In equity markets, shares of Nike rose +3.05%, hitting an all time high of $82.42 being by far the best performer on the Dow after receiving a broker upgrade by investment bank Piper Jaffray and Susquehanna. Netflix also performed well rising +3.5% overnight after the company confirmed it was testing ads on its platform. Intel Corp fell away during the trading session dropping -1.3% after reports surfaced regarding the company’s disclosure of security bugs in some of it microprocessors may mean cloud companies would seek other suppliers.
Estee Lauder shares rose 3.4% after beating analysts’ expectations and in some M&A action, PepsiCo agreed to buy SodaStream for $3.2 billion or $144 per share representing a 10.9% premium from SodaStream’s closing price of $129.85. Shares of SodaStream rose +9.4%.
Moving way from equities and into commodity markets, oil rose as Brent crude rose 38 cents to settle at $72.21 a barrel, a 0.5 percent gain. WTI crude rose 52 cents, or 0.8 percent, to end at $66.43 a barrel. In currency markets, the dollar index fell -0.3% to a low of 95.83, the euro gained +0.34% to $1.148 against the US dollar and the Turkish lira fell 1.5% after S&P Global and Moody’s downgraded the country’s sovereign credit rating further into junk territory.
Chart of the Day: Nike Inc (NKE) daily chart