Stocks mixed to close out the week The major averages had a mixed day as the Nasdaq outperformed and the Dow pulled back. The market rebounded somewhat following the hefty losses seen Thursday as mild declines in Treasury yields were supporting equities, while bargain hunting may have played a role as well. ECONOMIC EVENTS: In the U.S., no economic data of note was released. In Asia, the Bank of Japan left its benchmark rates unchanged, but tweaked its policy settings. As widely flagged in advance, the bank widened the band around its unchanged yield targets to 25 basis points. TOP NEWS: Shares of Nike ($NKE) finished 4% lower after the company reported its fiscal Q3 results. Despite a revenue miss, Nike raised its fiscal 2021 revenue guidance to up low-to-mid-teens, underpinning confidence in the underlying business, JPMorgan analyst Matthew Boss told investors. Shares of FedEx ($FDX) closed 6% higher following the company's fiscal Q3 report. JPMorgan analyst Brian Ossenbeck expects shares of FedEx will outperform after the Ground margin excluding the impact of weather disruptions "came in materially higher than buy-side expectations." The "temptation to dismiss" the Ground beat this quarter as temporary should be ignored as yield improvement is still in the early stages, Ossenbeck told investors. Last night, the NFL announced it has signed long-term agreements with media partners Amazon ($AMZN), CBS ($VIAC), Disney's ($DIS) ESPN/ABC, FOX ($FOXA) and Comcast's ($CMCSA) NBC to distribute NFL games across television and digital platforms, along with additional media rights. As part of the agreements - which will commence at the start of the 2023 season and run through the 2033 season - Amazon Prime Video will become the exclusive home to Thursday Night Football. The Federal Reserve Board announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. Additionally, the Board will seek comment on measures to adjust the SLR. Keefe Bruyette analyst Brian Kleinhanzl said he views the Federal Reserve not extending the supplementary leverage ratio exemption, which permitted central bank reserves and Treasury securities to be excluded from the leverage ratio calculation, as a "modest negative" for the universal banks. Banks have capacity to increase assets without the exemption but select banks, like JPMorgan ($JPM), were more constrained over the intermediate term, Kleinhanzl tells investors. The analyst believes the lack of an exemption extension could be positive for Northern Trust ($NTRS), saying it has an ability to attract deposits to a greater degree if other banks constrain growth. MAJOR MOVERS: Among the noteworthy gainers was Clovis Oncology ($CLVS), which jumped 47.7% after announcing that data from the Phase 3 ARIEL4 study show that Rubraca significantly improves PFS compared to standard-of-care chemotherapy, including platinum-based chemotherapy, among patients with advanced, relapsed ovarian cancer and a deleterious BRCA mutation who have received two or more prior lines of chemotherapy. Also higher was Luminar ($LAZR), which gained 16.6% after the company provided an update on its business, 2021 milestones and preliminary 2020 results, and announced a strategic agreement with China's SAIC Motor. Among the notable losers was Visa ($V), which dropped 6.2% after The Wall Street Journal reported that the Justice Department's antitrust division is investigating whether the company is engaging in anticompetitive practices in the debit-card market. Also lower was Skillz ($SKLZ), which fell 3.5% after the company's 32M share secondary offering priced at $24 per share. Russell 2000 +15.8% YTDDow Jones Industrial Average +6.6% YTDS&P 500 +4.2% YTDNasdaq Composite +2.5% YTDMarket SnapshotDow32627.97-234.33(-0.71%)Nasdaq13215.26+99.07(0.76%)SP 5003913.10-2.36(-0.06%)10-yr Note -1/321.722NYSEAdv 1758 Dec 1420 Vol 3.5 blnNasdaqAdv 2434 Dec 1481 Vol 7.4 blnIndustry WatchStrong: Communication Services, Consumer Discretionary, Health CareWeak: Financials, Real Estate, Industrials, MaterialsMoving the Market-- Market struggled to gain traction after lower start, closed mixed-- Fed announced it will let the Supplementary Leverage Ratio (SLR) exemption expire on March 31-- Bank stocks underperformed Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .