March S&P 500 E-Mini futures (ESH25) are up +0.12%, and March Nasdaq 100 E-Mini futures (NQH25) are up +0.48% this morning, extending Friday’s solid gains after muted U.S. inflation data helped reignite Federal Reserve rate cut bets, while investors also awaited a fresh batch of U.S. economic data this week.
In Friday’s trading session, Wall Street’s major equity averages closed in the green. Enphase Energy (ENPH) climbed over +8% and was the top percentage gainer on the S&P 500 after OTR Global upgraded its view on the stock to Mixed from Negative. Also, chip stocks gained ground, with Micron Technology (MU) and Nvidia (NVDA) advancing more than +3%. In addition, Mission Produce (AVO) soared over +17% after the company reported better-than-expected FQ4 results. On the bearish side, U.S. Steel (X) slumped about -5% after cutting its Q4 adjusted EBITDA guidance.
