June S&P 500 E-Mini futures (ESM24) are down -0.34%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.05% this morning after both the benchmark S&P 500 and tech-heavy Nasdaq 100 posted their fourth straight record closes in the previous session, with investors awaiting the University of Michigan survey of consumer confidence for more clues on the economy.
In yesterday’s trading session, Wall Street’s major indexes closed mixed. Broadcom (AVGO) surged over +12% and was the top percentage gainer on the Nasdaq 100 after the company posted upbeat Q2 results, raised its full-year revenue guidance, and announced a 10-for-1 stock split, effective July 15th. Also, Tesla (TSLA) climbed nearly +3% after Elon Musk said proposals to re-approve his $56 billion pay package and move the company’s state of incorporation to Texas were passing by “wide margins.” In addition, Chipotle Mexican Grill (CMG) gained about +3% after Goldman Sachs initiated coverage of the stock with a Buy rating. On the bearish side, Paramount Global (PARA) slid more than -6% and was the top percentage loser on the S&P 500 after CreditSights stated that the company could be downgraded to junk by Moody’s Ratings by the end of the year following the collapse of negotiations to sell the company to Skydance Media. Also, Dave & Buster’s Entertainment (PLAY) slumped over -10% after the company reported weaker-than-expected Q1 results.
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