S&P 500 futures experienced a slight 0.2% decline, while Nasdaq 100 futures dipped by 0.3%. Additionally, futures tied to the Dow Jones Industrial Average slipped by 68 points, or 0.2%.
One notable stock experiencing a downturn is FedEx, which saw an 11% slump during premarket trading. This comes in the wake of the package delivery giant’s disappointing revenue outlook for the fiscal year. Furthermore, FedEx’s results for the fiscal second quarter fell short of Wall Street’s expectations on both the top and bottom lines.
Despite these developments, the overall stock market had a positive performance during Tuesday’s regular trading session. The S&P 500 gained 0.59%, inching closer to its record close and intraday high achieved in January 2022.
In a similar vein, the Nasdaq Composite surged by 0.66%, surpassing the 15,000 level for the first time since January 2022. Simultaneously, the 30-stock Dow advanced by 251.90 points, or 0.68%, achieving a fresh record high. Both indexes secured their ninth consecutive winning day, highlighting the current bullish market sentiment.
As the year comes to a close, all three major indexes are on track for a successful December and a positive performance in 2023. Investors are optimistic about continuing market momentum and are eagerly anticipating potential interest rate cuts from the Federal Reserve in the coming year.
Source (CNBC)
