September S&P 500 futures (ESU23) are up +0.36%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.47% this morning after three major U.S. benchmark indices ended the regular session mixed as investors braced for earnings reports from major retailers ahead of a speech by Federal Reserve Chair Jerome Powell later in the week.
In Monday’s trading session, the tech-heavy Nasdaq 100 outperformed major benchmarks, underpinned by an over +8% surge in NVIDIA Corporation (NVDA) after KeyBanc raised its price target on the stock to $620 from $550. Also, Tesla Inc (TSLA) climbed more than +7% after brokerage Baird Equity Research added the stock to its “best ideas” list. In addition, Palo Alto Networks Inc (PANW) surged over +14% after the cybersecurity company provided a strong FY24 billings forecast. On the bearish side, Johnson & Johnson (JNJ) fell more than -2% after the company said it was expecting to retain a stake of about 9.5% in its recently separated consumer health unit, Kenvue, following the completion of a share exchange offer.
