December S&P 500 E-Mini futures (ESZ24) are trending down -0.09% this morning as investors weighed the sustainability of China’s rally and looked ahead to remarks from a Federal Reserve official as well as an earnings report from semiconductor giant Micron.
In yesterday’s trading session, Wall Street’s main stock indexes ended in the green. Nvidia (NVDA) climbed about +4% following a report from Barron’s that the company’s chief executive officer, Jensen Huang, was done selling his shares. Also, stocks exposed to China surged after Beijing announced a slew of stimulus measures, with JD.com (JD) soaring more than +13% and PDD Holdings (PDD) advancing over +11% to lead gainers in the Nasdaq 100. In addition, Uber Technologies (UBER) rose more than +3% after Raymond James resumed coverage of the stock with a Strong Buy rating and a price target of $90. On the bearish side, Visa (V) slumped over -5% and was the top percentage loser on the Dow after the U.S. Justice Department filed a lawsuit against the company, alleging that it illegally monopolized the U.S. debit card market.
