In the opening hours of the evening session, U.S. equity futures are marginally lower, with S&P 500, Nasdaq 100, and Dow Industrials contracts all down 0.1%. In commodities, WTI Crude Oil is down slightly but still above $60 per barrel while precious metals are lower, tracking dollar strength following the latest FOMC decision.
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On Thursday, major indices tracked firmer up until a surprisingly less dovish pivot that accompanied the widely expected 25 basis point FOMC cut. Fed Chair Powell doused expectations of pre-set follow up rate cut in December, and Fed Funds futures – previously pricing in an above 90% chance of more easing – are now at just 67%, according to CME FedWatch.
Tech and Communication Services were once again the dominant sectors in the green for the S&P 500 as Consumer Staples and Real Estate lagged. A heavy earnings docket out of the Mag-7 after the market close however runs the risk of upending the Tech winning streak – Meta and Microsoft were down 8% and 4% respectively following their results, though Alphabet shares saw a very constructive response by investors with a 6% jump.
Check out this evening’s top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
- Glaukos (GKOS) up 19.5%
- Guardant Health (GH) up 17.7%
- Align Technology (ALGN) up 16.4%
- C.H. Robinson Worldwide (CHRW) up 12.1%
- FormFactor (FORM) up 12.1%
- Verra Mobility (VRRM) up 10.4%
- Calix (CALX) up 9.3%
- Viavi Solutions (VIAV) up 8.7%
- Mister Car Wash (MCW) up 8.1%
- Bausch Health (BHC) up 7.3%
- Alphabet (GOOGL) up 6.1%
- ServiceNow (NOW) up 3.5%
DOWN AFTER EARNINGS –
- FMC Corporation (FMC) down 26.0%
- Sprout Farmers (SFM) down 22.1%
- Wolfspeed (WOLF) down 17.4%
- Chipotle (CMG) down 15.4%
- Carvana (CVNA) down 9.4%
- Impinj, Inc. (PI) down 9.1%
- eBay (EBAY) down 8.6%
- Meta Platforms (META) down 7.7%
- KLA Corp (KLAC) down 6.0%
- Regal Rexnord (RRX) down 4.4%
- Microsoft (MSFT) down 3.9%
- MercadoLibre (MELI) down 2.8%
- Starbucks (SBUX) down 0.6%
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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