September S&P 500 futures (ESU23) are trending down -0.14% this morning as market participants awaited a speech from Fed Chair Jerome Powell for fresh clues on the future direction of U.S. monetary policy.
In Tuesday’s trading session, Wall Street’s major averages ended solidly in the green, primarily driven by the rise in consumer discretionary and technology stocks. Microsoft Corporation (MSFT), Apple Inc (AAPL), and Amazon.com Inc (AMZN) rose more than +1%, while Meta Platforms Inc (META) gained about +3% after Citi raised its price target on the stock to $360 from $315. Also, Delta Air Lines (DAL) climbed more than +6% and was among the top percentage gainers on the benchmark S&P 500 after boosting its earnings expectations. In addition, Snowflake Inc (SNOW) gained over +4% after the company announced an artificial intelligence-related partnership with Nvidia Corp. On the bearish side, Walgreens Boots Alliance Inc (WBA) plunged more than -9% and was the top percentage loser on the S&P 500 after the pharmacy chain reported mixed Q3 results and slashed its FY23 earnings forecast. Also, Lordstown Motors Corp (RIDE) tumbled over -17% after the company filed for Chapter 11 bankruptcy and put itself up for sale.
