Wall Street climbs on Nike, biotech lift

Dow component Nike (NKE.N) jumped 3.7 percent to $101.95 after it posted a quarterly profit that beat market estimates. "There is a tug-of-war going on between current valuations in our market and a lot of bad news being priced into a strong dollar, with no good news being priced into a strong dollar," said Art Hogan, chief market strategist at Wunderlich Securities in New York. The Dow Jones industrial average (.DJI) rose 140 points, or 0.78 percent, to 18,099.03, the S&P 500 (.SP