September S&P 500 E-Mini futures (ESU24) are down -0.06%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.05% this morning as investors looked ahead to the release of U.S. inflation data, Federal Reserve Chair Jerome Powell’s congressional testimony, and the start of the second-quarter earnings season later in the week.
In Friday’s trading session, Wall Street’s major averages closed in the green, with the benchmark S&P 500 and tech-heavy Nasdaq 100 notching new record highs. Macy’s (M) surged over +9% following a report from the Wall Street Journal that Arkhouse Management and Brigade Capital Management have increased their buyout offer for the department store chain to about $6.9 billion. Also, mega-cap technology stocks advanced, with Meta Platforms (META) climbing more than +5% to lead gainers in the S&P 500 and Alphabet (GOOGL) rising over +2%. In addition, chip stocks rallied after Samsung Electronics reported stronger-than-expected Q2 results, with ARM Holdings Plc (ARM) advancing more than +7% to lead gainers in the Nasdaq 100 and Advanced Micro Devices (AMD) gaining over +4%. On the bearish side, Nvidia (NVDA) fell nearly -2% after New Street Research downgraded the stock to Neutral from Buy.
