June S&P 500 E-Mini futures (ESM24) are trending down -0.11% this morning as market participants awaited minutes of the Federal Reserve’s latest policy meeting as well as an earnings report from artificial intelligence bellwether Nvidia.
In yesterday’s trading session, Wall Street’s main stock indexes ended in the green. First Solar (FSLR) climbed over +8% and was the top percentage gainer on the S&P 500 after UBS and Piper Sandler raised their price targets on the stock. Also, Tesla (TSLA) advanced more than +6% and was the top percentage gainer on the Nasdaq 100 as a coalition of Tesla shareholders is urging peers to oppose a $56 billion pay package for CEO Elon Musk and to vote against the reelection of directors Kimbal Musk and James Murdoch, citing concerns that the board is not acting in the company’s best interests. In addition, International Business Machines (IBM) rose over +2% and was the top percentage gainer on the Dow after the tech giant revealed several artificial intelligence updates. On the bearish side, Nordson (NDSN) slumped more than -9% and was the top percentage loser on the S&P 500 after the company reported weaker-than-expected Q2 sales and cut its full-year guidance. Also, Palo Alto Networks (PANW) fell over -3% after the cybersecurity company gave a Q4 billings forecast that disappointed investors.
