5 Things to Know Before the Stock Market Opens

U.S. stock futures point lower to end the week; FedEx (FDX) shares are tumbling in premarket trading after the shipping company lowers its sales outlook; Nike (NKE) shares are dropping as the sneaker giant warns of weakening sales; Micron Technology (MU) shares are falling despite the tech firm’s better-than-expected results; and global air traffic is disrupted as London’s Heathrow Airport shuts for the day after a nearby fire causes a power outage. Here’s what investors need to know today.

1. US Stock Futures Point Lower to End Week

U.S. stock futures are pointing lower to end the week. S&P 500 and Dow Jones Industrial Average futures are 0.3% lower after the indexes posted modest declines yesterday, though both are on pace to close higher for the week. Nasdaq futures are down 0.4% and the index is lower by a similar percentage for the week through Thursday as it looks to snap a four-week skid. Bitcoin (BTCUSD) is moving lower to trade at around $84,000, while yields on the 10-year Treasury note are slipping to just over 4.2%. Oil and gold futures are declining.

2. FedEx Stock Dives on Disappointing Q3 Profit, Revenue Outlook

FedEx (FDX) shares are tumbling 8% in premarket trading after the shipping giant reported quarterly profit that missed expectations while also lowering its full-year outlook. The company said it expects full-year revenue to come in slightly lower to flat year-over-year, worse than its prior forecast of “approximately flat.” FedEx also lowered its profit outlook for a third straight quarter. For its fiscal third quarter, FedEx’s adjusted earnings per share (EPS) of $4.51 came up short of Visible Alpha estimates, although its revenue of $22.2 billion topped them.

3. Nike Stock Drops on Sales Warning

Nike (NKE) shares are sinking 6% in premarket trading after the sneaker giant warned that sales could weaken under the company’s turnaround plan, with new tariffs adding to uncertainty. Nike CFO Matt Friend told investors that its current-quarter sales are expected to drop by a percentage in the low end of the “mid-teens range,” according to an earnings call transcript provided by AlphaSense, while Visible Alpha estimates were for a 12% decline. Nike shares have declined about 30% over the past 12 months. 

4. Micron Technology Stock Dips Despite Better-Than-Expected Results, Outlook

Micron Technology (MU) shares are 3.5% lower in premarket trading even though the tech firm reported better-than-expected results and issued optimistic guidance. The chipmaker’s fiscal second-quarter adjusted EPS of $1.56 and revenue of $8.05 billion topped Visible Alpha consensus, as data center sales tripled year-over-year, driven by strong demand for artificial intelligence. Micron’s current-quarter adjusted EPS and revenue outlooks also were better than estimated.

5. London’s Heathrow Airport Closes as Fire Causes Power Outage

London’s Heathrow Airport, one of the world’s busiest, closed for the day Friday following a fire at a nearby substation that caused a power outage. The airport operator said that the hub would remain closed until 11:59 p.m. local time (07:59 p.m. ET) on Friday. The closure has caused widespread disruption, with more than 1,350 flights canceled today, according to FlightRadar24.