December S&P 500 E-Mini futures (ESZ24) are down -0.58%, and December Nasdaq 100 E-Mini futures (NQZ24) are down -0.90% this morning after Federal Reserve Chair Jerome Powell indicated the central bank was in no rush to lower interest rates, while investors geared up for a flurry of U.S. economic data, with a particular focus on the retail sales report.
In yesterday’s trading session, Wall Street’s major indices ended in the red. Super Micro Computer (SMCI) slumped over -11% and was the top percentage loser on the Nasdaq 100 after the embattled AI server maker delayed another quarterly 10-Q filing. Also, Cisco Systems (CSCO) fell more than -2% as the networking giant’s conservative full-year sales forecast overshadowed better-than-expected FQ1 results and upbeat FQ2 guidance. In addition, Tetra Tech (TTEK) plunged over -13% after the company provided weak full-year guidance. On the bullish side, Tapestry (TPR) climbed more than +12% and was the top percentage gainer on the S&P 500 after announcing the termination of an $8.5 billion merger deal with Capri Holdings. Also, Walt Disney (DIS) rose over +6% and was the top percentage gainer on the Dow after the entertainment giant posted upbeat FQ4 results and projected high-single-digit adjusted EPS growth in FY25.
