September S&P 500 E-Mini futures (ESU24) are trending up +0.17% this morning as market participants awaited an annual review of U.S. jobs data as well as the Federal Reserve’s July meeting minutes for further clues on the path of interest rates.
In yesterday’s trading session, Wall Street’s main stock indexes ended in the red. Boeing (BA) slid over -4% and was the top percentage loser on the Dow after the aircraft manufacturer paused flight tests of its 777X jetliner while it inspects cracks in a crucial structural component. Also, diabetes stocks lost ground on the news that Eli Lilly’s weight-loss drug Zepbound reduced the risk of diabetes by 94% in obese and pre-diabetic patients, with Insulet (PODD) slumping more than -6% to lead losers in the S&P 500 and Dexcom (DXCM) plunging over -6% to lead losers in the Nasdaq 100. In addition, Bank of America (BAC) fell more than -2% after an SEC filing revealed Berkshire Hathaway sold $550.7 million of its Bank of America stock holdings between August 15-19. On the bullish side, Palo Alto Networks (PANW) climbed over +7% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after the cybersecurity company posted upbeat Q4 results and provided solid FY25 guidance.
