June S&P 500 E-Mini futures (ESM24) are down -0.04%, and June Nasdaq 100 E-Mini futures (NQM24) are down -0.08% this morning as U.S. Treasury yields continued to rise, while investors looked ahead to quarterly reports from more big banks, remarks from Fed officials, and a fresh batch of U.S. economic data.
In yesterday’s trading session, Wall Street’s major indexes closed in the red, with the benchmark S&P 500 notching a 1-3/4 month low, the blue-chip Dow posting a 2-3/4 month low, and the tech-heavy Nasdaq 100 falling to a 3-week low. Salesforce (CRM) slumped over -7% and was the top percentage loser on the S&P 500 and Dow after the Wall Street Journal reported that the cloud software company is in advanced talks to acquire data-management firm Informatica. Also, Tesla (TSLA) slid more than -5% after CEO Elon Musk said the carmaker would reduce its global headcount by more than 10% amid a slowdown in electric vehicle demand. In addition, Apple (AAPL) fell over -2% after preliminary data from research firm International Data Corporation showed that the company’s global iPhone shipments fell 9.6% on year to 50.1 million units in the first three months of the year. On the bullish side, M&T Bank (MTB) climbed more than +4% and was the top percentage gainer on the S&P 500 after boosting its full-year net interest income guidance. Also, Goldman Sachs (GS) rose nearly +3% and was the top percentage gainer on the Dow after the Wall Street bank posted upbeat Q1 results.
