Today’s top headlines: Secretary Yellen’s bank assurances, Nike earnings, Fed rate hike expectations

Yahoo Finance Live anchors Dave Briggs and Seana Smith look back on Tuesday's top headlines and look ahead to tomorrow's Fed rate hike decision.

Video transcript

DAVE BRIGGS: Let's get you to closing time here at Yahoo Finance. Caught up on some of the biggest headlines of the business day.

Treasury Secretary Janet Yellen injecting some calm into the markets in comments to the American Bankers Association. Yellen said the government is ready to step in and help protect smaller banks, if necessary. She also said the situation with banks is stabilizing and that the US banking system remains sound. Those stocks-- those comments giving stocks a boost with the Dow closing more than 300 points higher.

SEANA SMITH: All right, well, Nike's third-quarter earnings topping analysts' estimates on both the top and bottom line. The retailer reporting adjusted earnings of $0.79 a share, well above the expectation of $0.54. However, despite some improvement on the inventory front, the company's margins continue to be a concern here for investors. You're looking at the shares off in extended trading.

DAVE BRIGGS: And turning to tomorrow, all eyes on the Fed. 2:00 PM Eastern Time, we'll find out if the Fed is raising rates. The expectation is we'll see a 25-point-basis hike, but given the recent banking turmoil, some are hoping the Fed hits the pause button. We'll bring you that announcement here live on Yahoo Finance.