News · Equities · MarketWatch · Fri, Oct 16, 2026 3:00 PM
Nike Could Be a Turnaround Play as S&P 500 Pursues Records
Image from the source feed · MarketWatch
Wall Street veteran Larry McDonald highlights Nike as a potential turnaround pick amid a market chasing record highs.
Wall Street veteran Larry McDonald argues that the S&P 500’s record‑pursuit has left many companies with declining stock prices unnoticed.
He points to the trend of record chasing as a potential red flag for investors seeking value and warns that several firms may be slipping beneath the radar.
Nike as a Potential Turnaround
McDonald identifies Nike as a possible turnaround trade, suggesting that the company’s fundamentals could outpace the broader market’s momentum.
Based on reporting from MarketWatch. Read the original.
Read our S&P 500 guide: what moves it, the key data to watch and when it trades.
OpenBook analysis
Market impact
Traders may consider Nike as a defensive play if the broader market continues to chase record highs. The stock’s performance could signal a shift in sector rotation. Investors may watch Nike’s valuation relative to peers as a potential catalyst.
Assets in focus
General market context for education only, not investment advice.
This briefing was summarized with automated tools from public reporting by MarketWatch and is general market information, not investment advice. Editorial policy & corrections