Stock Market Update

[BRIEFING.COM] The S&P 500 (-1.5%) and Nasdaq Composite (-2.2%) are back at session lows as the market enters the final hour of the session, while the DJIA (-0.1%) remains in close proximity to its baseline.

FedEx (FDX 320.44, -8.34, -2.54%) reports Q4 (May) results today after the close, with expectations elevated after a strong run in the shares and a sharp improvement in operating execution. This release matters more than usual because it is the first report since the June 1 FedEx Freight (FDXF 169.39, +8.45, +5.25%) separation, leaving investors focused on whether the streamlined parcel business can sustain pricing, volume, and margin momentum while setting a clean framework for FY27.

Sperately, FedEx Freight trades sharply higher after being initiated with a Buy at Jefferies.