U.S. stock index futures were flat on Wednesday as investors paused after Wall Street's record-setting spree, while FedEx eyed its worst day since ...
REUTERS: U.S. stock index futures were flat on Wednesday as investors paused after Wall Street's record-setting spree, while FedEx eyed its worst day since September after cutting its annual profit forecast for the second time this year.
U.S. parcel delivery company fell 8per cent in premarket trading after it lowered its fiscal 2020 profit forecast on heavy expenses, slowing global trade and the fallout from its breakup with Amazon.com Inc .The bellwether stock was an outlier in an otherwise flat U.S. trading before the opening bell. A Wall Street rally spurred by hopes of an initial U.S.-China trade deal last week had propelled the benchmark S&P 500 to record highs for four straight sessions.
With little chance of another major update on trade progress between the world's top two economies before the end of the year, analysts say the market will likely stay around present levels.At 7:20 a.m. ET, Dow e-minis were up only 6 points, or 0.02per cent. S&P 500 e-minis remained unchanged and Nasdaq 100 e-minis were up 1.25 points, or 0.01per cent.In results-driven moves, General Mills Inc rose 2.8per cent after the Cheerios maker beat quarterly profit estimates.
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