United States stock futures ticked higher on Thursday night (Friday AEST), extending Wall Street’s record close after the Federal Reserve’s interest rate cut fuelled risk appetite.
By 8:30 am AEST (10:30 pm GMT), Dow and S&P 500 futures were each up 0.2%, while Nasdaq futures edged 0.1% higher.
In extended trading, FedEx surged 5.5% after reporting stronger-than-expected quarterly results. The shipping giant posted first-quarter earnings per share of $3.83, topping analyst forecasts of $3.61. Revenue reached $22.2 billion, above expectations of $21.65 billion.
In contrast, Scholastic Corp tumbled 10.2% after disappointing investors with a wider-than-expected quarterly loss. The company reported a first-quarter loss of $2.52 per share, compared with expectations for a $2.44 loss, while revenue fell short at $225.6 million versus $238.91 million expected.
Thursday’s regular session saw all major U.S. benchmarks notch fresh records. The Dow Jones Industrial Average gained 0.3%, the S&P 500 added 0.5%, and the Nasdaq Composite climbed 0.9%.
The small-cap Russell 2000 also logged its first all-time closing high since late 2021, surging nearly 3% so far this week.
For the week to date, the Dow and S&P 500 are both on track to close about 0.7% higher, while the Nasdaq Composite has advanced 1.5%. The Russell 2000 leads gains with an almost 3% rise.
