U.S. stock futures decline after Federal Reserve projections

U.S. stock futures are indicating a drop as investors respond to recent news from the Federal Reserve. The Fed has forecasted two interest rate cuts for this year, which led to a market surge yesterday. Nasdaq futures are down about 0.7%, while Dow Jones and S&P 500 futures are also lower after yesterday's gains. Nvidia's CEO, Jensen Huang, announced plans to invest "several hundred billion" dollars in U.S. production over the next four years. This move comes amid tariff policies that may affect the company's supply chain. In premarket trading, Nvidia shares have dipped by 0.7%. Nike is set to report its quarterly earnings today after the markets close. Investors are watching closely for updates on the company’s recovery plans under new CEO Elliott Hill. Analysts predict Nike’s revenue will fall to $11.02 billion, down from $12.43 billion last year. Boeing shares are also in the spotlight as the company continues to see interest. The stock experienced a significant increase yesterday due to positive comments from CFO Brian West about tariffs and an announcement of new orders from Japan Airlines. However, Boeing shares are slightly down in premarket trading. FedEx will release its quarterly earnings later today. Analysts expect the company to report a 20% increase in adjusted earnings per share, reaching $4.63. Revenue is anticipated to rise slightly to $21.96 billion. Despite these optimistic forecasts, FedEx shares are also lower in premarket trading.