Nike’s stock surge accounting for half of Dow’s early gain

Nike Inc.’s stock rallied $3.53, or 6.6%, in premarket trade Friday, after better-than-expected fiscal fourth-quarter results and confirmation that it would sell sneakers on Amazon.com Inc. , which could be accounting for about half of the Dow Jones Industrial Average’s early gain. The stock’s price gain would add about 24 points to the Dow’s price, and Dow e-mini futures were last up 51 points. Nike’s stock has gained 4.6% year to date through Thursday, while the Dow has climbed 7.7%.

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From:: Stock Market News

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