Wall Street was on track to open with losses early Friday, potentially jeopardizing markets’ first winning week in more than a month, according to the Associated Press. Futures for the S&P 500 and the Dow Jones Industrial Average were 0.3% lower before the bell. Nasdaq futures fell 0.4%.
FedEx tumbled 8% in premarket trading after the package delivery company said it expects revenue to be flat or slightly down year over year and lowered its per-share profit guidance.
Nike slid 6.5% after it forecast a steep decline in revenue in the current quarter, blaming geopolitical dynamics, new tariffs by the Trump administration, and a less confident consumer.
Johnson & Johnson said Friday that it will invest more than $55 billion within the United States over the next four years, including four new manufacturing plants. Its shares were largely unaffected by the announcement.
Wall Street has been on a weekslong roller-coaster ride, with stock prices gyrating on uncertainty about what President Donald Trump’s trade war will do to the economy. Markets haven’t finished a week with gains since the middle of last month. If things don’t turn around Friday, it will be their fifth straight losing week.
