In the opening hour of the evening session, U.S. equity futures are mixed/little changed – S&P500 e-minis are flat, Dow Industrials are down a decimal, while Nasdaq 100 is up 0.1%. Major indices continued to make fresh record highs on Tuesday, even though the market retreated from intra-day high toward the day’s end. Tech was by far the best performing sector with several Mag-7 names on deck for earnings this week. Meanwhile, interest rate sensitive areas like Real Estate and Utilities were the weakest sectors heading into tomorrow’s FOMC decision. Fixed income markets are pricing in a near-100% certainty of another 25 basis point cut and a 92% probability for that easing to be followed by another reduction in December.
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In commodities, WTI Crude Oil was down for the 3rd straight day but remains above $60 per barrel. Gold, meanwhile, resumed trading lower after its 3rd consecutive session of losses as well, trading down as low as $3,901 on Tuesday.
Check out this evening’s top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
- Teradyne (TER) up 21.6%
- Bloom Energy (BE) up 18.7%
- Seagate (STX) up 4.3%
- Flowserve Corporation (FLS) up 4.3%
- Logitech International S.A. (LOGI) up 4.0%
- Booking Holdings (BKNG) up 3.4%
- Visa (V) up 0.6%
ALSO HIGHER –
DOWN AFTER EARNINGS –
- Stride (LRN) down 37.5%
- Varonis Systems (VRNS) down 31.3%
- Modine Manufacturing (MOD) down 8.0%
- Enphase Energy (ENPH) down 7.9%
- Caesars Entertainment (CZR) down 7.2%
- Quad/Graphics (QUAD) down 6.4%
- Mondelez (MDLZ) down 5.8%
- Cheesecake Factory (CAKE) down 2.6%
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