The market is meandering and looking for a spark after four days of losses on fears the Fed’s fight to cool inflation by increasing rates could lead to a recession.

Continued weakness in Consumer Discretionary, with the second largest component, Tesla (TSLA), adding pressure to the sector’s underperformance. The sector is down 10.6% so far this month and down 9.7% this quarter.

Nike (NKE) is reporting after the market closes today. Investors will pay close attention to see how NKE navigated its high inventories and China’s revenue growth.  

FedEx (FDX) is another key name reporting after the bell. Its quarterly results serve for many as a proxy for the health of the U.S. economy.