CNBC·2025-10-15 16:08Market Overview - The stock market experienced gains on Wednesday, driven by better-than-expected earnings reports, which overshadowed concerns regarding escalating U.S.-China trade tensions [1] - President Trump's recent threats to China impacted the S&P 500's rally attempt, which had been supported by comments from Fed Chair Jerome Powell about potentially ending quantitative tightening [1] Portfolio Management - Discussion on the portfolio included the potential sale of Abbott Laboratories due to its recent underperformance and overlap with Danaher, which is showing signs of recovery [1] - There is a consideration to shift focus towards Johnson & Johnson, perceived as a better-managed company compared to Abbott and Danaher [1] - Salesforce's stock performance remains uncertain, with concerns about investor patience following a positive keynote from CEO Marc Benioff [1] - Starbucks is viewed as a key position with a promising turnaround story [1] - Costco is suggested as a potential buy due to its currently low valuation multiple [1] Company Analysis - BTIG initiated coverage of Nike with a price target of $100, designating it as a top pick for 2026, reflecting confidence in the company's turnaround under CEO Elliott Hill [1] - Nike's stock is considered potentially undervalued, with a price-to-earnings ratio that may not accurately reflect its future earnings potential, which are expected to rebound [1]