U.S. equity index futures held steady after yesterday’s rally that followed reports of a cease fire between Iran but also Israel. The Nasdaq Composite closed at an all time high. FedEx shares surged after the company reported fourth quarter profit that exceeded analyst projections and raised its revenue forecast for the new fiscal year.
Crude-oil futures edged higher. Bitcoin traded near $67,000. FedEx posted adjusted earnings of $5.41 per share, above the $5.34 consensus. Revenue rose to $22.1 billion – beating the $21.9 billion estimate. Management guided for fiscal 2025 adjusted earnings of $20.00 to $22.00 per share, below the prior $20.80 to $22.80 range. The stock has declined 19.8 percent year-to-date.
Micron Technology will release quarterly results after the close. Analysts forecast earnings of 45 cents per share on revenue of $6.67 billion. The shares have advanced 52 percent in 2025.
Tesla registrations in the European Union dropped to 0.9 percent of the total market in May, down from 1.6 percent a year earlier. The shares have fallen 45 percent in 2025. Premarket trading indicated a 0.8 percent gain.
BlackBerry reported adjusted earnings of 2 cents per share on revenue of $121.7 million – surpassing estimates of a 1-cent loss and $119.4 million in sales. The company raised its fiscal 2026 revenue guidance to $508 million to $538 million from $504 million to $534 million. The shares have climbed 15 percent this year.