Wall Street advances driven by figures from Nike; the stock shoots up almost 15%

The three main indices of Wall Street trade at a profit Wednesday morning. The market is excited after the rise in the shares of Nikeafter announcing better than expected results, and despite a possible recession on the horizon.

The main index Dow Jones, made up of the shares of 30 industrial giants, gains 1.55% to a level of 33,359.88 units. The reference S&P 500, of 500 components, advances 1.45% to 3,877.09 points. The Nasdaq technology rises 1.52% to 10,707.53 units.

Stocks have been under pressure this week as investors fear a recession will be inevitable in 2023 due to rate hikes. However, the information issued by Nike builds confidence in the health of consumption in the United States.

All major S&P sectors are trading in the green with the main gains going to financials and non-core goods companies. Among the 30 Dow Jones stocks, 29 of the 30 stocks are up, led by Nike, which is up nearly 15 percent.

“Nike embarked on a crazy upward run after reporting a better-than-expected quarter in terms of sales and earnings per share. The company raised its estimate to end 2022, as a result of purchases before the holidays,” eToro explained. .

jose.rivera@eleconomista.mx