Dow Futures Edge Lower As Investors Watch Out For Trump-Xi Call: FDX, UPS, LEN, INTC Among Stocks To Watch

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While Dow Jones futures were down 0.04% at the time of writing, the S&P 500 futures were up 0.03%.

U.S. stocks appear set for a cautious opening on Friday ahead of a crucial call between President Donald Trump and his Chinese counterpart, President Xi Jinping, on TikTok and breaking the gridlock in the trade war between the United States and China.

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While Dow Jones futures were down 0.04% at the time of writing, the S&P 500 futures were up 0.03%, while the tech-heavy Nasdaq 100’s futures gained 0.08%. Futures of the Russell 2000 index were down 0.12%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.12% at the time of writing, while Invesco QQQ Trust (QQQ) rose 0.18% on Friday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Asian markets ended Thursday’s trading session on a largely negative note, with the TWSE Capitalization Weighted Stock index declining the most at 0.75%, followed by the Nikkei 225 at 0.62%, the KOSPI at 0.47%, and the Shanghai Composite at 0.3%.

The Hang Seng index edged up by 0.03%.

Stocks To Watch

  • FedEx Corp. (FDX): FedEx shares surged over 5% pre-market after the company’s first-quarter (Q1) results beat Wall Street expectations. FedEx reported earnings per share (EPS) of $3.83 on revenue of $22.2 billion, while analysts expected an EPS of $3.61 on revenue of $21.65 billion, according to Stocktwits data.
  • United Parcel Service Inc. (UPS): UPS shares gained nearly 2% pre-market after the company terminated its plan to acquire Mexico’s Estafeta.
  • Lennar Corp. (LEN): Lennar shares fell over 3% after it reported third-quarter (Q3) results, with its profit falling for the fourth consecutive quarter. It reported an EPS of $2.29 on revenue of $8.81 billion, while analysts expected an EPS of $2.1 on revenue of $8.97 billion, according to Stocktwits data.
  • Intel Corp. (INTC): Intel shares declined by over 3% after surging by over 23% on Thursday, after Nvidia Corp. (NVDA) announced an investment of $5 billion.

 

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