December S&P 500 E-Mini futures (ESZ25) are up +0.34%, and December Nasdaq 100 E-Mini futures (NQZ25) are up +0.42% this morning, buoyed by rising expectations for a Federal Reserve rate cut next month, while investors await a new round of U.S. economic data.
In yesterday’s trading session, Wall Street’s major indexes closed higher. Keysight Technologies (KEYS) climbed over +10% and was the top percentage gainer on the S&P 500 after the technology company posted upbeat FQ4 results and issued above-consensus FQ1 guidance. Also, Applied Materials (AMAT) advanced +5% and was among the top percentage gainers on the Nasdaq 100 after UBS upgraded the stock to Buy from Neutral with a price target of $285. In addition, homebuilder stocks climbed after the benchmark 10-year T-note yield fell to a 3-1/2-week low, with Builders FirstSource (BLDR) surging over +8% and D.R. Horton (DHI) rising more than +5%. On the bearish side, Nvidia (NVDA) slid over -2% and was the top percentage loser on the Dow after The Information reported that Meta Platforms was in discussions to spend billions on Google’s AI chips.
