UAA - Here's Why Nike Under Armour and Foot Locker Stocks Are Surging Today
Stocks are up massively today, with both the Dow Jones Industrial Average and S&P 500 posting 5% gains as of 12:15 p.m. EDT. Sports apparel and footwear makers and retailers Nike Inc (NYSE: NKE), Under Armour (NYSE: UA)(NYSE: UAA), and Foot Locker (NYSE: FL) have surged ahead of the major indices, up 6%, 8.3%, 10.6%, and 15% respectively.
Over the weekend, the news was mostly bleak as COVID-19 cases spread around the world, and the U.S. passed 300,000 cases and approached 10,000 fatalities. The next two weeks are expected to be extremely painful as the healthcare system in many parts of the country gets pushed to the limit.
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