March S&P 500 E-Mini futures (ESH24) are down -0.11%, and March Nasdaq 100 E-Mini futures (NQH24) are up +0.04% this morning as investors looked ahead to Federal Reserve Chair Jerome Powell’s congressional testimony while also bracing for a fresh slew of U.S. labor market data, with a particular focus on Friday’s nonfarm payrolls report.
In Friday’s trading session, Wall Street’s major averages closed higher, with the benchmark S&P 500 and tech-heavy Nasdaq 100 notching new record highs. NetApp Inc (NTAP) climbed over +18% and was the top percentage gainer on the S&P 500 after the company reported upbeat Q3 results and lifted its full-year adjusted EPS guidance. Also, chip stocks gained ground on lower bond yields and continued enthusiasm for AI, with Marvell Technology (MRVL) surging more than +8% and Advanced Micro Devices (AMD) advancing over +5%. In addition, Dell Technologies Inc (DELL) soared more than +31% after the company posted better-than-expected Q4 results, issued strong FY25 guidance, and announced a 20% increase in its annual dividend. On the bearish side, Dominion Energy Inc (D) plunged over -6% and was the top percentage loser on the S&P 500 after the company provided a below-consensus FY24 adjusted EPS forecast.
