March S&P 500 E-Mini futures (ESH24) are up +0.50%, and March Nasdaq 100 E-Mini futures (NQH24) are up +0.67% this morning, rebounding from the previous day’s sell-off, while market participants geared up for a new round of U.S. economic data and awaited an earnings report from footwear and sports apparel giant Nike.
In Wednesday’s trading session, Wall Street’s major indices closed in the red. FedEx Corporation (FDX) slumped over -12% and was the top percentage loser on the benchmark S&P 500 after the Memphis-based shipping giant posted downbeat Q2 results and slashed its full-year revenue forecast. Also, Warner Bros Discovery Inc (WBD) plunged more than -5% following a report from Axios that the company is engaged in discussions with Paramount Global about a potential merger. In addition, General Mills Inc (GIS) fell over -3% after the Cheerios cereal maker lowered its full-year organic sales growth forecast. On the bullish side, Alphabet Inc (GOOGL) rose more than +1% following a report from The Information stating that the tech giant could restructure its ad sales unit to enhance efficiency and leverage automation.
