Why Is Nike Stock Surging On Wednesday?

Nike Inc. (NYSE:NKE) shares are up on Wednesday, moving in tandem with broader market trends. The stock is benefiting from a generally positive market environment, as the Dow Jones is up 0.62%, while the S&P 500 is down only slightly by 0.40%, indicating a mixed but somewhat supportive backdrop for Nike’s performance. • Nike shares are climbing with conviction. What’s driving NKE stock higher?Last week, the athletic footwear giant announced plans to cut 775 jobs at its U.S. distribution facilities as part o ...