US STOCKS-Wall St rises on Nike, lower dollar; Nasdaq hits 15-yr high

viernes 20 de marzo de 2015 17:37 GYT
 

* Nike rises after results, outlook

* Biotechs advance for eighth session

* Indexes rise: Dow and S&P 0.9 percent, Nasdaq 0.7 percent (Updates close with energy shares up, Apple down, latest volume)

By Caroline Valetkevitch

March 20 (Reuters) - U.S. stocks rose on Friday, pushing the Nasdaq to a 15-year high and helping the S&P 500 snap a three-week string of losses, following a pullback in the dollar, upbeat results from Nike and further biotech gains.

Recent sharp gains in the U.S. dollar have increased worries about the currency's impact on the earnings of U.S. multinationals. S&P 500 earnings projections for the first quarter and for 2015 have fallen sharply since Jan. 1.

Among early reporters, Nike jumped 3.7 percent to $101.98 as the biggest boost to the Dow after it posted a quarterly profit that beat market estimates. The world's largest sportswear maker sold more higher-margin shoes and apparel but warned that the stronger dollar would take a toll on its current quarter.

Energy led gains in the S&P 500, with the S&P energy index ending up 1.4 percent following a 4 percent rise in U.S. crude oil.

Stocks trimmed gains ahead of the close, dragged down by a 1.3 percent fall in Apple, which began trading in the Dow on Thursday.   Continuación...