September S&P 500 E-Mini futures (ESU24) are down -0.09%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.10% this morning as market participants refrained from making any big bets ahead of a crucial U.S. inflation reading that could solidify expectations for Federal Reserve interest rate cuts later this year.
In yesterday’s trading session, Wall Street’s major indices ended in the green, with the benchmark S&P 500 topping the 5,600 level for the first time. Illumina (ILMN) climbed over +6% and was the top percentage gainer on the Nasdaq 100 after acquiring single cell analysis technology company Fluent BioSciences. Also, chip stocks advanced after Taiwan Semiconductor Manufacturing Co. reported stronger-than-expected Q2 sales, with Advanced Micro Devices (AMD) and Micron Technology (MU) rising about +4%. In addition, Aehr Test Systems (AEHR) surged more than +24% after reporting better-than-expected Q4 preliminary revenue. On the bearish side, Intuit (INTU) fell over -2% after the company cut 1,800 employees, amounting to roughly 10% of its total workforce.
