September S&P 500 futures (ESU23) are down -0.04%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.07% this morning after three major U.S. benchmark indices ended the regular session higher as investors digested remarks from several Federal Reserve officials while awaiting the release of Wednesday’s consumer price index data that will help determine the trajectory of future rate hikes.
In Monday’s trading session, Icahn Enterprises LP (IEP) surged more than +20% after the Wall Street Journal reported that Carl Icahn disconnected his personal loans from the price of his company’s shares. Chip stocks also rose after Taiwan Semiconductor Manufacturing Co. reported better-than-expected sales, with Intel Corporation (INTC) rising over +2% and Qualcomm Incorporated (QCOM) gaining about +1%. In addition, CAVA Group Inc (CAVA) climbed more than +11% after a majority of brokers initiated coverage on the company with buy-equivalent ratings. On the bearish side, FMC Corporation (FMC) tumbled over -11% and was the top percentage loser on the benchmark S&P 500 after the chemicals maker cut its Q2 and FY23 revenue guidance. Most megacap growth and technology stocks also lost ground, with Alphabet Inc (GOOGL) and Amazon.com Inc (AMZN) falling more than -2%.
