December S&P 500 E-Mini futures (ESZ25) are trending up +0.15% this morning, signaling a partial rebound from yesterday’s losses, while investors await the Federal Reserve’s September meeting minutes and remarks from central bank officials.
In yesterday’s trading session, Wall Street’s three main equity benchmarks closed in the red. Chip stocks retreated, with Lam Research (LRCX) and Applied Materials (AMAT) sliding more than -5%. Also, homebuilder stocks slumped after Evercore ISI downgraded the sector to In-Line from Outperform, with D.R. Horton (DHI) falling more than -6% and PulteGroup (PHM) dropping over -4%. In addition, Aehr Test Systems (AEHR) plunged more than -17% after the maker of semiconductor equipment swung to a quarterly loss on a GAAP basis and declined to reinstate its formal guidance. On the bullish side, Applovin (APP) climbed over +7% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after Citigroup advised buying the stock following a sell-off triggered by a report of an SEC probe into the company’s data-collection practices.
