News

The Dow Jones dropped nearly 200 points on Thursday morning following the release of the latest jobless claims data, which showed a slight uptick. In addition to the labor data, persistent tensions in the Middle East and an ongoing port strike have fueled fears of inflationary pressures.

Southwest Airlines (LUV) just got a big endorsement of its turnaround plan — from the inside. Reuters reports that board of directors member Rakesh Gangwal, the founder of the Indian budget airline Indigo, purchased a $100 million block of shares of the company.

Costco Wholesale (COST) is getting further into the precious metals business. While gold bars and silver coins have previously been top of mind for shoppers, the retailer is now adding a third precious metal: platinum.

Nike’s (NKE) shares dropped 8% during early trading hours on Wednesday after the company withdrew its full-year guidance and postponed its investor day. The moves created uncertainty among investors on the company’s turnaround efforts under incoming CEO Elliott Hill, who takes over on October 14.

As Nike (NKE) gears up for a pivotal leadership transition, the iconic brand faces a challenging road ahead in an increasingly competitive retail landscape, according to a research note from financial firm Jefferies (JEF).

Mortgage rates ticked up slightly for the first time in months last week, cooling off hot demand for refinancing. But demand for purchase applications — mortgages to buy a home — continued to rise.

Nike (NKE) is striving to “Just Do It,” but its latest quarterly earnings suggest it may be too soon to determine success. Now, the company has postponed its investor day, which was set for November.