The Latest Breaking News from NKE

The consumer discretionary industry is set for significant growth due to the global economic rebound, easing inflation, shifting consumer behavior, and increasing luxury needs. Hence, investors could consider buying fundamentally strong consumer discretionary stocks such as McDonald’s (MCD), NIKE (NKE), and Starbucks (SBUX) on the dip. Read on.

Nike has hit a rough patch recently with the stock down 56% from its all-time high. NKE is also the most oversold stock in the Dow Jones Industrial Index as measured by RSI.

Nike stock is spiraling Friday after the athletic and apparel retailer missed sales estimates for its most recent quarter and lowered its outlook for its new fiscal year.

September S&P 500 E-Mini futures (ESU24) are down -0.07%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.10% this morning as market participants awaited a flurry of U.S. economic data, a presidential debate, and an earnings report from the world’s largest shoemaker Nike.

September Nasdaq 100 E-Mini futures (NQU24) are trending down -0.23% this morning as an underwhelming sales forecast from chipmaker Micron weighed on sentiment, while investors awaited a flurry of U.S. economic data, a presidential debate, and an earnings report from the world’s largest shoemaker Nike.

The mega-cap chipmaker shed more than 4% this week, creating headwinds for the S&P 500 and Nasdaq.

NIKE's stock has marginally outperformed the broader Consumer Cyclical sector recently but underperformed over the longer term. Despite this, Wall Street analysts remain optimistic about the stock’s prospects.

NIKE has lagged behind the broader market over the past year, yet Wall Street analysts remain optimistic about its upside.

Quality dividend stocks McDonald's and Nike are trading at a significant discount to consensus price target estimates, while offering investors a tasty dividend yield.