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U.S. stock futures are pointing lower following yesterday’s market surge on Federal Reserve rate-cut projections; Nvidia (NVDA) CEO Jensen Huang said that the company plans to spend “several hundred billion” on on its U.S. supply chain; Nike (NKE) is set to report quarterly results after the bell as investors await updates on its turnaround plans; Boeing (BA) shares are in focus after an executive’s bullish comments on tariffs and an announcement on new orders; and FedEx (FDX) is expected to report 20% year-over-year adjusted earnings per share (EPS) growth after markets close. Here’s what you need to know as an investor today.
- 1. US Stock Futures Point Down After Indexes Surge On Fed Projections
- 2. Nvidia CEO Says Firm Plans to Spend 'Several Hundred Billion' on US Production
- 3. Nike Seen Reporting Declining Performance After Bell
- 4. Boeing Stock in Focus Following New Orders, CFO's Bullish Remarks
- 5. FedEx expected to report a soaring profit after Bell
1. US Stock Futures Point Down After Indexes Surge On Fed Projections
U.S. Stock Futures are pointing downwards after indexes rose in the previous session, after the Federal Reserve maintained its projections that it would cut interest rates twice this year. Nasdaq futures are about 0.7% lower after the tech-focused index added 1.4% Wednesday, while Dow Jones Industrial Average and S&P 500 futures also are trading lower after gains yesterday of 0.9% and 1.1%, respectively. Bitcoin (BTCUSD), which is currently trading at $85,000, is also down. Gold and oil futures have also been edging lower. The yields of the 10-year Treasury notes are decreasing to close to 4.2%.
2. Nvidia CEO Says Firm Plans to Spend 'Several Hundred Billion' on US Production
Nvidia’s (NVDA) CEO Jensen Huang said to the Financial Times that Nvidia plans to spend “several hundreds of billions” of dollars on manufacturing electronics and chips in the U.S. during the next four years. The report noted that this change is occurring as President Donald Trump has implemented tariff policies that could disrupt supply chains, including those of Nvidia’s Asian suppliers. Nvidia shares have fallen 0.7% in premarket trade.
3. Nike Seen Reporting Declining Performance After Bell
Nike (NKE), the sneaker giant, is lowering its shares in premarket trading before the release of its quarterly report. Investors will be waiting for the new CEO Elliott Hill to give an update on how the company is doing. Visible Alpha estimates Nike’s fiscal third quarter revenue to be $11.02 Billion, down from the $12.43 Billion reported a year ago. Earnings per share will also decline to $0.28. Nike shares have dropped by over a quarter in value over the last 12 months.
4. Boeing Stock in Focus Following New Orders, CFO's Bullish Remarks
Boeing (BA), the stock of the plane maker, is edging lower during premarket trading. Yesterday’s gain was its largest in almost two years. Investors responded positively when Chief Finance Officer (CFO), Brian West, told an industry conference the company did not expect to see any near-term impacts caused by the Trump Administration’s tariffs against aluminum and steel. Stocks also rose after Japan Airlines announced it had ordered 17 new Boeing 737-8 airplanes.
5. FedEx expected to report a soaring profit after Bell
FedEx (FDX) is set to report fiscal third-quarter results after markets close, with analysts mostly bullish on the shipping giant’s stock. According to VisibleAlpha, the average analyst’s price target for the company’s shares is $317. This would indicate a 28% increase from Wednesday’s closing. Analysts expect the adjusted EPS to be up 20% from a previous year to $4.63, and revenue to be up 1% to $21.96 Billion. FedEx shares have been moving lower during premarket trading.
