NKE Downgraded on China Controversy

The Dow is down 263 points at midday

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Schaeffer's Midday Market Check
4/20/2021
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Indexes Brush Off Big Earnings, Eye Second Day of Losses


By: Jake Scott

The major benchmarks are pacing for a second day of losses, while brushing off an upbeat first-quarter earnings season. The Dow Jones Industrial Average (DJI) was last seen down 263 points, despite blowout reports from the likes of Procter & Gamble (PG), Johnson & Johnson (JNJ), and Travelers (TRV). Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are swimming in red ink, too, though 90% of S&P 500 companies are beating earnings expectations at three times the historical average.

Continue reading for more on today's market, including:

  • Nike stock downgraded following China drama.
  • Possible nicotine level caps burnt this tobacco name.
  • Plus, call traders blast Nano Dimension stock; CRSP soars on collaboration amendment; and tech stock plummets on stock offering.
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