Posted 3/21/2024, 10:29:00 PM
NIKE, FedEx Earnings Top Views; Stocks Rise on Rate Cut Hopes
- NIKE beats earnings and revenue expectations, likely from cost cutting such as 1,500 job cuts
- FedEx beats on earnings but misses on revenue; returning cash to shareholders
- Lululemon beats on earnings and revenue but provides light guidance for next quarter
- Major indices up strongly for the week on interest rate cut hopes and strong economic data
- Small cap Russell 2000 index outperforms with 1.25% gain as market momentum continues
