June S&P 500 E-Mini futures (ESM24) are up +0.12%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.15% this morning as investors awaited a crucial U.S. inflation reading and the Federal Reserve’s interest rate decision.
In yesterday’s trading session, Wall Street’s main stock indexes closed mixed, with the S&P 500 and Nasdaq 100 notching new record highs. Apple (AAPL) climbed over +7% and was the top percentage gainer on all three major Wall Street averages following the company’s annual Worldwide Developers Conference, where it unveiled several features related to artificial intelligence and announced a partnership with ChatGPT maker OpenAI. Also, FMC Corp. (FMC) rose +4% after Fermium Research LLC upgraded the stock to Buy from Hold with a price target of $60. In addition, General Motors (GM) gained over +1% after the automaker’s board approved a new $6 billion share repurchase program. On the bearish side, Paramount Global (PARA) slumped more than -7% and was the top percentage loser on the S&P 500 after the Wall Street Journal reported that Shari Redstone’s NAI had decided to end talks with Skydance Media about acquiring the company. Also, PayPal Holdings (PYPL) slid over -3% and was the top percentage loser on the Nasdaq 100 after Apple introduced an innovative feature called ‘Tap to Cash’ that allows quick payments between individuals.
