December S&P 500 futures (ESZ23) are trending down -0.07% this morning as investors looked ahead to the release of the Federal Reserve’s November policy meeting minutes while also awaiting quarterly results from chip designer Nvidia.
In Monday’s trading session, the benchmark S&P 500 posted a 3-1/2 month high, the blue-chip Dow rose to a 3-month high, and the tech-heavy Nasdaq 100 notched a 1-3/4 year high. Palo Alto Networks Inc (PANW) climbed over +5% after the company said in a filing on Friday that its board had approved the repurchase of up to an extra $316.7 million of its stock, representing an increase to the existing $3.3 billion repurchase plan. Also, Boeing Co (BA) soared more than +4% after Deutsche Bank upgraded the stock to Buy from Hold with a price target of $270. In addition, Microsoft Corporation (MSFT) gained over +2% after appointing OpenAI co-founders Sam Altman and Greg Brockman to lead a new advanced artificial intelligence team. On the bearish side, Chegg Inc (CHGG) plunged more than -6% after Morgan Stanley downgraded the stock to Underweight from Equal Weight with a price target of $9.
