December S&P 500 E-Mini futures (ESZ24) are up +0.21%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.30% this morning as global risk sentiment got a boost after Beijing announced one of its most aggressive economic stimulus packages since the pandemic.
In yesterday’s trading session, Wall Street’s major indexes closed in the green. Tesla (TSLA) climbed nearly +5% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after Barclays said it expects the company’s Q3 deliveries to exceed consensus estimates, which could drive continued stock strength. Also, Intel (INTC) advanced more than +3% and was the top percentage gainer on the Dow after Bloomberg reported that Apollo Global Management had offered to make a multibillion-dollar investment in the chipmaker. In addition, Walmart (WMT) gained over +1% after Melius Research LLC initiated coverage of the stock with a Buy rating and a price target of $95. On the bearish side, Regeneron Pharmaceuticals (REGN) slid more than -4% and was the top percentage loser on the S&P 500 and Nasdaq 100 after a federal judge in West Virginia rejected the company’s motion for a temporary injunction against Amgen, which recently received FDA approval for the biosimilar eye drug Pavblu.
