September S&P 500 E-Mini futures (ESU24) are trending up +0.30% this morning as investors geared up for the start of the Federal Reserve’s two-day policy meeting while also awaiting a fresh batch of U.S. economic data, with particular attention on the retail sales report.
In yesterday’s trading session, Wall Street’s major indexes ended mixed. Intel (INTC) advanced over +6% and was the top percentage gainer on all three major Wall Street averages after Bloomberg News reported that the chipmaker had officially qualified for up to $3.5 billion in federal grants to make semiconductors for the Pentagon. Also, Oracle (ORCL) climbed more than +5% after Melius Research upgraded the stock to Buy from Hold with a price target of $210. In addition, Charles Schwab (SCHW) gained over +2% after the online brokerage reported that new brokerage accounts in August increased +4% y/y to 324,000 and said it anticipates Q3 revenue to climb by up to 3% compared to Q2. On the bearish side, Apple (AAPL) fell more than -2% and was the top percentage loser on the Dow after a TF International Securities analyst said that demand for the company’s iPhone 16 Pro series was lower than expected. Also, chip stocks lost ground, with Arm (ARM) slumping over -6% to lead losers in the Nasdaq 100 and Micron Technology (MU) sliding more than -4%.
