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5 Things to Know Before the Stock Market Opens

News of the day for Dec. 19, 2024

The Nike corporate logo hangs above their store at Fashion Valley in San Diego, California

Kevin Carter / Getty Images

U.S. stock futures are pointing higher after a market selloff on the Federal Reserve's interest-rate outlook; Micron Technology (MU) stock is sinking after the Nvidia (NVDA) partner offers weaker-than-expected guidance; bitcoin (BTCUSD) resumes trading over $100,000 and cryptocurrency stocks move higher after yesterday's selloff; Nike (NKE) is scheduled to issue its first earnings report under new CEO Elliott Hill after markets close; and FedEx (FDX) is expected💎 to show income growth when it also reports after the bell. Here's what investors need to know today.

1. US Stock Futures Point H𒆙igher After Market Selloff

U.S. stock futures are pointing higher as markets show signs of rebounding 澳洲幸运5开奖号码历史查询:after plunging on the Fed's 澳洲幸运5开奖号码历史查询:interest-rate projections. 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average futures are up 0.5% as the blue-chip index looks to break a 10-session losing streak, including an 1,100-point drop yesterday. 澳洲幸运5开奖号码历史查询:S&P 500 and Nasdaq futures are higher by about 0.7%. Yields on the 10-year Treasury note are higher at more than 4.5%, gold futures are down almost 1%, and crude oil futures are ticking lower. Investors will be 澳洲幸运5开奖号码历史查询:watching for data on weekly jobless claims, second revisions of third-quarter U.S. 🃏gross domestic product, and existing home sales for November.

2. Micron Stock Tumbles on Weak Quarꦆterly Outlook

Micron Technology (MU) stock 澳洲幸运5开奖号码历史查询:is sinking 12% in premarket trading after the memory chip maker and Nvidia (NVDA) partner issued a 澳洲幸运5开奖号码历﷽史查询:weaker-than-expected current-quarter outlook. Micron projected fiscal second-quarter revenue of $7.9 billion, give or take $200 million, below the analyst consensus of $8.93 billion compil♓ed by Visible Alpha. While the company said it sees a return to growth in the second half of fiscal 2025, it anticipates consumer-oriented markets to remain weaker in the near term.

3. Bitcoin Climbs Back Over $100,00ܫ0, Crypto Stocks Rebound📖 After Selloff

After falling below the 澳洲幸运5开奖号码历史查询:six-figure price level following the Fed's announcement, bitcoin (BTCUSD) is trading above $102,000 Thursday morning. 澳洲幸运5开奖号码历史查询:Bitcoin buyer MicroStrategy (MSTR) is up about 5% in premarket trading after sinking nearly 10% in the prior session, while crypto exchange Coinbase Global (COIN) is up 4% after a similar drop yesterday. Bitcoin miners Riot Platforms (RIOT) and MARA Holdings (MARA) are up about 4% after logging declines of more than 14﷽% and 12%, respectively.

4. Nike Slated to Issue First Earnings Report Under N🦋ew CEO

Shares of shoemaker Nike (NKE) are 0.6% higher in premarket trading ahead of the post-close 澳洲💝𝔍幸运5开奖号码历史查询:release of its second-quarter results. Analysts tracked by Visible Alpha project that Nike will report $12.12 billion in quarterly revenue, a 9% year-over-year decline, and post 澳洲幸运5开奖号码历史查询:net income of $968 million, down from $1.6 billion. The apparel maker has 澳洲幸运5开奖号码历史查询:faced growing competition from smaller brands both domestically and in other vital markets like China. The report will be the first quarterly results 澳洲幸运5开奖号码历史查询:since its new CEO, company veteran Elliott Hill, took over i🌄n Octobeꦍr.

5. FedEx Expected to Report Net Income Growth

FedEx (FDX) shares are edging higher in premarket trading as investors anticipate that the 澳ꦗ洲幸♏运5开奖号码历史查询:shipping giant will report profit growth when it releases its second-quarter report after markets close. The company is projected to post slightly lower revenue of $22.14 billion but a 3% year-over-year rise in net income to $925.1 million, according to analysts polled by Visible Alpha. FedEx has said it plans to complete a review of options for its freight business by the end of the calendar year, and analysts have said it may "unlock value" for the business to be spun off.

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