
December S&P 500 futures (ESZ23) are trending down -0.05% this morning as market participants geared up for a big week for central banks, with the spotlight on the Federal Reserve’s interest rate decision on Wednesday.
In Monday’s trading session, Wall Street’s major averages closed just above the flatline. Apple Inc (AAPL) rose over +1% on optimism regarding robust pre-orders for the company’s latest iPhone 15. Also, Alteryx Inc (AYX) climbed more than +4% after Morgan Stanley upgraded the stock to Overweight from Equal Weight. On the bearish side, Tesla Inc (TSLA) fell over -3% and was among the top percentage losers on the tech-heavy Nasdaq 100 after Goldman Sachs slightly lowered its 2023 and 2024 earnings estimates for the electric vehicle giant. In addition, Arm Holdings (ARM) plunged more than -4% after Bernstein initiated coverage of the stock with an Underperform rating.