Investors have been in a good mood so far this week, but everything can change when the Federal Reserve is poised to make a pronouncement on monetary policy. The Fed will give its latest guidance on interest rates on Wednesday afternoon, and in advance of the central bank's release, markets didn't move much. The Dow Jones Industrial Average (DJINDICES: ^DJI) was down about 0.1% shortly after the beginning of the regular trading session Wednesday morning.

Weighing on the Dow somewhat, shares of Nike (NYSE: NKE) were lower after the athletic shoe pioneer released its latest financial results. However, the decline in Nike's stock was relatively small compared to what shareholders in Petco Health and Wellness (NASDAQ: WOOF) had to endure, as the pet retailer also gave its most recent financial report to investors. Here's why both stocks moved lower early Wednesday.

Shares of Nike were down between 1% and 2% just after the open on Wednesday morning. The company's fiscal third-quarter financial report for the period ended Feb. 28 showed solid demand from consumers, but Nike wasn't able to generate as much profit in a highly promotional environment across the retail sector.

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Source Fool.com