Stock futures were up modestly Friday following the S&P 500 ‘s 1.6% drop on Thursday, its worst day since March, as investors reacted to signals from the Federal Reserve that it could keep interest rates higher for longer.Ford rose 0.3%, General Motors gained 0.7%, and Stellantis fell 0.5% with the United Auto Workers union threatening to expand its strike against the Big Three automakers on Friday if substantial progress isn’t made in negotiations.
American depositary receipts of Alibaba were rising 4.5%, and JD.com gained 3.5%. A Bloomberg report said China was considering relaxing rules that cap foreign ownership in domestic publicly traded companies. Oracle reiterated Thursday that it will reach $65 billion in revenue by fiscal 2026. The company’s executive vice president for corporate operations, Doug Kehring, also repeated Oracle ‘s forecast for 45% operating margins and at least 10% annual earnings per share growth by fiscal 2026. “We remain confident we are on track to meet those targets,” he said. Oracle shares rose 0.6% in premarket trading.
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