June S&P 500 E-Mini futures (ESM24) are up +0.25%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.37% this morning as speculation over interest rate cuts by major central banks heightened appetite for risk-driven assets, while market participants looked ahead to a fresh slew of U.S. labor market data, with a particular focus on Friday’s nonfarm payrolls report.
In Friday’s trading session, Wall Street’s major averages closed mixed. Caesars Entertainment (CZR) surged over +11% and was the top percentage gainer on the S&P 500 after Bloomberg reported that billionaire activist investor Carl Icahn has amassed a significant stake in the hotel and casino group, with Icahn stating in response to a Bloomberg query, “There’s absolutely no activism contemplated in Caesars.” Also, Zscaler (ZS) climbed more than +8% and was the top percentage gainer on the Nasdaq 100 after the cloud security firm reported stronger-than-expected Q3 results and boosted its full-year guidance. In addition, Gap (GPS) soared over +28% after the company posted upbeat Q1 results and raised its full-year guidance. On the bearish side, MongoDB (MDB) tumbled more than -23% and was the top percentage loser on the Nasdaq 100 after the company issued soft Q2 guidance and lowered its full-year forecast.
