December S&P 500 E-Mini futures (ESZ25) are trending up +0.16% this morning as traders bet that a new round of U.S. economic data will reinforce expectations for a Federal Reserve rate cut next week.
In yesterday’s trading session, Wall Street’s major indexes closed higher, with the S&P 500 and Nasdaq 100 notching 2-1/2-week highs. Chip stocks advanced, with Intel (INTC) climbing over +8% to lead gainers in the Nasdaq 100 and NXP Semiconductors N.V. (NXPI) rising more than +7%. Also, Boeing (BA) surged more than +10% and was the top percentage gainer on the S&P 500 and Dow after Chief Financial Officer Jay Malave said he expects the company to generate low-single-digit positive free cash flow next year. In addition, MongoDB (MDB) jumped over +22% after the database software company posted upbeat Q3 results and raised its full-year guidance. On the bearish side, Symbotic (SYM) tumbled more than -21% after Goldman Sachs downgraded the stock to Sell from Neutral with a price target of $47.
