5 Things to Know Before the Stock Market Opens

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.

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.

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.

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.