March S&P 500 E-Mini futures (ESH24) are trending down -0.14% this morning as market participants looked ahead to the release of the Federal Reserve’s January policy meeting minutes while also awaiting quarterly results from chipmaker Nvidia.
In Tuesday’s trading session, Wall Street’s major indexes closed in the red, with the tech-heavy Nasdaq 100 falling to a 2-week low. Expeditors International of Washington Inc (EXPD) plunged over -6% and was the top percentage loser on the S&P 500 after the company reported downbeat Q4 results. Chip stocks also retreated as NVIDIA Corporation (NVDA) fell more than -4% in the run-up to its earnings report. In addition, Tesla Inc (TSLA) slumped over -3% after Phillip Securities downgraded the stock to Neutral from Accumulate with a $175 price target. On the bullish side, Discover Financial Services (DFS) soared more than +12% and was the top percentage gainer on the S&P 500 after Capital One Financial agreed to acquire the company in a $35.3 billion all-stock deal. Also, Walmart Inc (WMT) advanced over +3% and was the top percentage gainer on the Dow after reporting better-than-expected Q4 U.S. comparable sales. The U.S. retail giant also said it agreed to buy smart-TV maker Vizio Holding Corp. for about $2.3 billion.
