September 11, 2020 19:57 NYDT – The DOW JONES Industrial composite index is up almost half a percentage point in gains. The major notable contributors are Nike (NKE), 3M (MMM), and Coca-Cola (KO).
Nike (NKE) is seeing an increase in sales of their backpack/luggage product line for a combination of back-to-school and travel, edging up the stock price $3.21.
3M (MMM) is producing and distributing more blood plasma, pushing its stock up 1.85%. Blood plasma is the liquid portion of blood harvested to transport nutrients to cells. It is a key treatment in Coronavirus patients and informally approved for that use by the Food and Drug Administration (FDA) as there is no other effective and safe treatment at this time.
Coca-Cola (KO) is up over 2% but has analysts projecting a slowdown to sales due to COVID-19 scaling down or outright banning restaurants, sporting events, and other social gatherings. Coca-Cola (KO)’s revenue stream also depends on the strength of the US Dollar due to most sales coming from outside the United States. It’s Relative Strength Index (RSI) has dropped some, moving it out of overbought territory; yet analysts remain cautious with the long term outlook looking #amiss @nyse.