December S&P 500 futures (ESZ23) are down -0.38%, and December Nasdaq 100 E-Mini futures (NQZ23) are down -0.50% this morning as market participants looked ahead to the release of fresh labor market data while the hawkish rhetoric from Fed officials kept Treasury yields elevated.
In Monday’s trading session, the tech-heavy Nasdaq 100 outperformed major benchmarks, underpinned by an about +3% gain in NVIDIA Corporation (NVDA) after Goldman Sachs upgraded the stock to Conviction Buy from Buy. Mega-cap technology stocks also gained ground, with Meta Platforms Inc (META) and Alphabet Inc (GOOGL) rising more than +2%. In addition, Insulet Corporation (PODD) climbed over +3% after Jefferies upgraded the stock to Buy from Hold. On the bearish side, Kellogg Company (K) plunged about -6% and was among the top percentage losers on the benchmark S&P 500 after the company completed the separation of its North American cereal business into a new company called WK Kellogg and renamed itself Kellanova. In addition, Target Corporation (TGT) slid over -3% after Bank of America Global Research lowered its price target on the stock to $120 from $135.
