S&P 500 Futures Edge Higher as Strong Factory Data Keeps Rate Hike Risks Alive

Simply Wall St··US·Read original
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Summary · why it matters

US stock futures are slightly higher this morning, with E-mini S&P 500 contracts up around 0.1%, as investors weigh stronger factory activity against the risk of higher borrowing costs. The ISM Manufacturing PMI jumped to 55.6 in July, its best reading since May 2022, signaling busier factories, improving hiring, and easing cost pressures. The 10-year Treasury yield sits near 4.69%, keeping a possible September interest rate hike on the table. Among top movers, Palantir Technologies surged 29.45% after an exceptional Q2 report and analyst upgrades, while NRG Energy declined 15.48% despite reporting higher sales and continued profitability. Earnings take the spotlight over the next few sessions, with Walt Disney, Uber Technologies, CVS Health, and Occidental Petroleum among the companies reporting on Wednesday.

Impact on assets 18

Energy Transition & Power Demand▼
NRG Energy Inc.
NRG
▼ NegativeCapitalrelevance

Declined 15.48% despite higher sales and continued profitability

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