Dow Futures Trade Lower As FedEx Withdraws Guidance By


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By Oliver Gray – U.S. stock futures were trading lower during Thursday’s evening deals, after major benchmark averages resumed declines during the regular session amid growing fears of a global recession while traders absorbed an ugly earnings warning from FedEx Corporation (NYSE:).

By 7:15pm ET (11:15pm GMT) were down 0.5% while and fell 0.7% apiece.

In extended deals, FedEx Corp. (NYSE:) shed 15.9% as the company withdrew earnings guidance for the year, while CEO Raj Subramaniam, noted that he thinks the world economy is headed for a recession.

United Parcel Service, Inc. (NYSE:) and, Inc. (NASDAQ:) fell 5.7% and 1.8% respectively following the news.

Bowlero Corp (NYSE:) lifted 6.3% after Q4 EPS of $0.03 versus $0.05 expected, while revenue came in at $267.72 million versus $195.3 million expected.

Ahead in the session, investors will be looking ahead to fresh data.

During Thursday’s regular session the dropped 173.3 points or 0.6% to 30,961.8, posting its lowest close since July 14. The fell 44.7 points or 1.1% to 3,901.4 and the lost 167.3 points or 1.4% to 11,552.4.

On the bond markets, rates were at 3.449%.

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