Stock Market Today: Dow Ekes Out a Win Despite Nike Miss

Nike shares plunged after a quarterly revenue miss and downwardly revised guidance.

nike shoes
(Image credit: Getty Images)

It was a choppy day of trading as the major market indexes took time to catch their breath after a volatile week.

The Dow Jones Industrial Average fell more than 116 points out of the gate as Nike (NKE, -6.3%) stock plunged on the heels of the athletic apparel retailer's fiscal first-quarter revenue miss, announced Thursday after the markets closed. Nike also cut its fiscal 2022 forecast amid supply chain issues and production shutdowns in Vietnam.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

Karee Venema was long NKE as of this writing.

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.