March S&P 500 E-Mini futures (ESH24) are trending up +0.09% this morning as market participants turned their attention to the crucial U.S. nonfarm payrolls report for further clues on the U.S. rate outlook.
In Thursday’s trading session, Wall Street’s major indexes closed in the green, with the benchmark S&P 500 and tech-heavy Nasdaq 100 posting new record highs. Kroger Company (KR) climbed over +9% and was the top percentage gainer on the S&P 500 after the grocery store operator reported upbeat Q4 results and provided above-consensus full-year adjusted profit guidance. Also, chip stocks gained ground, with ON Semiconductor (ON) and Microchip Technology (MCHP) advancing more than +6%. In addition, Edwards Lifesciences (EW) rose over +6% after Bank of America Global Research upgraded the stock to Buy from Neutral with a price target of $105. On the bearish side, Victoria’s Secret & Co (VSCO) tumbled more than -29% after the lingerie retailer warned of potential losses in Q1 and issued weaker-than-expected FY24 revenue guidance.
