March S&P 500 E-Mini futures (ESH25) are trending down -0.15% this morning, taking a breather at the end of a turbulent week, while investors await a raft of U.S. economic data, with a particular focus on the retail sales report.
In yesterday’s trading session, Wall Street’s major indices closed in the green, with the benchmark S&P 500 posting a 1-1/2 week high and the tech-heavy Nasdaq 100 notching an 8-week high. MGM Resorts International (MGM) surged over +17% and was the top percentage gainer on the S&P 500 after the casino operator reported stronger-than-expected Q4 results. Also, chip stocks advanced after Treasury yields retreated, with Intel (INTC) climbing more than +7% and Micron Technology (MU) rising over +4%. In addition, AppLovin (APP) jumped more than +24% and was the top percentage gainer on the Nasdaq 100 after the mobile software company posted upbeat Q4 results and issued above-consensus Q1 revenue guidance. On the bearish side, West Pharmaceutical Services (WST) cratered over -38% and was the top percentage loser on the S&P 500 after issuing below-consensus FY25 guidance. Also, The Trade Desk (TTD) tumbled more than -32% after the ad tech firm posted weaker-than-expected Q4 revenue and provided disappointing Q1 revenue guidance.
