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Wall Street little changed as Nike weighs

The stock dragged down the S&P consumer discretionary index, which was the biggest loser among the 11 major S&P sectors, with a 0.34% fall

Reuters 

Wall Street was little changed on Friday, with a more than 4 percent drop in Nike's shares countering gains in consumer staple stocks. Nike forecast muted current-quarter revenue growth on Thursday, highlighting its struggles to regain market share in North America from Adidas. The stock dragged down the S&P consumer discretionary index, which was the biggest loser among the 11 major S&P sectors, with a 0.34 percent fall. However, the staples index was helped by a 0.7 percent rise in Procter & Gamble and a 0.4 percent gain in Philip Morris. Major Wall Street indexes ...

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First Published: Fri, December 22 2017. 22:28 IST
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