September S&P 500 E-Mini futures (ESU24) are up +0.03%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.06% 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, remarks from Fed Chair Jerome Powell, and a fresh batch of U.S. labor market data.
In Friday’s trading session, Wall Street’s major averages closed lower. Nike (NKE) tumbled about -20% and was the top percentage loser on the S&P 500 and Dow after the world’s largest sportswear company reported weaker-than-expected Q4 revenue and provided FY25 revenue guidance that fell short of analyst estimates. Also, Kura Sushi USA (KRUS) plunged more than -23% after reporting disappointing preliminary Q3 results and cutting its full-year revenue guidance. In addition, Accolade (ACCD) plummeted over -43% after the company issued below-consensus Q2 and FY25 revenue guidance. On the bullish side, Infinera (INFN) climbed more than +15% after Nokia Oyj agreed to acquire the company in a deal valued at about $2.3 billion.
