Nike lifts S&P and Dow, chip stocks weigh on Nasdaq


By Sruthi Shankar(Reuters) - The S&P 500 and the Dow were lifted by gains in Nike on Friday, but the tech-heavy Nasdaq was weighed down by losses in chip stocks led by Micron Technology.Shares of the world's largest footwear maker rose 3.5 percent after the company said it expected its North America business to return to growth in the latter half of the year.

Micron Technology fell more than 6 percent after Citigroup downgraded the chipmaker, citing falling NAND prices. The company, however, posted better-than-expected quarterly results on Thursday.'Shares.

This article is no longer available in our repository.

There could be multiple reasons for this.