December S&P 500 E-Mini futures (ESZ24) are down -0.14%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.12% this morning as market participants looked ahead to an earnings report from semiconductor stalwart Nvidia, a new batch of U.S. economic data, and comments from Federal Reserve officials.
In Friday’s trading session, Wall Street’s major averages closed sharply lower, with the benchmark S&P 500 and tech-heavy Nasdaq 100 falling to 1-1/2 week lows and the blue-chip Dow dropping to a 1-week low. Applied Materials (AMAT) slumped over -9% and was the top percentage loser on the S&P 500 and Nasdaq 100 after the largest U.S. maker of chip-manufacturing equipment provided a disappointing FQ1 revenue forecast. Also, AST SpaceMobile (ASTS) slid more than -9% after reporting a wider-than-expected Q3 loss. In addition, Pfizer (PFE) fell over -4% after Wolfe Research initiated coverage of the stock with an Underperform rating and a $25 price target. On the bullish side, Palantir Technologies (PLTR) surged more than +11% and was the top percentage gainer on the S&P 500 after announcing that it will transfer its stock exchange listing from the New York Stock Exchange to the Nasdaq.
