June S&P 500 E-Mini futures (ESM24) are down -0.03%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.12% this morning as market participants looked ahead to a fresh batch of U.S. economic data and comments from a host of Federal Reserve officials.
In Friday’s trading session, Wall Street’s major averages closed mixed, with the tech-heavy Nasdaq 100 notching a new all-time high and the blue-chip Dow dropping to a 1-1/2 week low. ON Semiconductor (ON) slid over -4% and was the top percentage loser on the Nasdaq 100 after the semiconductor company announced plans to cut its global workforce by about 1,000 employees. Also, cruise line operators retreated after Bank of America said that cruise pricing in early June was “modestly softer” compared to May, with Norwegian Cruise Line Holdings (NCLH) slumping more than -7% to lead losers in the S&P 500. In addition, RH (RH) tumbled about -17% after the company reported a much wider-than-expected Q1 adjusted loss per share. On the bullish side, Adobe (ADBE) climbed over +14% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after the creative software maker posted upbeat Q2 results, gave a strong Q3 digital media net new annual recurring revenue forecast, and raised its full-year EPS guidance.
