Wednesday morning’s stock futures were mixed following the S&P 500’s recovery from a challenging start to the week.
S&P 500 futures were slightly lower, while Nasdaq 100 futures increased by 0.1%. Dow Jones Industrial Average-linked futures had a 0.2% decline.
FedEx surged 14% in after-hours trading on the release of adjusted fourth-quarter fiscal earnings that exceeded forecasts.
After Volkswagen Group announced it will spend up to $5 billion in the electric vehicle firm, Rivian Automotive saw a 40% increase in value.
Thanks to a spike in Nvidia shares, the S&P 500 and the Nasdaq Composite recovered from three days of losses during regular trading on Tuesday.
Out of the three major averages, the Dow with thirty stocks fell the most, nearly 300 points. In premarket trade, Nvidia increased by 2% after rising after three days of losses, it saw a 7% gain on Tuesday.
With its market capitalization exceeding that of the cap-weighted S&P 500, the artificial intelligence darling has significant influence over it. However, its 154% increase in 2024 has sparked worries about the rally’s narrow scope this year.
Source (CNBC)
