Dow Jumps Over 200 Points; Nike Shares Tumble After Q3 Results

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.53% to 46,586.90 while the NASDAQ rose 1.05% to 21,818.25. The S&P 500 also rose, gaining, 0.62% to 6,569.94.

Leading and Lagging Sectors

Industrials shares climbed by 1.8% on Wednesday.

In trading on Wednesday, energy stocks fell by 4%.

Top Headline

Shares of Nike Inc. (NYSE:NKE) dipped over 14% on Wednesday after the company reported better-than-expected financial results for the third quarter of fiscal 2026.

Nike reported third-quarter revenue of $11.28 billion, beating analyst estimates of $11.24 billion, according to Benzinga Pro. The athletic footwear and apparel company posted third-quarter earnings of 35 cents per share, beating analyst estimates of 31 cents per share.

Nike said it sees fourth-quarter sales of $10.656 billion to $10.878 billion, versus market estimates of $11.236 billion.

Equities Trading UP
           

• Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) shares shot up 337% to $6.82 after the company announced it entered into a definitive merger agreement with Korsana Biosciences.
• Shares of RenX Enterprises Corp. (NASDAQ:RENX) got a boost, surging 71% to $3.03 after the company announced financial results for the fiscal year ended Dec. 31, 2025.
• Mega Fortune Company Limited (NASDAQ:MGRT) shares were also up, gaining 63% to $10.50.

Equities Trading DOWN

• Neo-Concept International Group Holdings Limited (NASDAQ:NCI) shares dropped 61% to $0.7000 after dipping 70% on Tuesday.
• Shares of Linkers Industries Limited (NASDAQ:LNKS) were down 47% to $0.0126. Linkers Industries announced a 1-for-250 reverse stock split, effective April 6.
• U-BX Technology Ltd. (NASDAQ:UBXG) was down, falling 30% to $2.34 after jumping 114% on Tuesday.

Commodities

In commodity news, oil traded down 2.6% to $98.70 while gold traded up 2% at $4,773.30.

Silver traded up 0.1% to $74.95 on Wednesday, while copper fell 0.2% to $5.6025.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 2.1%, while Spain's IBEX 35 Index rose 2.8%. London's FTSE 100 surged 1.2%, Germany's DAX gained 2.4% and France's CAC 40 rose 1.7% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 surging 5.24%, Hong Kong's Hang Seng index gaining 2.04%, China's Shanghai Composite gaining 1.46% and India's BSE Sensex gaining 1.65%.

Economics

• U.S. business inventories fell by 0.1% month-over-month in January following a flat reading in December.
• The ISM manufacturing PMI rose to 52.7 in March from 52.4 in the previous month and topping market estimates of 52.5.
• The S&P Global manufacturing PMI came in at 52.3 in March down from the preliminary reading of 52.4 but higher than 51.6 in February.
• U.S. retail sales rose 0.6% month-over-month in February following a 0.1% decline in January and above market estimates of a 0.5% gain.
• U.S. private businesses added a net 62,000 jobs in March following a revised 66,000 in the previous month.

Photo via Shutterstock