Nike Inc. reported its fiscal first-quarter profit rose 15 percent as demand grew for its sneakers and athletic apparel in nearly every market worldwide despite an uncertain global economy.

The results, which were reported after the close of the stock market on Thursday, beat Wall Street's expectations and sent its shares up in after-hours trading.

Under the weight of political uncertainty, turbulent stock markets and renewed fears that the U.S. and the global economy are headed for recession, people are more closely watching every dollar they spend. Despite the economic pressures, consumers have shown a willingness to spend on some of their favorite brands like their Nike sneaks, Starbucks coffee and McDonald's hamburgers.

The Federal Reserve is making its third try at stimulating the economy in less than three years. Since its last attempt ended in June, the economy has been slowing. And stocks have been falling as investors feared that the country was heading for another recession.

Some questions and answers about the Fed's move:

Q. What did the Federal Reserve say it would do?

A. The Fed on Wednesday announced a new effort to drive down long-term interest rates. The plan is to sell $400 billion in Treasurys coming due in the next few years and use the cash to buy Treasurys due between six to 30 years from now. The move is designed to nudge down long-term interest rates, already at record lows, and make it even cheaper for corporations and consumers to borrow.

Fed-watchers had expected the move and had a name ready: "Operation Twist." It's a nod to economic history and Chubby Checker. In 1961, the Kennedy administration cut long-term rates while leaving short-term rates alone. They dubbed the move Operation Twist, after the dance craze.

Q. How did markets react?

A. Stock indexes took a dive. The Standard & Poor's 500 index dropped 2.9 percent, its biggest loss since Aug. 18. The Dow Jones industrial average fell 2.5 percent. Commodities from crude oil to gold and copper dropped, usually a sign traders are betting on a weaker economy.

But the Fed couldn't have asked for a better response from the bond market. Long-term interest rates hit modern-era lows. The yield on the 10-year Treasury note, a benchmark for mortgages and corporate loans, sank to 1.85 percent. The 30-year Treasury dropped to 2.99 percent.

Q. Do investors think the Fed's move will help the economy?

A. Investors and market economists seem split between those who think Operation Twist will give economic growth a slight lift and those who think it will do next to nothing.

"I don't think it's going to help," said Michael Sansoterra, portfolio manager at Silvant Capital Management. "The issue is we need to spur jobs," he said. And encouraging corporations to hire workers is out of the Fed's hands.

What the country needs, many economists say, is government spending. The Fed has already tried two rounds of bond-buying. Each effort raised hopes that Fed would stimulate economic growth. Stock markets jumped in anticipation. Starting last year, the Fed bought $600 billion in Treasurys and helped launch a rally that sent stocks up 28 percent in eight months. But the economy grew a mere 0.7 percent the first half of the year.

The Fed is "running out of bullets," said Lawrence Creatura, a portfolio manager with Federated Investors. "And it's not because they haven't done a good job. But monetary policy only takes you so far. The true solutions no longer lie with the Fed. They lie with Washington."

Facebook is trying to evolve from an Internet hangout where people swing by to share tidbits, links and photos to a homestead decorated with the memories, dreams and diversions of its 800 million users.

In what may be the boldest step yet in the company's seven-year history, Facebook is redesigning its users' profile pages to create what CEO Mark Zuckerberg says is a "new way to express who you are."

It is betting that despite early grumblings, its vast audience will become even more attached to a website that keeps pushing the envelope. To that effect, it is introducing new ways for people to connect with friends, brands and games while also sharing details about their lives from the mundane to the intimate.

Stock indexes edged higher in another bumpy trading day Wednesday as optimism grew about talks in Europe on containing that region's debt crisis.

The Dow Jones industrial average is up 34 points, or 0.3 percent, to 11,141 shortly after noon. It had been up as many as 73 points and down as many as 112 points within an hour after the opening bell.

The leaders of Greece, France and Germany will confer by teleconference later Wednesday to seek ways of avoiding a default by Greece. European stock indexes rose as investors hoped the talks would be productive. Germany's DAX rose 3.4 percent and France's CAC-40 1.9 percent. The threat of a default and the damage it could wreak on financial markets has had investors on edge for weeks.

Concerns over Europe have been driving markets lower in the past two weeks, lifting Treasurys and weighing on stocks. The yield on the 10-year Treasury note hit a record low on Monday of 1.87 percent and the S&P 500 has only risen three days this month.