U.S. Shares Open Greater as Buyers Look to Finish Week on an Upbeat Word By Investing.com
By Liz Moyer
Investing.com — US stocks opened higher on Friday as investors tried to break a three-week losing streak and end on a positive note.
At 9:39 AM ET, the was up 253 points or 0.8%, while the was up 1% and the was up 1.5%.
Investors have been concerned about a recession ahead as several Wall Street economists raise the odds of one happening sometime in the next 12 months. With the housing market showing signs of cooling, data for May is expected out at 10 AM ET. And is also expected out then.
Shares of auto dealers CarMax Inc (NYSE:) ticked up slightly after it beat earnings expectations despite a challenging environment.
FedEx Corporation (NYSE:) shares jumped 7% after earnings beat estimates on higher rates and fuel surcharges, which overcame declining shipping volume. The logistics giant released an optimistic forecast for fiscal 2023.
Oil rebounded. was up 1.3% to $105 a barrel, while crude was up 1.2% to $111 a barrel. fell 0.1% to $1,827.