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Home / Business / Dow Jones Futures: FedEx gains, Micron gains bad news for these 6 stocks, stock market

Dow Jones Futures: FedEx gains, Micron gains bad news for these 6 stocks, stock market



Dow Jones futures were little changed on Tuesday, along with S & P 500 futures and Nasdaq futures, despite the grim prospects of Bellwether's FedEx (FDX) and Micron Technology (MU) close. In the stock market on Tuesday, the large averages made slight gains after the strong sell-off on Monday revived the stock market correction. The FedEx earnings forecast hit the FedEx stock, as well as United Parcel Service (UPS) and Amazon.com (AMZN). Micron's earnings forecast hurt Micron's stock and chip giants Applied Materials (AMAT) and Lam Research (LRCX).




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Dow Jones Futures Today

Dow Jones futures were slightly above market value. The futures of S & P 500 were flat. The Nasdaq 100 futures fell a fraction. The FedEx share and the Micron share are known for their sectors and for the wider world economy.

Keep in mind that overnight action in Dow futures, FedEx stock and elsewhere is not necessarily translated into actual trading in the next regular session.

Stock Market Correction

Stock market correction is active again after the Dow Jones, S & P 500 and Nasdaq Composite fell below the February lows on Monday due to recent lows and the S & P 500 index. Average averages increased slightly in stock market trading on Tuesday, but the action was not particularly encouraging. A solid intraday rally temporarily turned into moderate losses, while crude oil futures plummeted before the large averages edged up in the end. Anyway, Tuesday is the first day of a stock market attempt on the stock market. Wait until one or more of the major averages has a follow-up day to establish a new uptrend. Even then, investors should be careful and seek further confirmation. The stock market held follow-through days in early November and early December to almost immediately fall.

The two-day Fed meeting ends on Wednesday and offers a potential stock market catalyst. Markets expect a rate hike by the Fed, but that's not a safe bet. Policy makers are also expected to signal fewer Fed rate hikes in 2019.

FedEx earnings forecast hit FedEx, UPS, Amazon Stock

FedEx earnings reached $ 4.03 per share, an increase of 27% over the previous year. Zacks Investment Research estimates that these estimates slightly exceeded other consensus forecasts. Revenues exceeded the views. However, FedEx's earnings forecast was well below its previous targets, warning of weakness overseas, citing China and "especially in Europe".

FedEx shares lost 6% in late trading. Share prices on the Tuesday stock market rose 1.55% to 185.01, but declined 19% in December as concerns about slowing economic growth and growing competition from key customer Amazon began.

The US stock lost 3.5%. The Amazon share fell 0.4%.

Micron earnings report harms Micron stock, chip equipment maker

Micron profits narrowly outperformed the first quarter of the fiscal year, but lacked revenue. The memory chip sees weakness in DRAM and NAND. Micron provided a weak second-quarter earnings and revenue forecast and reduced production and investment plans for 2019.

Micron's stock recently lost 9.1%. Equities rose 0.7% on Tuesday, but hit a 52-week low on Monday.

Micron's investment plans are not good news for chip equipment vendors, who are heavily represented in the storage market. The inventory of Applied Materials fell late by 2.6%. The share of Lam Research lost 3.9%.

The Micron earnings report could undermine a barely perceptible rally in the chip sector. In contrast to the Dow Jones or Nasdaq, the long-ago Philly Semiconductor Index has not fallen below its lows in October. Instead, the Philly Sox have risen slightly, with higher highs and higher lows, amid volatile volatility.

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