Stocks were expected to fall again on Wednesday as investors reassessed their holdings after a strong first half of the year, powered by AI plays.
The S&P 500 was on course for its fourth losing day in five, capping off a roughly 15% six-month gain. Nasdaq 100 futures lost 0.1%, while S&P 500 futures fell 0.2%. Futures contracts for the Dow Jones Industrial Average fell 100 points, or 0.2%.
FedEx rose 14% after reporting adjusted earnings that above expectations in the fiscal fourth quarter. Rivian Automotive rose 36% after Volkswagen Group announced plans to spend up to $5 billion in the electric vehicle firm.
On Friday, investors began to focus their attention to fresh inflation data with the release.
Source (CNBC)
