September S&P 500 E-Mini futures (ESU24) are up +0.39%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.42% this morning, building on yesterday’s sharp gains after U.S. labor market data helped alleviate concerns about a significant economic slowdown, while investors awaited a new batch of U.S. economic data due next week to reinforce signs of resilience in the world’s largest economy.
In yesterday’s trading session, Wall Street’s main stock indexes ended in the green. Parker-Hannifin (PH) surged over +10% after the company posted upbeat Q4 results and provided a strong FY25 adjusted EPS forecast. Also, chip stocks gained ground, with Arm (ARM) climbing more than +10% to lead gainers in the Nasdaq 100 and ON Semiconductor (ON) rising over +8%. In addition, Eli Lilly (LLY) advanced more than +9% after the drugmaker reported stronger-than-expected Q2 results and raised its full-year guidance. On the bearish side, McKesson (MCK) plunged over -11% and was the top percentage loser on the S&P 500 after the drug distributor reported weaker-than-expected Q1 revenue. Also, Monster Beverage (MNST) slumped more than -10% and was the top percentage loser on the Nasdaq 100 after reporting weaker-than-expected Q2 results and warning of declining demand.
