March S&P 500 E-Mini futures (ESH26) are trending down -0.02% this morning as investors adopt a cautious stance ahead of the release of the Federal Reserve’s December meeting minutes.
In yesterday’s trading session, Wall Street’s main stock indexes ended in the red. Most members of the Magnificent Seven stocks retreated, with Tesla (TSLA) falling over -3% to lead losers in the Nasdaq 100 and Nvidia (NVDA) dropping more than -1%. Also, gold mining stocks slumped after gold prices plunged amid profit-taking, with Newmont (NEM) sliding over -5% to lead losers in the S&P 500 and Freeport-McMoran (FCX) falling nearly -3%. In addition, Ultragenyx Pharmaceutical (RARE) plummeted over -42% after setrusumab, the company’s treatment candidate for the rare genetic bone disease osteogenesis imperfecta, failed to meet its primary endpoint in two late-stage trials. On the bullish side, DigitalBridge Group (DBRG) surged more than +9% after SoftBank Group agreed to buy the company in a deal valued at $4 billion.
