As the holiday season approaches, the market is reenergized by Nike's encouraging earnings report. The S&P 500 is already up by 1.49%, and more surprisingly, the FTSE Euro 100 is trading 1.67% higher after a terrible drop last week. The market optimism is felt across the international market, as retail sales outlooks are positive based on the Conference Board's latest consumer confidence report, which was 7.3 points higher than expected.

Nike's third quarter financial results showed strong growth in digital sales and margin expansion, leading to a 5% increase in revenues compared to the prior year. Despite some areas of concern, such as a decline in Converse revenues and a decrease in net income, Nike's strong performance and strategic investments suggest a positive outlook for the future, making the company's stock a potentially attractive investment opportunity. The share price ended the day 12.18% higher.

Other than Nike, the whole market in general had a green day. Under Armour rallied 5.21%, while semiconductors gained an average of 2.5%, mainly from cost reductions to prepare for the upcoming recession. This brief rally followed a few days of steady decline and a subsequent slowdown before the market experienced what is known as a "dead cat bounce." It is hard to tell when a market trend reversal will occur after a 6% drop within the span of a week. Technically, it may test a new resistance level at 3900 before continuing its decline If there is no Fed intervention in the first quarter of 2023, analysts all around suggest the market look into big cap stocks with a "boring" business model as the new year is on the horizon and they are likely to survive a possible market downturn.