September S&P 500 E-Mini futures (ESU24) are trending up +0.12% this morning, stabilizing after yesterday’s tech-led selloff, with investors looking ahead to 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 closed mixed, with the tech-heavy Nasdaq 100 dropping to a 1-week low. Tesla (TSLA) slumped over -8% and was the top percentage loser on the S&P 500 and Nasdaq 100 after Bloomberg News reported that the company was delaying its planned robotaxi event by about two months to October. Also, Delta Air Lines (DAL) slid about -4% after the top U.S. carrier posted downbeat Q2 results and provided below-consensus Q3 adjusted EPS guidance. In addition, chip stocks retreated, with Nvidia (NVDA) falling more than -5% and Intel (INTC) dropping nearly -4% to lead losers in the Dow. On the bullish side, WD-40 (WDFC) gained over +4% after the company reported better-than-expected Q3 results.
