December S&P 500 futures (ESZ23) are trending up +0.25% this morning as market participants looked ahead to the crucial monthly U.S. nonfarm payrolls report for clues on the Federal Reserve’s interest rate path.
In Thursday’s trading session, Wall Street’s major indices closed in the red. Rivian Automotive Inc (RIVN) tumbled over -22% after the EV maker said it intends to offer $1.5 billion of green convertible senior notes due 2030. Also, beverage stocks retreated, with PepsiCo Inc (PEP) falling more than -5% and Coca-Cola Co (KO) dropping over -4%. In addition, Clorox Co (CLX) plunged more than -5% following the announcement that a cybersecurity attack, which it had revealed in September, would have a significant impact on the company’s Q1 results. On the bullish side, Lamb Weston Holdings Inc (LW) climbed about +8% and was the top percentage gainer on the benchmark S&P 500 after the frozen potato giant reported upbeat Q1 results and raised its FY24 guidance.
