September S&P 500 E-Mini futures (ESU24) are up +0.18%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.41% this morning, signaling a partial rebound from yesterday’s slump, while investors awaited a new round of U.S. economic data, remarks from Federal Reserve officials, as well as corporate earnings reports, with the spotlight on results from streaming giant Netflix.
In yesterday’s trading session, Wall Street’s major indices closed mixed. Spirit Airlines (SAVE) plunged over -10% after the carrier lowered its Q2 revenue guidance. Also, chip stocks declined due to concerns about tighter U.S. restrictions on chip sales to China, with ASML Holding NV (ASML) slumping more than -12% to lead losers in the Nasdaq 100, Advanced Micro Devices (AMD) sliding over -10%, and Nvidia (NVDA) falling more than -6%. In addition, Five Below (FIVE) tumbled over -25% after the discount retailer provided downbeat Q2 guidance and announced the resignation of Joel Anderson from his roles as President and CEO. On the bullish side, Johnson & Johnson (JNJ) rose more than +3% after the pharmaceutical giant reported better-than-expected Q2 results.
