economy
We're downgrading our rating on Nike after another frustrating earnings report
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- Stock markets surged Wednesday, with the Nasdaq leading gains, on optimism that the Iran conflict is nearing a resolution.
- Jim Cramer suggested that market rallies, even those starting as short squeezes, could indicate a genuine upward trend.
- Nike's stock was downgraded by the CNBC Investing Club and other firms due to disappointing earnings and weak future guidance, with issues in China and inventory problems cited.
- Boeing shares experienced a significant rally, building on Tuesday's gains, as hopes for a de-escalation of the Iran conflict lifted investor sentiment.
- The article briefly mentions other stocks discussed in the "rapid fire" segment: Advanced Micro Devices, American Express, Walt Disney, RH, and Constellation Brands.