December S&P 500 E-Mini futures (ESZ25) are up +0.27%, and December Nasdaq 100 E-Mini futures (NQZ25) are up +0.39% this morning, signaling a rebound from yesterday’s sell-off on Wall Street as investor risk appetite gradually returns at the start of December, a period that has historically been strong for markets.
In yesterday’s trading session, Wall Street’s main stock indexes ended in the red. Moderna (MRNA) slid over -7% and was the top percentage loser on the S&P 500 after William Blair flagged an FDA report linking Covid-19 vaccines in younger people to deaths associated with myocarditis. Also, cryptocurrency-exposed stocks slumped after Bitcoin tumbled more than -5%, with Coinbase Global (COIN) sliding more than -4% and Strategy (MSTR) falling over -3%. In addition, Joby Aviation (JOBY) dropped more than -6% after Goldman Sachs initiated coverage of the stock with a Sell rating and a price target of $10. On the bullish side, Synopsys (SNPS) climbed over +4% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after Nvidia invested $2 billion in the company as part of a broader engineering and design partnership.
