September S&P 500 E-Mini futures (ESU24) are trending up +0.91% this morning, extending the rebound from Monday’s dramatic selloff, supported by remarks from a senior Bank of Japan official ruling out further rate hikes during periods of market instability, while investors awaited a new batch of earnings reports.
In yesterday’s trading session, Wall Street’s major indexes ended in the green. Kenvue (KVUE) surged over +14% and was the top percentage gainer on the S&P 500 after the company reported better-than-expected Q2 results. Also, Nvidia (NVDA) gained more than +3% after New Street Research upgraded the stock to Buy from Neutral with a price target of $120. In addition, Caterpillar (CAT) rose about +3% and was the top percentage gainer on the Dow after the construction equipment company posted upbeat Q2 results and said it expects an annual adjusted operating profit margin above the top end of its targets. On the bearish side, Henry Schein (HSIC) slumped more than -8% and was the top percentage loser on the S&P 500 after reporting weaker-than-expected Q2 revenue and cutting its full-year guidance.
