June S&P 500 E-Mini futures (ESM24) are trending up +0.30% this morning as market participants braced for the Federal Reserve’s higher-for-longer interest rates and shifted their attention to corporate earnings.
In yesterday’s trading session, Wall Street’s major indices ended mixed. Live Nation Entertainment (LYV) plunged over -7% and was the top percentage loser on the S&P 500 following a report from Bloomberg indicating that the Department of Justice is preparing to file an antitrust lawsuit against the concert promoter over its Ticketmaster business. Also, Bank of America (BAC) slid more than -3% after the lender reported higher-than-expected Q1 net charge-offs. In addition, Johnson & Johnson (JNJ) fell over -2% and was the top percentage loser on the Dow after reporting weaker-than-expected Q1 sales. On the bullish side, Super Micro Computer (SMCI) surged over +10% and was the top percentage gainer on the S&P 500 after Loop Capital Markets raised its price target on the stock to $1,500 from $600. Also, UnitedHealth Group (UNH) advanced more than +5% and was the top percentage gainer on the Dow after the health insurer reported better-than-expected Q1 results.
