December S&P 500 E-Mini futures (ESZ24) are up +0.03%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.08% this morning, steadying after yesterday’s slump, while investors awaited the next round of corporate earnings.
In yesterday’s trading session, Wall Street’s major indexes closed lower. ASML Holding N.V. (ASML) tumbled over -16% and was the top percentage loser on the Nasdaq 100 after reporting weaker-than-expected Q3 bookings and cutting its full-year net sales guidance. Also, chip stocks slumped after Bloomberg reported that the Biden administration is discussing limiting sales of advanced AI chips to certain countries, with KLA Corp. (KLAC) plunging more than -14% to lead losers in the S&P 500 and Nvidia (NVDA) dropping over -4%. In addition, UnitedHealth Group (UNH) slid more than -8% and was the top percentage loser on the Dow after the health insurer cut its FY24 adjusted EPS forecast. On the bullish side, Walgreens Boots Alliance (WBA) surged over +15% and was the top percentage gainer on the S&P 500 after the drugstore operator posted upbeat Q4 results and issued above-consensus FY25 sales guidance.
