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Nike’s $36 share price puts its Dow position at risk as it faces S&P 100 removal on Sept. 21
S&P Dow Jones Indices said it will remove Nike from the S&P 100 before trading begins on September 21. Nike’s shares have recently traded around $36, leaving it the smallest-weight component in the price-weighted Dow Jones Industrial Average. Goldman Sachs, the Dow’s highest-weighted stock, has traded around $968—about 27 times Nike’s price. CEO Elliott Hill said on a June earnings call that the company is operating in a tougher macro environment with rising pressure on consumer traffic and discretionary spending.
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IREN’s AI expansion hinges on Horizon 2–4 delivery as $4 billion ARR is tied to 2026 capacity
IREN Limited has contracted $4 billion of annual recurring revenue tied to 2026 capacity, though only $1 billion was operational by late August. Horizon 1 acceptance has validated execution, while Horizons 2 through 4 are the key test for the company’s December commissioning targets. Customer prepayments cover 45% to 55% of GPU capex, and equipment financing can fund approximately 90% of GPU costs. IREN trades around 5.8 times FY2027 consensus sales, falling to 2.2 times FY2028 revenue as capacity scales.
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Indian rupee ends flat at 95.93 per dollar as RBI action and index-related inflows offset Fed hike
The Indian rupee closed little changed on Thursday, supported by likely central bank intervention and inflows tied to an equity index rebalancing that helped counter pressure from a U.S. rate hike. Most Asian currencies weakened as the dollar strengthened, with the dollar index holding above 100. The Reserve Bank of India also absorbed surplus rupee liquidity via an open market debt sale.
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