September S&P 500 futures (ESU23) are trending up +0.06% this morning as market participants looked ahead to a reading on the Federal Reserve’s preferred inflation gauge.
In Wednesday’s trading session, Wall Street’s major averages ended in the green, with the benchmark S&P 500 rising to a 2-1/2 week high, the blue-chip Dow notching a 2-week high, and the tech-heavy Nasdaq 100 rising to a 3-1/2 week high. Insulet Corporation (PODD) climbed over +6% and was the top percentage gainer on the S&P 500 after the insulin pump maker’s CEO, James Hollingshead, disclosed the purchase of more than $1M worth of company shares. Also, Apple Inc (AAPL) rose more than +1% after Citigroup reiterated its Buy rating on the stock, expressing optimism regarding the upcoming launch of the iPhone 15 scheduled for September 12th. In addition, Netflix (NFLX) gained about +1% after Truist Securities raised its price target on the stock to $485 from $339. On the bearish side, HP Inc (HPQ) fell more than -6% after the PC giant posted mixed Q3 results and cut its full-year cash flow and profit outlook.
