U.S. stock futures are pointed lower today, following a significant market surge that took place yesterday in reaction to projections from the Federal Reserve. As the markets open, investors are keenly watching the impacts of previous gains caused by indications of possible interest rate cuts, especially for major technology stocks.
As of March 20, 2025, Nasdaq futures are down by about 0.7%, following a 1.4% increase on March 19. Meanwhile, the Dow Jones Industrial Average and S&P 500 futures are also reflecting downturns after yesterday's gains of 0.9% and 1.1%, respectively. Despite these fluctuations, sentiments across the board are cautiously optimistic as traders seek to determine whether the momentum seen over the past few sessions can be sustained.
In noteworthy corporate developments, Nvidia's CEO Jensen Huang announced that the tech company plans to invest a staggering "several hundred billion" dollars in U.S. manufacturing. This investment underscores Nvidia's commitment to bolstering its supply chain amidst ongoing tariff challenges, particularly those impacting its Asian suppliers. As these plans unfold, Nvidia shares have already seen a slight dip of 0.7% in premarket trading.
Meanwhile, sneaker giant Nike is facing scrutiny with its quarterly results set to be reported after the market closes today. Analysts expect a decline in revenue, forecasting around $11.02 billion for the fiscal third quarter—a drop from the previous year's $12.43 billion. Earnings per share (EPS) are expected to dip as well, projected at $0.28. Nike's stock, down more than a quarter over the past year, is also slightly lower in premarket trading.
Boeing's stock, however, recently showed a significant rise of nearly 7%, marking its largest single-day gain in almost two years. This surge followed optimism expressed by CFO Brian West at an industry conference regarding the lack of near-term impact from tariffs on aluminum and steel. Furthermore, Boeing celebrated a new order from Japan Airlines, which committed to acquiring 17 737-8 aircraft—a move that has further buoyed investor confidence in the company.
As the market approaches the end of trading today, eyes are set on FedEx, which is expected to disclose its fiscal third-quarter results after the bell. Analysts remain optimistic about FedEx's performance, with projections indicating an adjusted EPS increase of 20% compared to the previous year—expected to hit $4.63—alongside a revenue growth to $21.96 billion. Despite premarket trading showing a slight decline in FedEx shares, the average analyst price target remains bullish, suggesting nearly 28% upside from Wednesday's close.
As of this morning, Bitcoin has also felt the downturn, trading lower at around $85,000, while commodity prices for gold and oil are edging down. Furthermore, yields on the 10-year Treasury note are noted as declining to near 4.2%, indicating shifting investor confidence and potential changes in future monetary policy.
Overall, it appears that while today's stock futures reflect a pullback from recent gains, the larger narrative remains one of cautious optimism as traders digest central bank signals and corporate earnings reports. How these factors influence market sentiments and investor behavior in the coming days remains to be seen.
