US stocks open higher after 3 days of losses; Nike surges

AP News
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Posted: Sep 25, 2015 9:40 AM
US stocks open higher after 3 days of losses; Nike surges

NEW YORK (AP) — U.S. stocks are opening solidly higher after a three-day slump.

Nike surged 7 percent early Friday, the most in the Standard & Poor's 500, after its results easily beat analysts' estimates.

The Dow Jones industrial average climbed 174 points, or 1.1 percent, to 16,376 as of 9:35 a.m. Eastern time Friday.

The S&P 500 rose 14 points, or 0.7 percent, to 1,946. The Nasdaq composite increased 34 points, or 0.7 percent, to 4,769.

European markets were sharply higher, led by gains in automakers ahead of an announcement of a new CEO for Volkswagen. BMW surged 5 percent.

Crude oil rose 2 percent to $45.85 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.16 percent.