June S&P 500 E-Mini futures (ESM24) are down -0.29%, and June Nasdaq 100 E-Mini futures (NQM24) are down -0.58% this morning as the prospect of higher-for-longer U.S. interest rates continued to weigh on sentiment, with all eyes on the Federal Reserve’s interest rate decision due later in the day.
In yesterday’s trading session, Wall Street’s major indices ended lower. GE Healthcare (GEHC) slumped over -14% and was the top percentage loser on the S&P 500 and Nasdaq 100 after the medical equipment firm reported weaker-than-expected Q1 results. Also, F5 Inc. (FFIV) slid more than -9% after the application security company posted mixed Q2 results and offered a disappointing Q3 outlook. In addition, Warner Bros Discovery (WBD) fell over -9% following a report from the Wall Street Journal indicating that Comcast is seeking to replace Warner Bros as one of the broadcast partners for the National Basketball Association. On the bullish side, Eli Lilly (LLY) climbed nearly +6% after the pharmaceutical giant reported better-than-expected Q1 earnings and raised its full-year guidance. Also, 3M Company (MMM) advanced over +4% and was the top percentage gainer on the Dow after the industrial conglomerate reported upbeat Q1 results and said it expects to pay a dividend of approximately 40% of its adjusted free cash flow.
