Nike stock jumps to lead the Dow’s premarket gainers, snaps losing stretch

Shares of Nike Inc.
NKE,
-1.55%
jumped 3.0% to pace all of the Dow Jones Industrial Average’s
DJIA,
+0.47%
premarket gainers, putting them on track to snap a four-day losing streak. The athletic apparel giant’s stock had actually dropped in nine of the past 10 sessions, to close Thursday at the lowest price since Dec. 20, 2022. It has lost 13.1% during the 10-day stretch, while the Dow has slipped 1.4% over the same time. During that losing stretch, Nike received a rare “sell” recommendation from Williams Trading’s Sam Poser, who said the company’s footwear has run “stale.” The stock’s bounce Friday comes a day after Macy’s Inc.
M,
+1.18%
said it will bring Nike products back to certain stores and e-commerce operations in the fall, with plans to scale to additional stores in 2024.