Stock Market Live September 19: President Xi Takes President Trump’s Call, S&P 500 (VOO) Rises
Key Points
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Presidents Trump and Xi are discussing the fate of TikTok by phone this morning, but no final decision has been made.
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FedEx beat earnings last night, helping to boost the Voo this morning.
Live Updates
Friday Wrap-up
Citi Disses Intel
After its amazing run higher yesterday on news of the $5 billion investment from Nvidia (Nasdaq: NVDA | NVDA Price Prediction), Intel (Nasdaq: INTC) stock got taken down a peg today when Citigroup downgraded the stock to sell.
Citi warns that Intel’s foundry business is floundering, and no investment from Nvidia will save it. The banker raised its Intel price target to $29 as the shares have risen, but seeing as Intel stock costs $30 now, that means the stock is a sell.
Intel stock, which is an S&P 500 component company, is down 2.2%.
UPS Moves Lower
BMO Capital analyst Fadi Chamoun downgraded UPS (NYSE: UPS) stock to market perform with a $96 price target today.
“A recovery in demand remains elusive, particularly in the important B2B segment. Macro challenges have been further heightened by shifting U.S. trade policies, including the ending of de minimis exemptions.” Meanwhile, UPS’s cost cutting efforts are proceeding slower than hoped.
UPS stock is down 0.4%, and the Voo’s gain has been cut to 0.1%.
Tesla Hits the Gas (So to Speak)
Baird analyst Ben Kallo upgraded S&P 500 component company Tesla (Nasdaq: TSLA) to outperform with a $548 price target this morning.
“A series of less than stellar quarters” has failed to shake Tesla stock, argues Kallo, suggesting investors’ “focus has increasingly shifted to the future for TSLA. The recently proposed pay package is built on lofty targets for both product rollout and market cap.” And if Tesla hits those targets, Elon Musk may be worth every penny of his trillion-dollar pay package.
Tesla stock is up about 1.7% in early trading, while the Voo’s gain has slipped to 0.2%.
This article will be updated throughout the day, so check back often for more daily updates.
Chinese President Xi and U.S. President Trump aren’t talking face to face yet, but they are talking person to person on the phone. At this very moment, reports CNBC, a call is in progress to discuss whether China will permit a controlling interest in TikTok’s U.S. operations to be sold to a consortium of U.S. companies led by Oracle (NYSE: ORCL), and whether TikTok will be permitted to continue operating here — or forced to shut down.
(The latter is highly unlikely. President Trump has already postponed implementation of a law to shut down TikTok more than once, most recently pushing the deadline for a solution out to December 16).
In other news… there isn’t a whole lot of macroeconomic news today. The Vanguard S&P 500 ETF (NYSEMKT: VOO) closed at an all-time high Thursday after the Federal Open Market Committee cut its target interest rate as low as 3.75% Wednesday. The Voo gained 0.5% yesterday, and is up another 0.3% premarket today.
Earnings
Finally, two big S&P 500 component companies reported earnings last night. On the minus side, Lennar Corp (NYSE: LEN) missed earnings by a dime, reporting a $2 per share profit for its fiscal Q3 2025. Revenue likewise fell short of expectations at $8.8 billion; Wall Street analysts had predicted closer to $9 billion.
Lennar stock is down 3.5% premarket.
That’s the bad news. The better news, and the news that’s helping lift the Voo today, comes from FedEx (NYSE: FDX), which last night announced earnings 15 cents ahead of expectations. FedEx earned $3.83 per share in its fiscal Q1 2026, and its revenue of $22.2 billion easily topped forecasts for only $21.7 billion.
Granted, FedEx’s guidance was a bit underwhelming. Management’s forecast for a full-year adjusted profit between $17.20 and $19 per share — taken at the midpoint — falls short of Wall Street forecasts for $18.25. On the plus side, revenue is expected to grow 4% to 6% this year, and FedEx stock is up premarket — about 1.5%.
Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
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