Stock futures are little changed after Dow closes above 42,000 for the first time: Live updates

Published On Sep 19, 2024, 6:04 PM

The stock market experienced a positive session with the S&P 500 and Dow Jones Industrial Average closing at record highs following a recent cut in interest rates by the Federal Reserve. The Dow surpassed 42,000 for the first time and the S&P 500 crossed 5,700. Economic indicators such as lower-than-expected unemployment claims bolstered market confidence. However, FedEx slid 10% in after-hours trading due to a revised earnings forecast, while Nike's stock rose over 9% after announcing leadership changes.

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Stock Forecasts

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Positive

The Fed's rate cut is likely to bolster economic growth and investor sentiment, which may lead to further gains in stocks overall. However, specific stock reactions show mixed signals, as seen with FedEx's downward movement after its guidance cut, indicating volatility within individual stocks despite overarching market trends.

FDXView FDX chart on TradingView

Negative

FedEx's reduced earnings outlook suggests that challenges remain in the logistics sector, which could impact stock performance negatively in the short term. This company's recent downgrade in guidance may lead investors to reconsider their positions, especially in the face of broader market gains.

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