December S&P 500 futures (ESZ23) are up +0.28%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.04% this morning as market participants braced for a busy week of corporate earnings while awaiting a key speech by Federal Reserve Chairman Jerome Powell.
In Friday’s trading session, Wall Street’s major averages closed mixed. Dollar General Corporation (DG) soared over +9% and was the top percentage gainer on the benchmark S&P 500 after the retailer announced that Todd Vasos, current Board member and former Chief Executive Officer, had been appointed CEO of the company. Also, Wells Fargo & Company (WFC) gained more than +3%, and JPMorgan Chase & Co (JPM) rose over +1% after reporting better-than-expected Q3 earnings results. In addition, energy stocks surged as the price of WTI crude rose nearly +6%, driven by indications of an imminent ground invasion of Gaza by Israel. On the bearish side, Boeing Co (BA) fell more than -3% after a news report said the planemaker and Spirit AeroSystems had expanded inspections of a production defect affecting 737 Max 8 aircraft. Also, chip stocks retreated, with ON Semiconductor (ON) dropping over -4% and Advanced Micro Devices Inc (AMD) slumping more than -3%.
