June S&P 500 E-Mini futures (ESM24) are up +0.24%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.18% this morning as market participants looked ahead to a fresh batch of corporate earnings reports and remarks from a host of Federal Reserve officials.
In Friday’s trading session, Wall Street’s major averages closed higher, with the benchmark S&P 500 and tech-heavy Nasdaq 100 posting 2-1/2 week highs and the blue-chip Dow notching a 3-1/2 week high. Amgen (AMGN) surged over +11% and was the top percentage gainer on all three major Wall Street averages after the biotech giant reported better-than-expected Q1 adjusted EPS and its chief executive officer said the company was “very encouraged” by early results from a study of its experimental obesity drug, MariTide. Also, Apple (AAPL) climbed about +6% after the iPhone maker reported better-than-expected Q2 results, projected a return to growth in the current quarter, and unveiled a record $110 billion share buyback program. In addition, Arista Networks (ANET) gained more than +4% after Jeffries upgraded the stock to Buy from Hold with a price target of $320. On the bearish side, Expedia Group (EXPE) tumbled over -15% and was the top percentage loser on the S&P 500 after reporting weaker-than-expected Q1 gross bookings.
