September S&P 500 futures (ESU23) are up +0.06%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.07% this morning after three major U.S. benchmark indices rallied on Tuesday as soft economic reports bolstered expectations that the Federal Reserve would pause its interest-rate hikes in September, while investors also braced for a new round of economic data.
In Tuesday’s trading session, the benchmark S&P 500 notched a 2-1/2 week high, the blue-chip Dow posted a 1-1/2 week high, and the tech-heavy Nasdaq 100 rose to a 3-week high. Catalent Inc (CTLT) climbed over +4% after the contract drugmaker entered into a cooperation agreement with activist investor Elliott Investment Management and announced that its board had established a committee to review its business, strategy, and operations. Also, U.S.-listed shares of PDD Holdings (PDD) surged more than +15% after the Chinese e-commerce firm posted a big jump in Q2 revenue. In addition, Verizon Communications Inc (VZ) and AT&T Inc (T) rose over +3% after Citi upgraded the telecom companies to Buy from Neutral.
