June S&P 500 E-Mini futures (ESM24) are up +0.12%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.25% this morning as trading resumed after the Memorial Day holiday, with investors looking ahead to comments from Federal Reserve officials as well as the release of the Fed’s favorite inflation gauge later in the week for clues on the timing of interest-rate cuts.
In Friday’s trading session, Wall Street’s major averages closed higher. Deckers Outdoor (DECK) climbed over +14% and was the top percentage gainer on the S&P 500 after the footwear and apparel maker reported better-than-expected Q4 net sales. Also, Ross Stores (ROST) advanced more than +7% and was the top percentage gainer on the Nasdaq 100 after the retailer posted upbeat Q1 results and raised its full-year EPS forecast. In addition, Apple (AAPL) gained over +1% after Wedbush raised its price target on the stock to $275 from $250. On the bearish side, Workday (WDAY) tumbled more than -15% and was the top percentage loser on the Nasdaq 100 after the back-office software provider slashed its FY25 subscription revenue guidance. Also, Intuit (INTU) slumped over -8% and was the top percentage loser on the S&P 500 after the company issued below-consensus Q4 adjusted EPS guidance.
