December Nasdaq 100 E-Mini futures (NQZ23) are trending up +0.44% this morning as U.S. Treasury yields slipped from decade highs, while investors braced for a new round of economic data as well as an earnings report from chip maker Micron Technology.
In Tuesday’s trading session, the benchmark S&P 500, the blue-chip Dow, and the tech-heavy Nasdaq 100 dropped to 3-1/2 month lows. Cintas Corporation (CTAS) plunged over -5% and was the top percentage loser on the S&P 500 after the provider of workplace uniforms posted Q1 revenue that was in line with analysts’ estimates. Also, mega-cap growth stocks retreated, with Apple Inc (AAPL) falling more than -2% and Alphabet Inc (GOOGL) dropping over -1%. In addition, Amazon.com Inc (AMZN) slumped about -4% after the U.S. Federal Trade Commission filed its long-anticipated antitrust lawsuit against the online retailer. On the bullish side, DraftKings Inc (DKNG) rose over +2% after JPMorgan upgraded the stock to Overweight from Neutral.
