Tiger Woods and Nike are splitting up

The Street

TheStreet’s J.D. Durkin brings you the biggest news of the day, how the market fared and one of the most prolific relationships in sports has officially ended.

Transcript

00:00 I'm JD Durkin reporting from the New York Stock Exchange.

00:03 Stocks were in the green to close out today's session.

00:05 The Dow up over 200 points, the tech-heavy Nasdaq closed up over 2% on the day, while

00:11 the S&P 500 closed 1.4% higher.

00:15 Investors are looking ahead to comments from key Fed officials later on this week, which

00:18 will give Wall Street greater clarity on the path forward for interest rates.

00:23 Markets are also anticipating two key inflation reports, Consumer Price Index on Thursday

00:28 and Producer Prices on Friday.

00:30 Both will be very closely watched as the Fed attempts to bring inflation back down to 2%.

00:37 In other news, one of the biggest relationships in sports is over.

00:40 After 27 years, Tiger Woods and Nike are officially going their separate ways.

00:46 Woods released a statement on X to thank the company, saying, "Phil Knight's passion and

00:50 vision brought this Nike and Nike-Golf partnership together, and I want to personally thank him,

00:56 along with the Nike employees and incredible athletes I've had the pleasure of working

01:00 with along the way."

01:02 The company responded with its own appreciative post, saying simply, "It was a hell of a round

01:06 Tiger."

01:08 Tiger Woods' partnership with Nike began in 1996 and at one point was worth as much as

01:14 $20 million a year.

01:16 That includes a 10-year, $200 million deal that the 15-time major champ signed in 2013.

01:22 Each of those major tournament victories saw Tiger Woods wear, of course, his patented

01:26 red Nike shirt on the final day of play.

01:29 48-year-old Woods has been slowed in recent years by a slew of injuries, including five

01:34 back surgeries, an extensive knee injury and a car crash in 2021.

01:39 That'll do it for your daily briefing.

01:40 From the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.

01:43 [BLANK_AUDIO]

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