{"id":283770,"date":"2021-06-25T16:46:00","date_gmt":"2021-06-25T13:46:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/"},"modified":"2021-06-25T16:46:00","modified_gmt":"2021-06-25T13:46:00","slug":"market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/","title":{"rendered":"#Market Snapshot: Dow rises 140 points after key inflation reading, as Nike shares surge"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23e514a8e1f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23e514a8e1f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/#Shares_of_Dow_component_Nike_jump_more_than_13_after_revenue_surges\" >Shares of Dow component Nike jump more than 13% after revenue surges<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/#What_are_major_benchmarks_doing\" >What are major benchmarks doing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/#Whats_driving_the_market\" >What\u2019s driving the market?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/#Which_companies_are_in_focus\" >Which companies are in focus?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/#How_are_other_assets_faring\" >How are other assets faring<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/#William_Watts_and\" >William Watts and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-rises-140-points-after-key-inflation-reading-as-nike-shares-surge\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Market Snapshot: Dow rises 140 points after key inflation reading, as Nike shares surge<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Shares_of_Dow_component_Nike_jump_more_than_13_after_revenue_surges\"><\/span>\n  Shares of Dow component Nike jump more than 13% after revenue surges<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000317518\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000317518\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       U.S. stocks were building on a record climb  Friday morning as investors parsed readings on inflation and consumer spending and incomes, a day after an agreement on infrastructure spending was credited with helping lift the S&amp;P 500 index and Nasdaq Composite to another round of records.<\/p>\n<p> Nike shares were helping to power the Dow\u2019s gains and bank stocks were on track to rise after the results of the Federal Reserve\u2019s latest stress tests released Thursday showed the firms have enough capital to withstand a severe global recession and so can resume paying dividends and buying back stock. <\/p>\n<div class=\"paywall\">\n<h6><span class=\"ez-toc-section\" id=\"What_are_major_benchmarks_doing\"><\/span>What are major benchmarks doing?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"positive\">+0.51%<\/bg-quote><br \/>\n       rose 132 points, or 0.4%, to 34,327.<\/p>\n<\/li>\n<li>\n      The S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.21%<\/bg-quote><br \/>\n      were up 6 points, or 0.2%, at 4,272, after establishing an intraday record high at 4,277.40.<\/p>\n<\/li>\n<li>\n      The Nasdaq Composite Index<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"positive\">+0.06%<\/bg-quote><br \/>\n       gained 21 points, or 0.1%, to trade at 14,388.<\/p>\n<\/li>\n<\/ul>\n<p>On Thursday, the Dow ended 322.58 points higher, up 1%, at 34,196.82. The S&amp;P 500 advanced 24.65 points, or 0.6%, to 4,266.49, topping its previous record finish from June 14, while the Nasdaq Composite rose 0.7%, logging its 17th record close of 2021.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Whats_driving_the_market\"><\/span>What\u2019s driving the market?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Stocks have fully recovered, and then some, from the swoon that followed last week\u2019s Federal Reserve meeting, with the S&amp;P 500 on track for its best week since April. <\/p>\n<p>Equities were bolstered Thursday by the agreement in Washington on a roughly $1 trillion infrastructure plan, which includes around $579 billion in new spending on roads, bridges, rail and other physical infrastructure, analysts said, though President Joe Biden and congressional Democrats have signaled they will push for additional spending on education, child care and clean energy in a separate package.<\/p>\n<p><strong>Read:<\/strong>Infrastructure and the markets \u2014 here\u2019s what the $1 trillion means<\/p>\n<p>Separately, the Fed, after Thursday\u2019s close, announced that temporary limits on dividend payments and share buybacks on the nation\u2019s largest banks can end after June 30.<\/p>\n<p><strong>See:<\/strong> Fed\u2019s stress test shows big banks can withstand global recession, clearing way for payouts, share buybacks to resume<\/p>\n<p>In Friday\u2019s U.S. economic data, on the inflation front, the core PCE deflator, the Fed\u2019s favored inflation gauge, rose 3.4% from 3.1% on 12-month basis. On a month-over-month basis, PCE inflation index increased 0.4% in May, while core inflation rose 0.5% in May, both below the 0.6% rise estimated by economists. The PCE is considered a broader measure of inflation as it reflects changes in consumer behavior and has a wider scope than the Labor Department\u2019s consumer-price index.