Stock Market Update

[BRIEFING.COM] The major averages remain mostly lower as the market enters the final hour of the session.

Though today's action has been more driven by broader market swings, there are a few notable stock-specific moves in the mix.

FedEx Freight (FDXF 188.56, +9.80, +5.48%) moves higher again today and is now about 15% above its $164 opening price from when it began regular-way trading on the NYSE on June 1. The move reflects growing investor interest in FDXF as a newly independent pure-play less-than-truckload carrier, with the spin-off creating a cleaner way to own one of North America's largest LTL platforms. Index-related demand is also likely helping, as FDXF has been added to major benchmarks, including the S&P 500 and the Dow Jones Transportation Average.

Elsewhere, DraftKings (DKNG 27.28, +2.50, +10.08%) soars after announcing that May 2026 annualized consumer volume in its Predictions offering increased 24% month-over-month to $1.3 billion, while annualized total volume traded jumped 34% month-over-month to $3.1 billion, in each case compared with April. The update is being viewed as an important proof point that Predictions is scaling quickly after DKNG integrated the product into its flagship app, where management previously said customer acquisition costs declined by more than 80% in April.