September S&P 500 E-Mini futures (ESU24) are down -0.06%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.05% this morning as investors looked ahead to the release of U.S. inflation data, Federal Reserve Chair Jerome Powell’s congressional testimony, and the start of earnings season later in the week.
In Friday’s trading session, Wall Street’s major averages closed in the green, with the benchmark S&P 500 and tech-heavy Nasdaq 100 notching new record highs. Macy’s (M) surged over +9% following a report from the Wall Street Journal that Arkhouse Management and Brigade Capital Management have increased their buyout offer for the department store chain to about $6.9 billion. Also, mega-cap technology stocks advanced, with Meta Platforms (META) climbing more than +5% to lead gainers in the S&P 500 and Alphabet (GOOGL) rising over +2%. In addition, chip stocks rallied after Samsung Electronics reported stronger-than-expected Q2 results, with ARM Holdings Plc (ARM) advancing more than +7% to lead gainers in the Nasdaq 100 and Advanced Micro Devices (AMD) gaining over +4%. On the bearish side, Nvidia (NVDA) fell nearly -2% after New Street Research downgraded the stock to Neutral from Buy.
