Will Nike and FedEx Start a Santa Claus Stock Market Rally?
The stock market has been in the doldrums lately, posting significant declines late last week after the Federal Reserve showed no signs of letting up on its tightening of monetary policy. Fears of an economic slowdown are escalating as some economists see a recession as increasingly likely, and the potential impact on corporate earnings could be a further headwind for Wall Street as 2023 approaches.
Nevertheless, investors are hopeful that they'll see signs of resilience in the markets. This week, corporate financial reports from Nike (NYSE: NKE) and FedEx (NYSE: FDX) could set the tone for the last two weeks of the year, and if the news is good, then bullish investors might get to celebrate a Santa Claus rally to finish 2022. Here's what to expect from Nike and FedEx when they report their latest financial numbers.
Nike is scheduled to report its fiscal second-quarter financial results after the close of regular trading on Tuesday, Dec. 20. With the athletic footwear and apparel stock's price down by nearly a third since the beginning of 2022, investors in Nike are anxious to see the company's fortunes improve even in a tough macroeconomic environment.
Source Fool.com
