March S&P 500 E-Mini futures (ESH24) are down -0.36%, and March Nasdaq 100 E-Mini futures (NQH24) are down -0.70% this morning as U.S. Treasury yields climbed at the start of a holiday-shortened week, with market participants looking ahead to the release of the minutes of the Federal Reserve’s latest policy meeting as well as Friday’s nonfarm payrolls report.
In Friday’s trading session, Wall Street’s major averages closed lower. LYFT Inc (LYFT) slid over -3% after Nomura downgraded the stock to Reduce from Neutral with a price target of $13. Also, chip stocks retreated, with ON Semiconductor Corporation (ON) and Marvell Technology Inc (MRVL) falling more than -1%. In addition, Uber Technologies Inc (UBER) dropped over -2% after Nomura downgraded the stock to Neutral from Buy with a price target of $62. On the bullish side, Boston Scientific Corp (BSX) rose more than +2% following the company’s announcement that it expects the FDA to approve its Farapulse PFA System for the treatment of atrial fibrillation in Q1 2024.
