September S&P 500 E-Mini futures (ESU24) are down -0.02%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.21% this morning as investors looked ahead to the release of the minutes of the Federal Reserve’s latest policy meeting, Fed Chair Jerome Powell’s speech at Jackson Hole, and earnings reports from a diverse group of prominent companies.
In Friday’s trading session, Wall Street’s major averages ended in the green, with the benchmark S&P 500 and blue-chip Dow rising to 2-week highs and the tech-heavy Nasdaq 100 climbing to a 3-week high. H&R Block (HRB) surged over +12% after the tax preparation company reported upbeat Q4 results, provided an above-consensus FY25 forecast, and announced a new $1.5 billion share repurchase program. Also, Coherent (COHR) climbed more than +7% after the company reported better-than-expected Q4 results and issued solid Q1 revenue guidance. In addition, Fox Corp. (FOXA) gained over +1% after Wells Fargo double-upgraded the stock to Overweight from Underweight with a price target of $46. On the bearish side, Applied Materials (AMAT) fell more than -1% after giving an in-line Q4 net sales forecast that disappointed investors looking for a bigger payoff from AI spending.
