Wall Street was headed toward its third straight day of records before Thursday’s opening bell, the Associated Press reports, with futures for the S&P 500 up 0.3% and futures for the Dow Jones Industrial Average and Nasdaq each rising 0.2%.
Stocks have reached records in large part because Wall Street is expecting the economy to pull off a careful balancing act — slowing enough to convince the Federal Reserve to cut interest rates, but not so much that it causes a recession, all while inflation remains under control.
Meanwhile, shares of residential home flipper Opendoor climbed 36% Thursday after the company named Kaz Nejatian, the COO of Shopify, as its CEO.
Shares of FedEx fell 1.3%, while UPS slipped 2.1% after Bank of America downgraded both package delivery companies’ stock.
