US: Nike lifts S&P 500, Dow ahead of business activity data

[NEW YORK] The S&P 500 and the Dow opened higher on Wednesday, with Nike hitting a record high following a strong quarterly earnings report, while investors looked to domestic business activity data to gauge the pace of an economic rebound.

The Dow Jones Industrial Average rose 125.42 points, or 0.46 per cent, at the open to 27,413.60 and the S&P 500 opened higher by 4.54 points, or 0.14 per cent, at 3,320.11.

The Nasdaq Composite dropped 12.81 points, or 0.12 per cent, to 10,950.83 at the opening bell.

REUTERS