September S&P 500 E-Mini futures (ESU25) are up +0.12%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.21% this morning, pointing to a slightly higher open on Wall Street, while investors await the Federal Reserve’s policy decision, a fresh batch of U.S. economic data, including the ADP employment report and the first estimate of second-quarter GDP, as well as earnings reports from “Magnificent Seven” companies Microsoft and Meta.
In yesterday’s trading session, Wall Street’s major indexes ended in the red. United Parcel Service (UPS) slumped over -10% and was among the top percentage losers on the S&P 500 after the delivery company reported weaker-than-expected Q2 adjusted EPS and said it would not provide full-year revenue or operating profit guidance due to macroeconomic uncertainty. Also, Brown & Brown (BRO) plunged more than -10% after the company posted weaker-than-expected Q2 organic revenue growth. In addition, UnitedHealth Group (UNH) fell over -7% and was the top percentage loser on the Dow after the company reported weaker-than-expected Q2 adjusted EPS and provided below-consensus FY25 guidance. On the bullish side, Corning (GLW) surged more than +11% and was the top percentage gainer on the S&P 500 after the maker of specialty glass and ceramics reported better-than-expected Q2 results and issued above-consensus Q3 core EPS guidance.
