June S&P 500 futures (ESM23) are up +0.36%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.27% this morning after three major U.S. benchmark indices ended the regular session with solid gains as risk appetite continued to rebound from turmoil in the banking sector, while upbeat outlooks from several companies eased some worries about the U.S. economy.
In Wednesday’s trading session, Wall Street’s main averages closed sharply higher, led by gains in tech stocks after Micron Technology (MU) issued a better-than-expected Q3 revenue forecast and provided an optimistic outlook for 2025. Consumer stocks also supported the broader market rally, with Carnival Corporation (CCL) climbing +6% after Susquehanna upgraded the cruise line to positive from neutral. In addition, regional bank stocks gained ground as fears about a contagion continued to ease, with First Republic Bank (FRC) and Lincoln National Corporation (LNC) rising over +4%. At the same time, Lululemon Athletica Inc (LULU) surged over +12% after reporting strong Q4 results and posting upbeat FY23 guidance.
