Here are five key things investors need to know to start the trading day:
1. 42,000
The Dow Jones Industrial Average closed above 42,000 for the first time Thursday after a 500-point rally. The S&P 500 likewise notched a new record, rising 1.7% to close above 5,700. The Nasdaq Composite gained 2.5%. All three major indexes are on pace for winning weeks: The Dow and the S&P are each up about 1.5% since Monday, and the Nasdaq is up almost 1.9%. Follow live market updates.
2. Next for Nike
3. Dog days of home sales
Home sales disappointed again in August, falling 2.5% from July levels and 4.2% from a year ago. That readout from the National Association of Realtors came in slightly below what analysts expected. But it may not be all bad news. The report is based on closed contracts on previously owned home sales, meaning the dotted lines were likely signed in late June …