Stock futures are ticking higher this morning after major U.S. indexes hit another record high yesterday on the strength of a tech sector rally; President Donald Trump and Chinese leader Xi Jinping are scheduled to speak today on a TikTok deal; Apple’s (AAPL) new iPhone 17 went on sale globally today; FedEx (FDX) moves higher after the package delivery giant reinstated its full-year outlook; and homebuilder Lennar (LEN) reported a decline in profits amid weakness in the housing market. Here’s what investors need to know today.
1. Stock Futures Tick Higher as Major Indexes Look to Add to Records
Stock futures are slightly higher after markets hit record highs yesterday on a surge in tech stocks. Futures tied to the benchmark S&P 500, the Dow Jones Industrial Average and the tech-heavy Nasdaq were each up about 0.1% recently. The Russell 2000 small-cap index recorded its first record close since November 2021 on Thursday amid optimism about the prospect for further interest-rate cuts by the Federal Reserve. The yield on the 10-year Treasury, which affects borrowing costs on all sorts of loans, is at 4.14% this morning, up from yesterday’s close. Bitcoin (BTCUSD) is down slightly at around $116,500, while gold futures are holding steady at around $3,680 an ounce.
2. Trump, Xi Set to Discuss TikTok Ownership Deal
President Donald Trump is scheduled to speak with Chinese leader Xi Jinping on Friday to negotiate a deal to keep video app TikTok operating in the U.S., according to media reports. The call is expected to come at around 9 a.m. ET. A reported framework for a deal would have Oracle (ORCL) lead a consortium of companies that operate the social media app. Trump this week signed an executive order to push back a deadline for Chinese owner ByteDance to divest its ownership of the company, extending it to mid-December. Oracle shares were up about 1% in premarket trading.
3. Apple iPhone 17 Goes on Sale, Strong Demand Reported
Apple’s (AAPL) iPhone 17 lineup went on sale Friday, reportedly drawing long lines of customers in Europe and Asia amid strong demand for the new products—especially for the Pro models. The iPhone 17 features four models, including the “Air,” its thinnest model to date. Other models feature longer battery life, more scratch-resistant materials, and better cameras than earlier models. Apple stock has lost 5% of its value since the start of the year, making it the only member of the Magnificent 7 group of mega-cap tech companies to lose ground. Investors have been concerned that Apple has been slow to bring artificial intelligence features into its products. Apple shares were up about 1% ahead of the bell on Friday.
4. FedEx Shares Gain After Company Reinstates Full-Year Outlook
FedEx (FDX) shares moved higher as the company reinstated its full-year outlook, after suspending it in June over tariff uncertainty. FedEx said it expects 4% to 6% revenue growth this fiscal year, above analysts’ estimates as compiled by Visible Alpha. FedEx posted adjusted earnings per share of $3.83 on revenue that climbed close to 3% to $22.2 billion in the first quarter, topping analysts’ estimates, as volumes in the U.S. rose. The shipper also said it’s on track to reduce costs by $1 billion in fiscal 2026 and spin off its freight business by next June. FedEx shares, which had lost about a fifth of their value so far in 2025 coming into today’s session, were up about 1% in recent premarket trading, well off their earlier gains.
5. Shares of Homebuilder Lennar Fall as Earnings Drop, Revenue Misses Expectations
Homebuilder Lennar (LEN) reported declining quarterly profits amid continued sluggishness in the U.S. housing market. The company reported adjusted earnings per share of $2.29 for its fiscal third quarter, above analyst estimates tracked by Visible Alpha, but lower than the $4.26 it reported in the year-ago quarter. Lennar’s quarterly revenue of $8.8 billion was more than 6% lower than the year-ago quarter and below the Visible Alpha consensus. Lennar increased new orders by 12%, but it had to rely on incentives to achieve those results, sending the average sales price down to $383,000 and reducing its gross margin by 17.5%. Shares of Lennar were down nearly 3% in premarket trading.
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