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Oleksandr Pylypenko

S&P Futures Slip Ahead of Key U.S. PPI Data and Big Bank Earnings

Inflation US Federal Reserve Austan Goolsbee United States WFC

December S&P 500 E-Mini futures (ESZ24) are trending down -0.32% this morning as market participants awaited crucial U.S. producer inflation data and earnings reports from some of the biggest U.S. banks.

In yesterday’s trading session, Wall Street’s major indexes ended in the red. PayPal Holdings (PYPL) slid over -3% after Bernstein downgraded the stock to Market Perform from Outperform. Also, chip stocks lost ground, with Advanced Micro Devices (AMD) slumping -4% to lead losers in the Nasdaq 100 and Intel (INTC) dropping more than -1%. In addition, Delta Air Lines (DAL) fell over -1% after the airline posted downbeat Q3 results and issued soft Q4 adjusted EPS guidance. On the bullish side, MongoDB (MDB) climbed more than +6% and was the top percentage gainer on the Nasdaq 100 after Piper Sandler listed ten reasons to buy the stock.

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