September S&P 500 futures (ESU23) are up +0.18%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.26% this morning as market participants looked ahead to the release of the Fed’s favorite inflation gauge while also awaiting Friday’s nonfarm payrolls report.
In Friday’s trading session, Wall Street’s major averages closed higher. Hasbro (HAS) climbed over +5% and was the top percentage gainer on the S&P 500 after Stifel raised its price target on the stock to $94 from $79. Also, Hostess Brands Inc (TWNK) soared more than +21% after Reuters reported that the maker of Twinkies snacks is exploring a sale. In addition, Affirm Holdings Inc (AFRM) surged over +28% after the provider of buy now, pay later financing posted upbeat Q4 results and provided above-consensus Q1 revenue guidance. On the bearish side, Marvell Technology Inc (MRVL) fell more than -6% after the company posted Q2 results and Q3 guidance that was largely in-line with expectations. Also, Hawaiian Electric Industries Inc (HE) plunged over -18% after the company said it drew down most of its $375M revolving credit facilities and suspended its dividend, and S&P Global Ratings cut its rating further into junk territory.
