December S&P 500 E-Mini futures (ESZ24) are up +0.18%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.30% this morning as market participants looked ahead to the Federal Reserve’s final monetary policy committee meeting of the year as well as the release of the Fed’s favorite inflation gauge and other key economic data later in the week.
In Friday’s trading session, Wall Street’s major equity averages ended mixed, with the tech-heavy Nasdaq 100 notching a new all-time high and the blue-chip Dow posting a 3-week low. Broadcom (AVGO) soared over +24% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after the chipmaker reported better-than-expected FQ4 adjusted EPS and provided upbeat FQ1 revenue guidance. Also, RH (RH) surged more than +16% after raising its full-year revenue growth forecast. In addition, Tesla (TSLA) gained over +4% after Reuters reported that the Trump transition team intends to cancel an order mandating carmakers to report crashes involving self-driving systems. On the bearish side, Toll Brothers (TOL) slid more than -3% after JPMorgan Chase downgraded the stock to Neutral from Overweight.
