
September S&P 500 E-Mini futures (ESU25) are trending up +0.17% this morning, buoyed by hopes for multiple interest rate cuts from the Federal Reserve this year, while investors await an annual review of U.S. jobs data.
In yesterday’s trading session, Wall Street’s main stock indexes ended in the green. Applovin (APP) surged over +11% and was the top percentage gainer on the Nasdaq 100 after S&P Dow Jones Indices announced that the stock would be added to the S&P 500 index on September 22nd. Also, chip stocks advanced, with Marvell Technology (MRVL) rising more than +4% and Broadcom (AVGO) gaining over +3%. In addition, EchoStar (SATS) jumped more than +19% after SpaceX agreed to acquire wireless spectrum from the company for about $17 billion. On the bearish side, Summit Therapeutics (SMMT) plummeted over -25% after the company released new data that raised concerns about the future of its closely-watched lung cancer drug, ivonescimab.