urged Virginians to re-elect Terry McAuliffe as governor at a rally on Saturday, emphasizing the race's significance as an indicator of the country's political direction and a reflection of its values.
Wall St Week Ahead Fed's coming taper fans talk of renewed 'reflation' tradeThe Federal Reserve’s signal that it will soon unwind its bond buying program is bolstering the case in financial markets for the so-called reflation trade, which lifted Treasury yields and boosted shares of banks, energy firms and other economically sensitive companies in the early months of 2021.
Nike warns on holiday delays, cuts full-year sales estimateNike Inc on Thursday cut its fiscal 2022 sales expectations and said it expects delays during the holiday shopping season, blaming a supply chain crunch that has left it with soaring freight costs and products stuck in transit. good
Billie Eilish And Nike Join Forces On New Vegan Air JordansBad Guy, Good Kicks: Billie Eilish is stepping up her sneaker game with two new vegan Air Jordans. I really hope they don’t stop making the carnivore ones. YUM-O
Nike shares fall as weaker sales in North American lead to revenue shortfallNike shares dropped after the sneaker giant reported quarterly revenue that missed analysts' expectations. Not worried Yea because they keep letting everyone down with their drops matthewkish If you’re looking for the WHY: “Nike has been working through factory shutdowns in Vietnam, where it produces roughly 50% of its footwear and 30% of its apparel, since mid-July.”
Megan Thee Stallion Is Officially A Nike HottieNike announced its newest campaign, dubbed “New Hotties,” starring Megan Thee Stallion. Focused on sport, the rapper shares her fitness journey and her love of dance.
Billie Eilish And Nike Join Forces On New Vegan Air JordansBad Guy, Good Kicks: Billie Eilish is stepping up her sneaker game with two new vegan Air Jordans. horrible Are they made out of recycled brocolli? Impressive. And Nike will get a good lesson of what happens when you try too hard on collaboratives that should never happen.