September S&P 500 E-Mini futures (ESU25) are trending up +0.23% this morning as investors brace for the start of the Federal Reserve’s two-day policy meeting, where it is widely expected to cut interest rates, while also awaiting U.S. retail sales data.
In yesterday’s trading session, Wall Street’s main stock indexes closed higher, with the S&P 500 and Nasdaq 100 notching new record highs. Seagate Technology (STX) climbed over +7% and was the top percentage gainer on the S&P 500 after Bank of America raised its price target on the stock to $215 from $170. Also, Alphabet (GOOGL) gained more than +4% after Citi raised its price target on the stock to $280 from $225. In addition, Tesla (TSLA) rose over +3% after CEO Elon Musk bought about $1 billion worth of the EV maker’s shares. On the bearish side, Corteva (CTVA) slumped more than -5% and was the top percentage loser on the S&P 500 after several analysts questioned the merits of a potential breakup of the agriculture company’s seed and pesticide businesses.
