September S&P 500 futures (ESU23) are up +0.26%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.43% this morning as market participants looked ahead to the latest U.S. inflation data and more corporate earnings.
In Friday’s trading session, Wall Street’s major averages ended lower, with the benchmark S&P 500 and tech-heavy Nasdaq 100 dropping to 3-week lows and the blue-chip Dow notching a 2-week low. Apple Inc (AAPL) plunged over -4% after the U.S. tech giant reported its third consecutive quarter of declining sales and projected a similar performance in Q4. Cybersecurity stocks also tumbled, weighed down by an about -25% drop in shares of Fortinet Inc (FTNT) after the company reported mixed Q2 results and cut its annual sales guidance. In addition, Microchip Technology Inc (MCHP) slid over -6% after reporting in-line Q1 results and issuing a tepid Q2 outlook. On the bullish side, Amazon.com Inc (AMZN) soared more than +8% after the e-commerce giant posted stronger-than-expected Q2 results and delivered upbeat Q3 guidance.
