September S&P 500 E-Mini futures (ESU26) are up +0.10% this morning, putting the benchmark index on track to end the week at a new record high, while investors await U.S. retail sales data that will provide fresh insight into consumer spending. The price of WTI crude edged higher on Friday after a tanker was attacked while trying to leave the Persian Gulf, and U.S. Treasury Secretary Scott Bessent promised unprecedented "economic isolation" for Iran.
Bessent said in an interview with Newsmax on Thursday that the U.S. would soon announce new economic measures against Iran. "Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent said. He added that the move would form part of a "one-two punch," alongside the ongoing blockade of Iran's ports.
Defense Secretary Pete Hegseth told reporters on Thursday that the U.S. could maintain its blockade of Iranian ports indefinitely by rotating ships in and out. Mark Cuban Says If You Win The Lottery, Don't Take The Lump Sum — And Tell People Who Ask for Money No, But 'Be Nice. No One Likes a Mean Billionaire' JPMorgan Just Upgraded Salesforce Stock.
Why Wall Street Isn't Buying Super Micro's $60 Billion Backlog Quite Yet Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. In yesterday's trading session, Wall Street's major indices ended in the green, with the S&P 500 posting a new record high.
Workday (WDAY) jumped over +17% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after reported that private equity firm Silver Lake was in talks to acquire the company. Also, Sandisk (SNDK) surged more than +13% after the company said at its investor day that it expects revenue to increase at a mid-to-high-teens annual rate between fiscal 2028 and 2030. In addition, Netflix (NFLX) climbed over +5% after Bill Ackman's Pershing Square disclosed a stake in the company.
On the bearish side, Cisco Systems (CSCO) slumped over -8% and was the top percentage loser on the Nasdaq 100 after the networking company projected $7.5 billion in AI data center-related sales for fiscal 2027, disappointing investors. Economic data released on Thursday showed that the U.S. producer price index for final demand was unchanged m/m and rose +4.7% y/y in July, weaker than expectations of +0.2% m/m and +4.9% y/y. Also, the core PPI, which excludes volatile food and energy costs, rose +0.2% m/m and +4.2% y/y in July, compared with expectations of +0.3% m/m and +4.2% y/y.
Extract — continue reading at the source.
