September S&P 500 E-Mini futures (ESU24) are up +0.16%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.23% this morning as market participants awaited an earnings report from semiconductor stalwart Nvidia as well as the release of the Fed’s preferred inflation gauge later in the week.
In Friday’s trading session, Wall Street’s major averages closed higher, with the blue-chip Dow notching a 3-week high. Workday (WDAY) climbed over +12% and was the top percentage gainer on the Nasdaq 100 after the back-office software provider reported better-than-expected Q2 results and said it would sharply increase profitability over the next three years. Also, chip stocks gained ground, with Nvidia (NVDA), Marvell Technology (MRVL), and Arm (ARM) advancing more than +4%. In addition, CAVA Group (CAVA) soared over +19% after the company posted upbeat Q2 results and boosted its full-year guidance for adjusted EBITDA and restaurant comparable sales growth. On the bearish side, Intuit (INTU) slid more than -6% and was the top percentage loser on the S&P 500 and Nasdaq 100 after providing below-consensus Q1 adjusted EPS guidance.
