United States stock futures edged lower on Tuesday night (Wednesday AEST), following a robust session that saw all three major benchmarks post gains.
By 9:20 am AEST (11:20 pm GMT), futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were each down 0.1%.
In extended trading, FedEx fell 4.7% despite reporting better-than-expected fourth-quarter earnings, as investors reacted negatively to weaker profit guidance.
AeroVironment added 1.4% after exceeding expectations on both earnings and revenue for its fiscal fourth quarter.
Worthington Enterprises surged 10.6% after delivering stronger-than-expected results. The company posted fourth-quarter earnings per share (EPS) of $1.06, well ahead of $0.83 expected, while revenue came in at $317.9 million versus $301.4 million expected.
Tuesday’s rally in equities was underpinned by a continued slide in oil prices, driven by optimism that the ceasefire between Israel and Iran could hold.
The S&P 500 rose 1.1%, the Nasdaq Composite climbed 1.4%, and the Dow added 1.2%.
On the economic front, the Conference Board consumer confidence index fell 5.4 points to 93.0 in June, marking the second-lowest level this year and the weakest reading since January 2021.
Looking ahead, investors will monitor data on new home sales set to be released Wednesday morning. Market participants will also tune in as Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee.
Earnings from General Mills, Paychex, and Micron are also on the docket and will be closely watched for insights into consumer and corporate spending trends.
