September S&P 500 E-Mini futures (ESU24) are trending up +0.82% this morning, signaling a rebound from yesterday’s slump, while investors looked ahead to the release of the Fed’s preferred inflation gauge.
In yesterday’s trading session, Wall Street’s major indexes closed mixed. Edwards Lifesciences (EW) plummeted over -31% and was the top percentage loser on the S&P 500 after the company reported weaker-than-anticipated Q2 revenue, issued lackluster Q3 guidance, and cut its annual guidance for sales of some heart valve replacements. Also, Lululemon Athletica (LULU) slumped more than -9% and was the top percentage loser on the Nasdaq 100 after Citi downgraded the stock to Neutral from Buy. In addition, Ford Motor (F) tumbled over -18% after the carmaker reported downbeat Q2 results. On the bullish side, ServiceNow (NOW) surged more than +13% and was the top percentage gainer on the S&P 500 after the company posted upbeat Q2 results and raised its FY24 subscription revenue guidance. Also, International Business Machines (IBM) climbed over +4% and was the top percentage gainer on the Dow after the IT giant reported better-than-expected Q2 results and raised its full-year free cash flow forecast.
