December S&P 500 E-Mini futures (ESZ24) are up +0.22%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.26% this morning as investors looked ahead to the Federal Reserve’s final policy decision of the year.
In yesterday’s trading session, Wall Street’s three main equity benchmarks ended in the red. Managed care stocks came under pressure after Pfizer CEO Albert Bourla said U.S. President-elect Donald Trump is “very committed” to reforming the pharmacy benefit manager industry, with Humana (HUM) plunging over -10% to lead losers in the S&P 500 and CVS Health (CVS) falling more than -5%. Also, chip stocks lost ground, with Marvell Technology (MRVL) slumping over -10% to lead losers in the Nasdaq 100 and Broadcom (AVGO) sliding nearly -4%. In addition, Red Cat Holdings (RCAT) dropped over -7% after reporting weaker-than-expected FQ2 results. On the bullish side, Pfizer (PFE) climbed more than +4% and was the top percentage gainer on the S&P 500 after the drugmaker reaffirmed its 2024 guidance and provided a better-than-expected 2025 adjusted EPS forecast. Also, Tesla (TSLA) gained over +3% and was the top percentage gainer on the Nasdaq 100 after Mizuho upgraded the stock to Outperform from Neutral with a $515 price target.
