US stock futures varied as investors prepared for the Federal Reserve's first policy meeting under Chair Kevin Warsh, which is expected to leave interest rates unchanged but will be scrutinized for commentary on inflation, AI productivity, and balance sheet reduction.
La-Z-Boy (LZB) shares surged by 19.6% to $41.94 in premarket trading after reporting fourth-quarter EPS of $1.26, significantly beating the analyst estimate of $0.82, and revenue of $570.34 million, which surpassed the $569.23 million estimate. SpaceX (SPCX) continued its upward trend, rising over 10% premarket and strengthening for the third consecutive day, with its market capitalization nearing or potentially exceeding Amazon (AMZN).
Nvidia (NVDA) announced an increase in its corporate bond offering from an initial $20 billion to $25 billion, driven by strong demand that saw the order book peak at $85 billion, reflecting high market confidence in the AI industry cycle. Memory chip stocks, including Micron Technology (MU), also saw gains due to sustained demand for AI servers, high-bandwidth memory, and data center expansion.
