Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average slumped Thursday after U.S. economic data were weaker than expected.
  • Nike Inc. (NKE - Get Report) declined 1.06% after Duke's Zion Williamson, one of the most popular collegiate athletes in the United States and a projected No. 1 pick in this year's NBA draft, injured his knee after his Nike shoe collapsed during a nationally televised game in North Carolina.
  • Domino's Pizza Inc. (DPZ - Get Report)  fell 9.15% after the pizza chain posted weaker-than-expected fourth-quarter earnings as comparable sales at its U.S.-owned stores slumped 3.6%.

Wall Street Overview

Stocks tumbled on Thursday, Feb. 21, despite multiple reports of significant progress in U.S.-China trade talks as weaker U.S. economic data dented sentiment.

The Dow Jones Industrial Average declined 104 points, or 0.4%, to 25,851; the S&P 500 fell 0.35% and the Nasdaq was down 0.4%. The Nasdaq snapped a eight-session winning streak. 

Negotiators from both the U.S. and China working this week in Washington have drawn up several memorandums of understanding, covering issues ranging from agricultural purchases to intellectual property protection, that would define the nature of any broader agreement the two sides may reach over the coming weeks and months, several media outlets reported Thursday.

The agreements, while still in the draft stage, would mark the most significant progress in the current round of negotiations, which began in early December, and could suggest that Donald Trump is more likely to extend the March 1 trade deal deadline in order to allow the process to play out.

Durable goods orders in the U.S. in December rose 1.2%, with much of the gain coming from sales of commercial aircraft. Economists had expected durable goods to rise 1.4%. Orders for non-defense capital goods excluding aircraft, however, fell 0.7%, the Commerce Department said in the report, which was delayed because of the 35-day partial government shutdown that ended in January.

Meanwhile, the Philadelphia Federal Reserve's business index fell to negative 4.1 in February, much weaker than economists' expectations, from 17 in January. 

Domino's Pizza Inc. (DPZ - Get Report) posted weaker-than-expected fourth-quarter earnings as comparable sales at its U.S.-owned stores disappointed investors amid increasing competition from rivals and delivery services.

Domino's said earnings for the three months ended in December were $2.62 a share, shy of the Wall Street consensus forecast of $2.69. Revenue rose 13% to $1.08 billion and just missed the consensus forecast of $1.1 billion. U.S. company-owned same-store sales rose 3.6%, the slowest pace in four years and well below the consensus estimate of 6.6%.

Domino's shares fell 9.15%.

Wendy's Inc. (WEN - Get Report)  posted fourth-quarter adjusted earnings of 16 cents a share, 1 cent ahead of estimates, but revenue of $397.8 million missed analysts' forecasts of $400 million. Wendy's said it expects sales growth in 2019 of 3% to 4%. The stock rose 0.57%.

Nike Inc. (NKE - Get Report) declined 1.06% Thursday after Duke's Zion Williamson, one of the most popular collegiate athletes in the United States and a projected No. 1 pick in this year's NBA draft, injured his knee after his Nike shoe collapsed during a nationally televised game in North Carolina.

Nike promised to investigate the incident.

"We are obviously concerned and want to wish Zion a speedy recovery," Nike said in a statement. "The quality and performance of our products are of utmost importance. While this is an isolated occurrence, we are working to identify the issue."

Johnson & Johnson (JNJ - Get Report) has received subpoenas from the Department of Justice and the Securities and Exchange Commission in connection with the safety of its baby powder and talc products, the company said in its annual federal report filed with the SEC. The stock fell 0.68%.

The company said it will comply with the subpoenas.

Johnson & Johnson is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells JNJ? Learn more now.

Apple Inc. (AAPL - Get Report) has teamed up with Goldman Sachs Group Inc. (GS - Get Report) to offer a new credit card that will help users manage their money, The Wall Street Journal reported Thursday. Apple shares fell 0.56%, while Goldman Sachs slipped 1.13%.

Gold miner Newmont Mining Corp. (NEM - Get Report)   was basically flat after it posted adjusted profit of 40 cents a share in the fourth quarter, beating analysts' forecasts of 24 cents. Sales in the quarter were $2.05 billion, topping consensus of $1.88 billion. 

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