New York, Feb 21, 2026, 10:26 EST — The market is closed.
- Nike slipped 0.32% by Friday’s close, following an intraday move of 8%.
- The Supreme Court’s decision striking down Trump’s emergency tariffs sent stocks up at the open, but that initial surge quickly faded and markets reversed course.
- Traders are now watching for Tuesday’s replacement tariff launch, with Nike’s March 19 earnings also on the radar.
Nike Inc finished Friday’s session at $65.40, slipping 0.32%. Shares saw a low of $63.33 and topped out at $68.49. Roughly 33.4 million shares traded hands.
The move came just after the U.S. Supreme Court tossed out the bulk of President Donald Trump’s broad tariffs, ruling he overstepped his authority under the 1977 International Emergency Economic Powers Act. Tariffs—essentially taxes on imported goods—are set for a shakeup, with the White House announcing that Trump’s new 10% global tariff kicks in at 12:01 a.m. Eastern time Tuesday.
Tariffs aren’t just talk for Nike (NKE)—they’re baked right into the numbers. Jefferies analysts pointed out that Nike’s fiscal 2026 outlook already assumes a 7.7% tariff hit, translating to roughly $1.5 billion in added costs. The analysts say a recent court ruling could turn that pressure into a boost for margins.
For a few hours, broader markets breathed easier after the ruling. “Today is a removal of some uncertainty, and we’re on to the next phase,” said Mike Dickson, head of research and quantitative strategies at Horizon Investments. U.S. stocks closed up on Friday, brushing off new data showing economic growth slowed while inflation ticked higher. Reuters
The risks aren’t hard to spot: policy reversals and the unresolved issue of refunds. “It’s a huge unresolved question,” said Michael Townsend, Schwab’s managing director for legislative and regulatory affairs, referring to whether companies will get money back for duties they’ve already paid. He noted that sorting it out could take “years.” Schwab’s Liz Ann Sonders pointed to research indicating that “more than 90%” of the tariff costs have landed on U.S. importers — Nike’s customer base. Schwab Brokerage
Nike shares initially surged 4.4% right after the tariff ruling, only to give up those gains and slip into the red as traders paused, looking for clarity on what the administration would do next.
Apparel stocks showed mixed action. Lululemon closed up 2.4%, Under Armour jumped 5.2%, and VF Corp ticked 2.0% higher on Friday, reflecting how name-by-name positioning is driving moves across the sector.
Nike’s next event for shareholders is on the calendar. The company set a quarterly dividend at $0.41 a share, with payment slated for April 1. Investors holding shares as of March 2 will be eligible.
Earnings are up next. Nike is set to release its results March 19, as listed on the Yahoo Finance earnings calendar.
Monday kicks off a week centered on Tuesday, Feb. 24, as markets brace for the rollout of the new 10% global tariff—and watch closely to see if it holds or broadens. Past that, Nike holders pivot right back to the fundamentals: checking on demand, eyeing pricing discipline, and trying to spot if any break on tariffs ends up helping margins or just gets lost to competition.
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