[MARKET ANALYSIS] Global equities rebound, supported by lower energy prices while NKE suffers after revenue missed and forecasts FY sales decline

This is a broad risk-on session built on two established transmission channels: a softening crude complex easing input-cost and inflation pressure across equity sectors, and a stock-specific earnings shock confined largely to the consumer complex. Coordinated stock releases of the kind reported here have historically weighed on crude at announcement but faded as a driver once the physical volumes and cadence became clear; past episodes show the market distinguishing sharply between headline barrels and actual drawdown, with the curve structure and refining margins the cleaner tells than flat price. The sector pattern is the familiar inverse one, energy lagging while duration-sensitive tech leads, a configuration that has tended to persist only while the energy move looks disinflationary rather than demand-driven. On Nike, weakness concentrated in Greater China and Jordan Brand is a continuation of a multi-quarter pattern rather than a new development, and the read-across to European athleisure and luxury peers has in prior instances been sharp initially and then partially retraced once the stock-specific element is separated from the China demand signal. Guidance withdrawals of the kind seen at Volvo Cars, citing China and the US recovery, have historically invited scrutiny of peer China exposure rather than standing alone. The next tells are follow-through in crude after the proposed release details, and whether Nike's after-hours loss holds into the cash session given the supportive tape.