U.S. stock futures showed slight gains on Thursday evening as investors anticipate the release of the Federal Reserve's preferred inflation gauge, the personal consumption expenditures (PCE) price index. Amazon and Nike both surged after reporting strong quarterly results. The Dow Jones Industrial Average ended a 10-day losing streak, its longest since 1974, while the S&P 500 and Nasdaq Composite experienced weekly losses. Investors are closely watching the PCE report for clues on the Federal Reserve's future monetary policy decisions after the central bank signaled a reduced pace of interest rate cuts.
U.S. stock futures were slightly higher on Thursday evening as traders anticipate the latest reading of the Federal Reserve 's favorite inflation gauge.both popped following their latest quarterly results. The delivery giant rose around 8%, while the sports apparel retailer jumped more than 7%.was the only major average of the three to close in positive territory, eking out a 15-point gain and ending a 10-day losing streak — its longest since 1974.
This follows the Fed earlier this week cutting interest rates by a quarter point and indicating that it would likely only lower rates twice in 2025, fewer times than previously anticipated. That sent the market into a tailspin Wednesday, with all three indexes sinking. This latest bout of turbulence also put the major averages on track for sharp weekly losses. The S&P 500 and the Dow are down more than 3% week to date, while the Nasdaq is off more than 2% in the period.
Other economic reports are also due on Friday, including the University of Michigan's consumer sentiment index.– Shares rose 8% following the delivery giant's better-than-expected earnings. For its fiscal second quarter, FedEx reported adjusted earnings of $4.05 per share, above the $3.90 per share that analysts surveyed by LSEG were expecting. Revenue, however, came in weaker-than-expected. The company also announced that it's. Nike earned 78 cents per share on $12.
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