Nike Helps Dow Stay in Positive Territory

A roller coaster of a day for the final day of trade this week.

Continue Reading Below

At the opening bell, the Dow saw immediate gains, which went as high up as 264 points before falling more than 200 points in the final few hours of trade. The Dow did manage to close the day higher by 113 points. The S&P and Nasdaq didn't fair so well, as both averages lost all of their gains by the final hour as the S&P closed just below the flatline, and the Nasdaq dropped almost 48 points.

What helped the Dow stay in positive territory? The lift came from Nike, which on solid earnings surged more than 8%, hitting a lifetime high.

If you’re asking why the losses on  the S&P and Nasdaq? Blame it on the healthcare sector, which saw heavy selling, particularly in the biotech and pharmaceutical stocks. Out of the 143 biotech index stocks in the Nasdaq, 142 closed the day in the red.

Some of the biggest losers on the list: Celgene, Regeneron Pharma, Amgen, Vertex Pharma and Alexion Pharma.

Next week, we will be keeping an eye on personal income data coming out at 8:30 a.m. Eastern on Monday, as well as consumer confidence at 10 a.m. Eastern on Tuesday and the September jobs number at 8:30 a.m. Eastern on Friday.