Five things to watch in markets in the week ahead
Investing.com -- U.S. stock futures traded largely unchanged Friday, near record levels in the wake of the Federal Reserve’s interest rate cut earlier in the week.
Here are some of the biggest premarket U.S. stock movers today:
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Apple (NASDAQ:AAPL) stock rose 0.7% after hundreds of people lined up at its flagship store in Beijing on the launch day of the iPhone 17, in a sign that sales of the series are off to a promising start in the world’s second largest economy.
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FedEx (NYSE:FDX) stock rose 5.3% after the delivery giant posted better-than-anticipated quarterly revenue and profit, bolstered by a drive to bring down costs, which helped to counterbalance soft international volumes following the end of a tariff exemption for certain low-value products sent directly to consumers.
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United Parcel Service (NYSE:UPS) stock rose 1.6%, boosted by rival FedEx’s positive results, as well as the news that it has abandoned its bid for Mexican parcel firm Estafetas.
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Lennar (NYSE:LEN) stock fell 3% after the homebuilder posted a 46% drop in fiscal third-quarter profit at the homebuilder, with housing demand dented by inflation fears.
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Scholastic (NASDAQ:SCHL) stock slumped 13% after the publisher posted a loss for the fiscal first quarter, wider than the loss seen in the same period a year prior.
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Intel (NASDAQ:INTC) stock fell 0.5% after Citi downgraded its stance on the tech giant to “sell” from “neutral” in the wake of Nvidia’s investment, saying it expects “minimal improvement for Intel as better graphics won’t make Intel’s CPU better than AMD’s, given the processor is the main performance driver.”
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Tesla (NASDAQ:TSLA) stock rose 0.9% after Baird upgraded the electric carmaker to “outperform” from “neutral”, saying investor focus is shifting toward the company’s role in a coming “physical AI” era.