June S&P 500 E-Mini futures (ESM25) are down -0.26%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.41% this morning, taking a breather after yesterday’s rally, while investors gear up for the release of key U.S. inflation data.
In yesterday’s trading session, Wall Street’s three main equity benchmarks closed sharply higher after the U.S. and China agreed to temporarily suspend most tariffs on each other’s products. The Magnificent Seven stocks rallied, with Amazon.com (AMZN) surging over +8% and Meta Platforms (META) rising more than +7%. Also, chip stocks jumped, with Microchip Technology (MCHP) climbing more than +10% and ON Semiconductor (ON) gaining over +8%. In addition, NRG Energy (NRG) soared more than +26% and was the top percentage gainer on the S&P 500 after the company posted upbeat Q1 results and acquired a fleet of natural gas-fired power plants from LS Power Equity Advisors for about $12 billion, including debt. On the bearish side, Cigna Group (CI) slid over -5% after President Trump proposed a plan to “cut out” drug industry middlemen in an effort to lower healthcare costs.
