June S&P 500 E-Mini futures (ESM25) are down -0.59%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.77% this morning, pointing to a lower open on Wall Street as a rally sparked by the U.S.-China tariff deal cooled, while investors look ahead to a raft of U.S. economic data, remarks from Federal Reserve Chair Jerome Powell, and an earnings report from retail giant Walmart.
In yesterday’s trading session, Wall Street’s major indexes closed mixed. Super Micro Computer (SMCI) surged over +15% and was the top percentage gainer on the S&P 500, extending Tuesday’s gains after Saudi Arabia-based data center company DataVolt signed a multi-year partnership agreement with the company. Also, chip stocks advanced, with Arm Holdings (ARM) climbing more than +5% to lead gainers in the Nasdaq 100 and Advanced Micro Devices (AMD) rising over +4%. In addition, Exelixis (EXEL) soared more than +20% after the biotechnology firm posted upbeat Q1 results and raised its full-year revenue guidance. On the bearish side, American Eagle Outfitters (AEO) slumped over -6% after the apparel chain withdrew its full-year guidance due to macro uncertainty.
