The markets had a hard time gaining traction today thanks again to oil prices which slid more than 2% today. The Dow 30 was lower by 51, the S&P 500 lost 1, but the tech heavy, Nasdaq 100 was able to add 45. Going forward all eyes will turn to a new health care bill that will be offered up along with unemployment claims which are due out tomorrow.
Nike (NYSE: NKE) shares were higher today as news came out from Goldman Sachs that the athletic apparel company is considering selling its products directly through Amazon. Analyst Lindsey Drucker Mann said, "Taking this step would give NKE direct economic exposure to a large and fast growing distribution channel, while improving the brand presentation and expanding access to millennial shoppers." That was good enough for investors which cheered the news. Shares of Nike have struggled recently along with other retail names. Shares of the company are now higher by 3% on the year.
eBay (NASDAQ: EBAY) shares were flat today as investors questioned the net profit margins of the company going forward. This was due to an announcement from eBay that said the company will match Amazon's, Walmart's and others' prices on more than 50,000 items. eBay's new Price Match Guarantee promises customers that it will have the best deal online or match the lowest price of a competitor. Retailers have been under pressure to keep up with the low margins of Amazon.
Oracle (NASDAQ: ORCL) was higher today going into their earnings report after the close. Analysts are interested in the results of its cloud business and if it's able to finally see an uptick in profit and revenue. The street will be expecting earnings per share of 78 cents on revenue of $10.45 billion. Shares have been up for the previous five days in anticipation of the earnings announcement.