Nike is giving the Dow an extra push midday
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| | 2/03/2020 | |
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Dow Extends Gains as Nike Sprints Higher | By Lillian Currens | | Stocks are continuing their push higher this afternoon, with the Dow Jones Industrial Average (DJI) adding nearly 300 points by midday thanks to a continued lift from Nike (NKE), and the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sporting notable gains of their own. This, of course, follows Friday's massive drop, which was exacerbated by coronavirus headwinds. While some investors are taking profits on this huge drop, others on Wall Street are warning against buying the dip, as the Coronavirus continues to devastate China. In response, oil is eyeing another daily loss, as reports that Saudi Arabia is urging the Organization of the Petroleum Exporting Countries (OPEC) to make even deeper cuts to crude output, have surfaced. March-dated crude futures hit a new one-year low of $50.33 earlier, and were last seen down 0.9%, at $51.10. Continue reading for more on today's market, including:
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