September S&P 500 futures (ESU23) are up +0.24%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.27% this morning after three major U.S. benchmark indices ended the regular session mixed as investors weighed Fed Chair Jerome Powell’s hawkish signals, while bracing for another round of economic data.
In Wednesday’s trading session, the tech-heavy Nasdaq 100 outperformed major benchmarks, buoyed by gains in megacap technology stocks as U.S. Treasury yields dipped despite Powell’s hawkish remarks. Also, cruise stocks gained ground, with Carnival Corporation (CCL) rising over +8% and Norwegian Cruise Line (NCLH) climbing more than +7%. In addition, Netflix Inc (NFLX) gained about +3% after Oppenheimer raised its price target on the stock to $500 from $450. On the bearish side, NVIDIA Corporation (NVDA) fell over -1%, dragging down other chip stocks after the WSJ reported the U.S. could impose new restrictions on exports of AI chips to China. Also, General Mills Inc (GIS) plunged over -5% and was the top percentage loser on the benchmark S&P 500 after the company’s Q4 revenue and organic sales fell short of expectations.
