September S&P 500 futures (ESU23) are trending up +0.39% this morning after three major U.S. benchmark indices finished the regular session higher after a report showed U.S. consumer prices slowed further in June and boosted hopes that the Federal Reserve was nearing the end of its rate-hiking campaign, while investors also awaited crucial U.S. PPI data.
In Wednesday’s trading session, the benchmark S&P 500 rose to a 14-1/2 month high, the blue-chip Dow posted a 3-1/2 week high, and the tech-heavy Nasdaq 100 notched a 17-month high. Domino’s Pizza Inc (DPZ) surged about +11% and was the top percentage gainer on the S&P 500 after the pizza chain signed a new global agreement with Uber (UBER). Also, big tech-related companies gained ground as Treasury yields fell sharply, with Alphabet Inc (GOOGL), Microsoft Corporation (MSFT), and Amazon.com Inc (AMZN) rising more than +1%. In addition, NVIDIA Corporation (NVDA) climbed over +3% following a report from the Financial Times indicating that chip designer Arm is engaged in discussions to bring the megacap company in as an anchor investor ahead of its planned listing.
