Nike helps lead US stocks higher – Los Angeles Times

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Stocks are starting higher with retailers and consumer-focused companies leading the way.

Nike jumped 7.9% Friday after a strong quarterly report. The athletic apparel company also said it’s testing a program to sell sneakers through directly instead of via third-party sellers.

Commercial real estate investment trust Parkway rose 12.2% after the Canada Pension Plan Investment Board agreed to buy it for about $1.13 billion.

Organic food maker Hain Celestial climbed 7.8% after activist investor Engaged Capital disclosed a 9.9% stake in the company.

The Standard & Poor’s 500 index gained 8 points, or 0.4%, to 2,428.

The Dow Jones industrial average added 97 points, or 0.5%, to 21,384. The Nasdaq composite picked up 22 points, or 0.4%, to 6,167.