September S&P 500 E-Mini futures (ESU24) are up +0.23%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.08% this morning, while Treasury yields slumped after fresh U.S. economic data left investors uncertain about the size of an anticipated interest rate cut from the Federal Reserve next week.
In yesterday’s trading session, Wall Street’s major averages ended in the green. Warner Bros. Discovery (WBD) climbed over +10% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after the company announced the early renewal of its multiyear distribution partnership with Charter Communications. Also, Kroger (KR) advanced more than +7% after raising the lower end of its full-year sales guidance. In addition, Roku (ROKU) gained over +5% after Wolfe Research upgraded the stock to Outperform from Peer Perform with a price target of $93. On the bearish side, Moderna (MRNA) plunged more than -12% and was the top percentage loser on the S&P 500 and Nasdaq 100 after announcing plans to reduce its research and development budget by about 20% over the next three years, aiming for a $1.1 billion decrease in its annual R&D expenses by 2027. Also, Micron Technology (MU) slid over -3% after Exane BNP Paribas double-downgraded the stock to Underperform from Outperform with a price target of $67.
