December S&P 500 futures (ESZ23) are trending up +0.23% this morning as investors digested weaker-than-expected business activity readings from China and the Bank of Japan’s monetary policy decision, with the focus shifting to the Federal Reserve’s monetary policy committee meeting and rate decision.
In Monday’s trading session, Wall Street’s major averages closed in the green. Western Digital Corporation (WDC) climbed over +7% after the memory chipmaker said it would separate its hard drive and flash memory businesses into two independent public companies. Also, megacap growth stocks gained ground, with Alphabet Inc (GOOGL), Microsoft Corporation (MSFT), and Meta Platforms Inc (META) rising about +2%. In addition, McDonald’s Corporation (MCD) rose over +1% after the fast food giant reported upbeat Q3 results. On the bearish side, ON Semiconductor Corporation (ON) slumped more than -21% and was the top percentage loser on the S&P 500 after issuing weaker-than-expected Q4 guidance.
