Investors digested earnings from Nike and FedEx that sent the shares of both companies higher in after-hours trading.
on per-share earnings. The company fell short of expectations for revenue, however.
The modest gains came even after the Bank of Japan moved to widen its cap on the 10-year Japanese government bond yield, leading to a spike in the 10-year U.S. Treasury yield higher that initially rattled traders. There's a "tremendous amount of resiliency" in the market, he added, saying that should be investors' focus going into 2023.
There are a few more big names left to report earnings before the Christmas holiday. RiteAid and Cintas will report before the bell Wednesday. Micron will report after the bell.Nike and FedEx were among the top movers after hours following their quarterly results.earnings and revenue estimates for its most recent quarter. That gave a boost to other athleisure stocks. Under Armour gained more than 2% after hours, Skechers rose 2% and Lululemon added 1.75%.
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