June S&P 500 E-Mini futures (ESM24) are trending up +0.10% this morning as market participants refrained from making big bets ahead of the release of a crucial U.S. consumer inflation report and the Federal Reserve’s March policy meeting minutes.
In yesterday’s trading session, Wall Street’s major indices ended mixed. Moderna (MRNA) climbed over +6% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after releasing positive data from a Phase 1 study assessing its individualized neoantigen candidate mRNA-4157 plus Merck’s Keytruda for the treatment of head and neck cancer. Also, chip stocks gained ground, with ON Semiconductor (ON) and Analog Devices (ADI) rising more than +3%. In addition, Cisco Systems (CSCO) advanced over +3% and was the top percentage gainer on the Dow after Morgan Stanley resumed coverage of the stock with an Overweight rating and a price target of $58. On the bearish side, Nvidia (NVDA) fell about -2% after Intel unveiled a new version of its artificial intelligence chip called Gaudi 3.
