Nike (NYSE:NKE)'s earnings report, released on Thursday, showed a beat on earnings-per-share estimates, coming in at $0.94 against the projected $0.75. However, the company fell slightly short of revenue targets, reporting $12.94 billion versus the estimated $12.98 billion. Despite this minor shortfall, Nike shares experienced an uptick in after-hours trading.
Meanwhile, the NASDAQ and S&P 500 indices posted two-day gains, yet still marked their worst monthly performance since December 2023. The NASDAQ was up 108.42 points but ended the month down by 5.94%, while the S&P 500 gained 25.17 points but was down by 4.61% for the month. The Dow Jones Industrial Average also saw a rise of 116.07 points but closed the month down by 3.04%.
In related market news, US yields closed near lows, impacting prices across the board. The yield curve stood at -50 basis points, with the 2-10 year spread at -48.5 basis points. In the Forex market, the Australian dollar led other currencies.
This recent financial market activity reflects broader economic trends and investor sentiment amid ongoing global economic challenges.
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