Wall Street Ends Week on a High with FedEx, Apple, and AI Optimism

Wall Street's major indexes concluded the week on a positive note, buoyed by FedEx's strong earnings impact. The delivery giant reported higher-than-expected quarterly profits and revenue, driven by domestic delivery strengths and cost-cutting measures, neutralizing weaker international performances. Apple's stock surged after a favorable price target adjustment by J.P. Morgan, further amplified by gains in Palantir Technologies and Oracle, lifting the S&P 500's technology sector.

Earlier, markets fluctuated as investors grappled with the Federal Reserve's policy direction. Stephen Miran, the latest Fed governor, hinted at a potential relaxation in inflation targets, signaling stronger stock market prospects. In a day of robust trading, the S&P 500 advanced by 0.47% to 6,662.84, the Nasdaq rose 0.69% to 22,625.48, and the Dow Jones gained 0.36% to 46,315.77.

In corporate developments, President Trump and China's Xi Jinping advanced discussions concerning a TikTok deal, planning an upcoming meeting. Concurrently, a U.S. government shutdown loomed as the Senate rejected a short-term funding bill. Lennar's stock dipped due to lower profit forecasts, while Paramount Skydance's shares surged with speculation over its bid for Warner Bros Discovery.

(With inputs from agencies.)