Wall Street's Upbeat Opening: FedEx Soars while Fed's Rate Moves Loom
Wall Street futures signal modest gains, buoyed by FedEx's strong earnings and the Fed's potential rate cuts. Intel remains steady amid Nvidia's investment, while a Trump-Xi call on TikTok looms large. The Russell 2000 hits new highs, but Lennar slides on declining profits.
Wall Street futures indicated a subdued opening on Friday, with key indexes slightly up after a record session. Notably, FedEx surged by 3.5% due to better-than-expected quarterly results, driven by domestic delivery strength and cost-cutting measures.
The market was further up by Intel's stability, following Nvidia's strategic $5 billion investment. Meanwhile, traders remain watchful of a critical phone call between President Trump and China's President Xi, potentially impacting TikTok and broader trade negotiations.
The small-cap Russell 2000 index witnessed record highs, driven by optimism over rate cuts. Analysts anticipate some volatility due to options expirations, while Lennar faced a decline following disappointing quarterly profits.
(With inputs from agencies.)
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