Dow’s Nike boosts blue chips; Nasdaq falls

June 27 05:34 2015

Stocks ended mixed Friday as the Dow moved higher, helped by Nike surging 4.3% on better-than-expected earnings. But a sharp drop in Chinese stocks and the ongoing negotiations between Greece and its international creditors continued to weigh on markets. The Nasdaq fell 0.6%, while the Dow Jones industrial average headed in the other direction — up 0.3%. The S&P 500 finished fractionally in the red.nasdaq-stock-market

The Dow couldn’t make it back above 18,000, finishing 53 shy of that level. Asian markets were lower as Chinese shares tumbled, with the Shanghai composite index plunging more than 7%.Investors expressed concern that Beijing is not doing enough to help stimulate a slowing economy.

European markets were mixed as a Greek debt negotiations threatened to drag into the weekend. It remains unclear whether Athens will be able to agree a deal with the International Monetary Fund, European Central Bank and European Commission over loan repayments ahead of a June 30 deadline. If a deal is not agreed, Greece may be forced out of the 19-nation euro-currency bloc. Britain’s FTSE 10 was down 0.8% and Germany’s DAX index gained 0.2%. In Japan, the Nikkei 225 index was down 0.3%. U.S. stocks closed lower Thursday as the Dow dropped 76 points to 17,890 and the S&P 500 fell 6 to 2102.