Stock Futures Inch Higher
US stock futures showed modest gains on Friday as traders anticipated the Federal Reserve’s upcoming policy meeting. By 03:34 ET (07:34 GMT), Dow futures rose by 61 points (0.2%), S&P 500 futures increased by 8 points (0.2%), and Nasdaq 100 futures were up by 17 points (0.1%).
On Thursday, the S&P 500 climbed 41 points (0.8%), the Nasdaq Composite gained 174 points (1.0%), and the Dow Jones Industrial Average advanced by 235 points (0.6%).
The market was buoyed by data suggesting a modest rise in producer prices, which reinforced expectations for a 25-basis point rate cut by the Fed. Uncertainty remains, with the CME Group’s FedWatch Tool indicating a 57% chance of a quarter-point cut and a 43% chance of a half-point reduction at the Fed’s meeting on September 17-18.
Boeing Workers Vote to Strike
Over 30,000 Boeing workers in the US Pacific Northwest have voted to go on strike, starting from midnight Pacific Time (0700 GMT) Friday. The strike follows dissatisfaction with the company’s pay and benefits offers.
This labor action marks Boeing’s first major strike since 2008, which cost the company approximately $1.3 billion in lost production and increased wages. Boeing has pledged to return to negotiations but faces additional challenges with its safety record, including recent issues with the 737 MAX and the Starliner spacecraft.
Oracle Ups 2026 Revenue Guidance
Oracle saw its shares rise by over 6% in extended hours trading after boosting its 2026 revenue forecast to $66 billion, surpassing analysts’ expectations of $64.5 billion.
The company also projected $104 billion in revenue by 2029 and annual earnings growth of 20%. The positive outlook is driven by strong demand for cloud computing amid the growth of artificial intelligence, despite competition from major tech players like Google, Microsoft, and Amazon.
Adobe Guidance Disappoints
Adobe’s shares fell in after-hours trading following its fourth-quarter revenue guidance, which missed analysts’ expectations. The company anticipates revenues between $5.50 billion and $5.55 billion, below the forecast of $5.61 billion.
Adobe also projected quarterly profit of $4.63 to $4.68 per share, slightly below estimates. Despite introducing AI-powered features, subdued spending from customers cautious about economic conditions has impacted the company.
Oil Prices on Track for Positive Week
Oil prices rose in European trade on Friday, driven by concerns over supply disruptions from Hurricane Francine. This rebound follows a series of weekly declines.
Brent crude futures for November rose 0.5% to $72.34 per barrel, and West Texas Intermediate (WTI) crude futures increased by 0.5% to $68.50 per barrel. If these gains hold, it would end a streak of weekly declines for both contracts.
Overall, markets are adjusting to a mix of economic data, labor disputes, and corporate earnings reports, with significant attention on the Fed’s upcoming decision and its potential impacts on financial markets.
