March S&P 500 E-Mini futures (ESH24) are down -0.25%, and March Nasdaq 100 E-Mini futures (NQH24) are down -0.63% this morning as investors geared up for a new batch of U.S. economic data while looking ahead to Federal Reserve Chair Jerome Powell’s congressional testimony.
In Monday’s trading session, Wall Street’s major indices ended lower. Tesla Inc (TSLA) plunged over -7% and was the top percentage loser on the S&P 500 and Nasdaq 100 after preliminary data released by China’s Passenger Car Association showed the automaker’s China shipments fell -15.5% m/m to 60,365 units in February. Also, International Game Technology PLC (IGT) slumped more than -8% after Stifel downgraded the stock to Hold from Buy. In addition, Apple Inc (AAPL) slid over -2% following a 1.8 billion euros ($2 billion) EU antitrust fine for breaking competition laws over music streaming. On the bullish side, Super Micro Computer Inc (SMCI) soared over +18% after S&P Dow Jones Indices announced late last Friday that the data-server provider will replace Whirlpool Corp. in the S&P 500 effective March 18th. Also, Macy’s Inc (M) gained more than +13% after Arkhouse Management and Brigade Capital Management raised their offer for Macy’s by 14% following the department store operator’s rejection of a previous proposal.
