June S&P 500 futures (ESM23) are trending up +0.34% this morning after three major U.S. benchmark indices ended the regular session higher as market participants digested the latest batch of corporate earnings while seeking more clarity on the Federal Reserve’s monetary policy stance.
In Monday’s trading session, Wall Street’s major averages posted modest gains, helped in part by financial and industrial stocks, with Charles Schwab Corp (SCHW) climbing more than +3% after the financial services provider topped analysts’ expectations on Q1 profit. In addition, Prometheus Biosciences Inc (RXDX) surged over +69% after Merck agreed to acquire the company in a $10.8B deal. At the same time, State Street (STT) plunged more than -9% and was the top percentage loser on the S&P 500 after the custodian bank reported weaker-than-expected Q1 results. Also, Alphabet Inc (GOOGL) fell over -2% following a report that Microsoft’s Bing might replace Alphabet’s Google as the default search engine on Samsung smartphones.
