December S&P 500 E-Mini futures (ESZ24) are down -0.13%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.06% this morning as investors awaited the latest reading on U.S. job openings, comments from Federal Reserve officials, and an earnings report from the world’s largest shoemaker Nike.
In yesterday’s trading session, Wall Street’s major indexes ended in the green. Apple (AAPL) rose over +2% and was the top percentage gainer on the Dow after JPMorgan Chase noted that lead times for the latest iPhone indicate that initially slower demand for Pro models was “starting to correct.” Also, CVS Health (CVS) gained more than +2% after the Wall Street Journal reported that hedge fund Glenview Capital Management is scheduled to meet with CVS Health’s top executives to suggest operational improvements. In addition, FedEx (FDX) advanced over +2%, and United Parcel Service (UPS) rose more than +1% after Stifel stated that the companies are the “most obvious beneficiaries” of extended disruption due to an impending port workers’ strike. On the bearish side, Boeing (BA) fell over -2% and was the top percentage loser on the Dow after the machinists union announced that negotiations to resolve the strike with the company had collapsed, with no further talks scheduled. Also, chip stocks came under pressure as Treasury yields climbed, with Micron Technology (MU) slumping more than -3% and On Semiconductor (ON) falling over -2%.
