June S&P 500 E-Mini futures (ESM24) are up +0.02%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.03% this morning as investors geared up for crucial U.S. producer inflation data while also awaiting comments from Federal Reserve Chair Jerome Powell.
In yesterday’s trading session, Wall Street’s major indexes ended mixed. Incyte Corp. (INCY) climbed over +8% and was the top percentage gainer on the S&P 500 after announcing that its board approved a share repurchase authorization of $2 billion. Also, Intel (INTC) rose more than +2% and was the top percentage gainer on the Dow following a report from the Wall Street Journal stating that the company is in advanced talks for a deal in which Apollo Global Management would provide over $11 billion to help the chipmaker set up a plant in Ireland. In addition, Squarespace (SQSP) surged over +13% after the website-building platform agreed to be acquired by private equity firm Permira in an all-cash deal valued at about $6.9 billion. On the bearish side, Applied Materials (AMAT) fell over -1% after Jefferies downgraded the stock to Hold from Buy with a price target of $210.
