How 16 Blue Chip Stocks Are Getting Squeezed by Strong Dollar

How 16 Blue Chip Stocks Are Getting Squeezed by Strong Dollar

As the Q3 2019 corporate earnings reporting season goes into full swing for the S&P 500 companies, a rising U.S. dollar is creating yet another headwind for profits along with increased costs and faltering demand in the midst of the U.S.-China trade war and a global economic slowdown. The WSJ Dollar Index, which compares the value of the dollar to a basket of 16 other currencies, reached its highest level since 2017 in September, up by nearly 1% so far in 2019 after rising by 4.3% in 2018, The Wall Street Journal reports. At least 16 of them have indicated that the rising dollar took a significant bite out of Q3 2019 profits, including such big names as Delta Air Lines Inc. (DAL), Johnson & Johnson (JNJ), General Mills Inc. (GIS), and Nike Inc. (NKE).