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Dow futures fall as FedEx withdraws instructions

Aria Thomas

Sep 16, 2022 11:00

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Futures for U.S. shares were trading lower on Thursday evening, after key benchmark averages continued down during the regular session due to mounting fears of a global recession and as markets absorbed FedEx Corporation's dismal earnings warning (NYSE:FDX).


At approximately 7:15pm ET (11:15pm GMT), Dow Jones Futures were down 0.5%, while S&P 500 Futures and Nasdaq 100 Futures each down 0.7%.


In extended trading, shares of FedEx Corporation (NYSE:FDX) dropped 15.9% after the company revised its profitability forecast for the year and its CEO anticipated a global recession.


United Parcel Service, Inc. (NYSE:UPS) and Amazon.com, Inc. (NASDAQ:AMZN) shares fell 5.7% and 1.8%, respectively, on the announcement.


Bowlero Corp (NYSE:BOWL) increased 6.3% after reporting Q4 EPS of $0.03 below the average estimate of $0.05 and revenue of $267.72 million compared to the consensus estimate of $195.3.


Ahead in the session, investors will anticipate new consumer sentiment data.


On Thursday, the Dow Jones Industrial Average dropped 173.3 points, or 0.6%, to 30,961.8, its lowest finish since July 14. The S&P 500 fell 44.7 points, or 1.1%, to 3,901.4, and the NASDAQ Composite down 167.3 points, or 1.4%, to 11,552.4.


The 10-Year U.S. bond market interest rate was 3.449%.