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 Nike Inc.'s strong 30 percent gain in quarterly profit helped Wall Street gain confidence that some companies are faring well despite the credit crisis. The athletic shoe and apparel company said late Wednesday that sales overseas increased largely because of the weak dollar.
On Wednesday, the stock market plummeted, giving back much of Tuesday's big advance as investors grew worried
-- once again -- about the possibility of further troubles at banks with mortgage-related debt on their books. After surging 420 points on Tuesday, the Dow Jones industrial average dropped back nearly 300.
On Thursday, investors appeared ready to buy again. But as the fickle market has taught investors over the past few months, the market can change direction in mere minutes. With data on weekly unemployment claims, the Philadelphia region's manufacturing activity, and leading economic indicators on tap, Wall Street remains cautious.
Dow futures rose 62, or 0.51 percent, to 12,181. Standard & Poor's 500 index futures rose 4.10, or 0.32 percent, to 1,303.50, while Nasdaq 100 index futures rose 7.00, 0.41 percent, to 1,731.50.
Bond prices slipped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.37 percent from 3.34 percent late Wednesday.
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 The dollar rose against other major currencies, while gold prices sank.
Light, sweet crude extended the previous session's plunge, dropping $2.32 to $100.32 per barrel in premarket electronic trading on the New York Mercantile Exchange.
In other corporate news, the struggling Borders Group Inc. revealed early Thursday it may put itself up for sale. The nation's second-largest bookseller said it has lined up $42.5 million in financing so it can continue operating.
Stock markets overseas were mixed. Hong Kong's Hang Seng Index fell 3.5 percent, while the Shanghai Composite Index closed 1.1 percent higher after an early plunge. In midday trading, Britain's FTSE 100 slipped 0.46 percent, Germany's DAX index rose 0.03 percent, and France's CAC-40 declined 0.38 percent.
Japan's markets were closed for a national holiday.
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On the Net:
New York Stock Exchange: http://www.nyse.com/
Nasdaq Stock Market: http://www.nasdaq.com/
[Associated Press; By MADLEN READ]
Copyright 2008 The Associated Press. All rights reserved. This
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