Nike sprints down Wall Street | Financial

The leading Dow Jones index was 0.4 percent lower at 27,173 points around 7:30 PM (Dutch time). The broad S&P 500 lost 0.7 percent to 3,290 points and tech gauge Nasdaq lost 1.2 percent to 10,830 points.

Nike won almost 10 percent. The company has benefited in recent months from sharply increased sales through its own webshop. Sportswear makers Under Armor and Lululemon Athletica and sportswear retailer Foot Locker rallied in the wake of Nike with profits of up to 5 percent.

Tesla (minus 7.2 percent) continued to lose stock market value after losing the day before. CEO Elon Musk of the maker of electric cars announced at the Battery Day event that the production of the new cheaper batteries and the affordable car will still be a few years away.

Johnson & Johnson (J&J) rose 1.2 percent. The pharmaceutical company starts testing his experimental corona vaccine on 60,000 subjects. The vaccine is being developed by subsidiary Janssen in Leiden. The intention is that the first results will be published by the end of this year and that a vaccine must be ready for emergency use by the beginning of next year.

Delta Air Lines (plus 0.5 percent) was also in the spotlight. The airline is said to be working on an arrangement with aircraft maker Airbus about postponement of deliveries. The company would also work on a deal where it sells aircraft and rents them immediately. All of this is meant to get through the crisis.

It was also announced that activity in the American industry grew slightly faster in September than a month earlier, according to market researcher Markit. The US services sector grew at a slightly slower pace than in August. President Donald Trump further announced a series of measures against Cuba as part of the “ongoing fight against oppression by the communist regime.”

The euro stood at USD 1.1678, compared to USD 1.1672 at the close of the European stock markets. A barrel of American oil cost 0.9 percent more at $ 40.15. Brent oil climbed 0.7 percent in price to $ 42.02 a barrel.

–