September S&P 500 futures (ESU23) are down -0.09%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.05% this morning as market participants looked ahead to the release of the minutes of the Federal Reserve’s latest policy meeting as well as quarterly earnings reports from high-profile retailers.
In Friday’s trading session, Wall Street’s major averages closed mixed, with the benchmark S&P 500 and tech-heavy Nasdaq 100 dropping to 1-month lows. Wynn Resorts Limited (WYNN) slid over -3% after the company announced the closure of its sports betting app in eight states. Chip stocks also slumped, with Lam Research Corp (LRCX) falling about -5% and NVIDIA Corporation (NVDA) dropping more than -3%. In addition, U.S.-listed Chinese technology stocks plunged on concerns surrounding the state of China’s economy. As a result, JD.com Inc (JD) closed down over -5%, and Baidu Inc (BIDU) closed down more than -4%. On the bullish side, News Corp (NWSA) climbed over +4% and was the top percentage gainer on the S&P 500 after the Rupert Murdoch-owned media conglomerate topped quarterly profit estimates.
