Nike rallied after sliding past consensus marks with its FQ2 earnings report. A drop in revenue in Greater China was more than offset by gains in Asia Pacific & Latin America, North America and Europe.  Footwear sales were up 25% to $8.50B, while apparel sales rose 4% to $3.8B. Worryingly, Nike ended the quarter with inventory up 43% year-over-year.  Net income for the sportswear giant was flat compared to a year ago at $1.3B.

Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. Applications to refinance a home loan jumped 6% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume, however, was still 85% lower than the same week one year ago.

More bankruptcy in Crypto: one of the largest US-listed bitcoin miners has filed for bankruptcy as companies battle falling token prices and rising costs for the energy-intensive business of churning out cryptocurrencies. Core Scientific filed for Chapter 11 bankruptcy protection in Texas, where it is based. The company said it planned to keep operating and producing bitcoin while it hammered out a restructuring deal with its lenders and creditors.  Last April the company’s market value exceeded $3bn.