Latest news with #FederalReserve-induced
Yahoo
21-03-2025
- Business
- Yahoo
Stock market opens lower but headed for weekly gains. FedEx and Nike fall on weak outlooks
U.S. stocks opened lower after failing on Thursday to muster enough strength to extend the Federal Reserve-induced rally. At 9:45 a.m. ET, the broad S&P 500 lost 0.78%, or 44.03 points, to 5,618.86; the blue-chip Dow fell 0.85%., or 356.73 points, to 41,596.59; and the tech-heavy Nasdaq fell 0.84%, or 149.08 points, to 17,542.55. The benchmark 10-year yield dipped to 4.212%. Stocks rallied Wednesday afternoon after the Fed left interest rates unchanged, as expected, but still predicted two more rate cuts this year despite tariffs that could boost inflation. However, the rally ran out of steam and investors scattered to the sidelines, allowing stocks to drift lower. This morning, earnings warnings from corporate giants like Nike and FedEx rattled markets. Even with Thursday's dip, the S&P 500 is on pace for a weekly gain after dropping for four consecutive weeks. The Dow is on track for its best weekly gain since January, but the Nasdaq remains in the red. The Nasdaq's on track for its fifth straight losing week and its longest stretch of weekly losses since May 2022. Nike topped analysts' estimates for earnings and revenue in the company's fiscal third-quarter, but sales in the final three months of its year are expected to be much worse than expectations. Shares of the sportswear giant plunged 8.71%. Micron beat analysts' forecasts in the second quarter and expects to do so again in the third quarter. The tech company's stock slid 7.81%. FedEx earnings missed analysts' expectations in the delivery company's fiscal third-quarter. The delivery company also lowered its earnings outlook, citing economic uncertainty. Shares slumped 10.81%. Tesla shares gained 2.56% after chief executive Elon Musk told the company's employees not to sell the stock despite its shares shedding half their value this year. Metaplanet, a Tokyo-listed investment firm that operates as a Bitcoin treasury company, named Eric Trump, second son of President Trump, to its Strategic Board of Advisors. Still, bitcoin was last down 0.73% at $83,645.55. This story was updated with new information. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: Stock market dips at open as eyes return to economy. FedEx, Nike warn Sign in to access your portfolio
USA Today
21-03-2025
- Business
- USA Today
US stock futures lower as Fed-induced rally runs out of steam
US stock futures lower as Fed-induced rally runs out of steam Show Caption Hide Caption Recession fears persist amid inflation and trade wars President Donald Trump did not rule out the possibility of a recession in a recent Fox News interview, amid his administration's continuing trade war. U.S. stock futures point to a lower opening after failing on Thursday to muster enough strength to extend the Federal Reserve-induced rally. Futures tied to the broad S&P 500 dropped -0.23%. Blue-chip Dow futures fell -0.24%. Tech-heavy Nasdaq futures slipped 0.29%. Stocks rallied Wednesday afternoon after the Fed left interest rates unchanged, as expected, but still predicted two more rate cuts this year despite tariffs that could boost inflation. However, the rally ran out of steam and investors scattered to the sidelines, allowing stocks to drift lower. Even with Thursday's dip, the S&P 500 is on pace for a weekly gain after dropping for four consecutive weeks. The Dow is on track for its best weekly gain since January, but the Nasdaq remains in the red. The Nasdaq's on track for its fifth straight losing week and its longest stretch of weekly losses since May 2022. Corporate news Nike topped analysts' estimates for earnings and revenue in the company's fiscal third-quarter. Micron beat analysts' forecasts in the second quarter and expects to do so again in the third quarter. FedEx earnings missed analysts' expectations in the delivery company's fiscal third-quarter. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
