Nike has a new product for Muslim women: The 'Pro Hijab'

The head cover, called the "Nike Pro Hijab," boasts a single-layer pull-on design made from lightweight polyester in dark, neutral colors. The fabric's tiny holes will make it breathable while remaining opaque, a requirement for hijab-wearing women.

Nike (NKE) said it began developing the hijab after some Muslim athletes complained about wearing a traditional head scarf during competition.

US stocks pare gains as health care sector slumps


A late slump in health care stocks offset gains in financial stocks Friday.

Banks and other financial companies got a boost after Federal Reserve Chair Janet Yellen said that the central bank was still likely to raise interest rates this year.

Nike jumped 9 percent after posting strong earnings.

The Dow Jones industrial average climbed 113 points, or 0.7 percent, to 16,314.

US stocks open higher after 3 days of losses; Nike surges

Nike surged 7 percent early Friday, the most in the Standard & Poor's 500, after its results easily beat analysts' estimates.

The Dow Jones industrial average climbed 174 points, or 1.1 percent, to 16,376 as of 9:35 a.m. Eastern time Friday.

The S&P 500 rose 14 points, or 0.7 percent, to 1,946. The Nasdaq composite increased 34 points, or 0.7 percent, to 4,769.