<\/p>\n<p>Meanwhile, U.S. consumer spending was flat in May and consumer incomes declined 2% from April to May. Economists had expected income to fall 2.7%, while spending is expected to rise 0.4%. <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>The University of Michigan\u2019s preliminary consumer-sentiment index reading for June is scheduled for release at 10 a.m. Economists expect the gauge to tick up to 86.5 from a reading of 86.4 in May.<\/p>\n<p>Several Fed officials, including Cleveland Fed President Loretta Mester, Boston Fed President Eric Rosengren, and New York Fed President John Williams, are also due to speak at various events on Friday.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Which_companies_are_in_focus\"><\/span>Which companies are in focus?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      Shares of Dow component <strong>Nike Inc.<\/strong><br \/>\n        NKE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203439053\/composite\" class=\"positive\">+14.45%<\/bg-quote><br \/>\n       jumped more than 13%, after the company late Thursday topped Wall Street revenue estimates by more than $1 billion, a turnabout from the year-ago quarter when sales were pummeled by the COVID-19 pandemic.<\/p>\n<\/li>\n<li>\n      Shares of <strong>Virgin Galactic Holdings Inc.<\/strong><br \/>\n        SPCE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208333884\/composite\" class=\"positive\">+14.43%<\/bg-quote><br \/>\n       jumped more than 16% after the company said it received <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval from the Federal Aviation Administration to fly passengers into space.<\/p>\n<\/li>\n<li>\n      <strong>BlackBerry Ltd.<\/strong><br \/>\n        BB,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202784246\/composite\" class=\"negative\">-4.32%<\/bg-quote><br \/>\n       shares were off over 2% after the company, a popular meme stock, reported a narrower-than-expected adjusted quarterly loss and sales that beat expectations late Thursday.<\/p>\n<\/li>\n<li>\n      Shares of big banks, including <strong>Bank of America Corp.<\/strong><br \/>\n        BAC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200894270\/composite\" class=\"positive\">+1.36%<\/bg-quote><span>,<\/span><br \/>\n       <strong>JP Morgan Chase &amp; Co<\/strong>.<br \/>\n        JPM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205971034\/composite\" class=\"positive\">+0.68%<\/bg-quote><br \/>\n       and<strong> Citigroup Inc.<\/strong><br \/>\n        C,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207741460\/composite\" class=\"positive\">+0.13%<\/bg-quote><span>,<\/span><br \/>\n       were mixed after the Fed stress tests. Shares of B.ofA. were up 0.3%, while Citi shares were down 1.4% and JPMorgan\u2019s stock was trading 0.2% lower. <\/p>\n<\/li>\n<li>\n      Shares of <strong>CarMax Inc.<\/strong><br \/>\n        KMX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/204412041\/composite\" class=\"positive\">+6.21%<\/bg-quote><br \/>\n       rose nearly 5% after reporting results early Friday that blew past Wall Street forecasts, boosted by surging demand for used cars.<\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"How_are_other_assets_faring\"><\/span>How are other assets faring<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      The yield on the 10-year Treasury note\u00a0TMUBMUSD10Y was at 1.500%.<\/p>\n<\/li>\n<li>\n      The ICE U.S. Dollar Index\u00a0DXY,\u00a0a measure of the currency against a basket of six major rivals, was down 0.2%.<\/p>\n<\/li>\n<li>\n      Oil futures\u00a0were inching higher, with the U.S. crude benchmark\u00a0CL00 up 19 cents, or 0.3%, at $73.49 a barrel on the New York Mercantile Exchange. Gold futures\u00a0GC00 were trading 0.7% higher at $1,788.30 an ounce.<\/p>\n<\/li>\n<li>\n      In European equities, the pan-Continental Stoxx 600\u00a0SXXP was trading virtually unchanged, while London\u2019s FTSE 100 rose 0.3%.<\/p>\n<\/li>\n<li>\n      In Asia, the Shanghai Composite\u00a0SHCOMP\u00a0rose 1.2% and Japan\u2019s Nikkei 225\u00a0NIK climbed 0.7%, while Hong Kong\u2019s Hang Seng Index\u00a0HSI rose 1.4%.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts_and\"><\/span>William Watts and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\" \",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"> <\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_DeCambre\"><\/span>Mark DeCambre<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-74D8-4EB07615F1F7%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Market Snapshot: Dow rises 140 points after key inflation reading, as Nike shares surge&#8221; Shares of Dow component Nike jump more than 13% after revenue surges U.S. stocks were building on a record climb Friday morning as investors parsed readings on inflation and consumer spending and incomes, a day after an agreement on infrastructure spending&#8230;<\/p>\n","protected":false},"author":1,"featured_media":283771,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-283770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/283770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=283770"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/283770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/283771"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=283770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=283770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=283770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}