Wall Street set for higher open as Nike provides lift

Dow component Nike's rose 5.2 percent to $103.42 in premarket 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. Biotechs are likely to continue to rally as Biogen Idec shares jumped 7.9 percent at $467.99 in pre