March S&P 500 E-Mini futures (ESH25) are trending up +0.29% this morning, indicating an attempt by the benchmark index to snap a five-session losing streak, while investors awaited U.S. manufacturing data and remarks from a Federal Reserve official.
In yesterday’s trading session, Wall Street’s three main equity benchmarks ended lower. Tesla (TSLA) slumped over -6% and was the top percentage loser on the S&P 500 and Nasdaq 100 after the EV giant reported weaker-than-expected Q4 vehicle deliveries and posted a fall in annual deliveries for the first time in over a decade. Also, Apple (AAPL) slid more than -2% after Reuters reported that the tech giant was offering rare discounts on several iPhone models in China due to rising competition from domestic rivals. In addition, SoFi Technologies (SOFI) dropped over -8% after Keefe Bruyette downgraded the stock to Underperform from Market Perform with a price target of $8. On the bullish side, Constellation Energy (CEG) climbed more than +8% and was the top percentage gainer on the Nasdaq 100 after announcing it has secured two contracts with the U.S. government to supply over $1 billion in electricity and services. Also, chip stocks advanced, with ARM Holdings (ARM) and Micron Technology (MU) gaining over +3%.
