US Futures Flat After Winning Session

US stock futures were little changed on Wednesday after the major averages extended the strong year-end rally, with the Dow and Nasdaq 100 hitting fresh all-time highs.

In extended trading, FedEx tumbled 10% on disappointing quarterly results.

In regular trading on Tuesday, the Dow rose 0.68%, the S&P 500 climbed 0.59% and the Nasdaq Composite jumped 0.66%, with all 11 S&P sectors ending higher led by energy, communication services and materials.

All three benchmarks are headed for a winning month and year as US stocks surged in the fourth quarter on growing expectations that the Federal Reserve will start cutting interest rates next year.

Hopes that the central bank can engineer a soft landing also aided sentiment.

In the mage-cap space, Tesla (2%) and Meta Platforms (1.7%) posted strong gains on Tuesday, while Nvidia (-0.9%) lagged behind.