September S&P 500 E-Mini futures (ESU25) are trending up +0.26% this morning, attempting to snap a five-session losing streak, with focus squarely on a highly anticipated speech from Federal Reserve Chair Jerome Powell.
In yesterday’s trading session, Wall Street’s major indices ended in the red. Renewable energy stocks slumped after President Trump said in a social media post that the U.S. would not approve solar or wind power projects, with First Solar (FSLR) sinking about -7% to lead losers in the S&P 500 and Sunrun (RUN) sliding more than -4%. Also, Walmart (WMT) fell over -4% and was the top percentage loser on the Dow after the world’s largest retailer posted weaker-than-expected Q2 adjusted EPS. In addition, Coty (COTY) tumbled more than -21% after the cosmetics company posted an unexpected quarterly loss and projected that steep sales declines would continue in FQ1. On the bullish side, Nordson (NDSN) rose +3% after the manufacturing company reported better-than-expected FQ3 results and raised its full-year earnings guidance.
