U.S. stock futures rose on Friday following Thursday’s sell-off. Futures of all benchmark indices advanced in premarket trading, except the small-cap gauge Russell 2000.
Nvidia Corp. (NASDAQ:NVDA) fell over 8% on Thursday, dragging the tech-heavy Nasdaq 100 down despite the strong quarter as its gross margins fell sequentially, caused by the ramp-up in the production of its Blackwell chips.
Meanwhile, President Donald Trump escalated tariff threats against Mexico and Canada, saying that it will go into effect as scheduled on March 4, in a social media post. He further threatened additional tariffs on China, following his pledge to impose 25% tariffs on the EU.
Investors await Friday’s personal consumption expenditure inflation data amid uncertainty over interest rate cuts as it is the Federal Reserve’s preferred inflation gauge.
The 10-year Treasury yield stood at 4.25%, while the two-year yield was at 4.05%. According to the CME Group’s FedWatch tool, there is a 94.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.
| Futures | Change (+/-) |
| Nasdaq 100 | 0.27% |
| S&P 500 | 0.30% |
| Dow Jones | 0.27% |
| Russell 2000 | -0.06% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Friday. SPY was up 0.35% to $587.09, and QQQ advanced 0.28% to $501.67, according to Benzinga Pro data.
Cues From The Last Session
Most sectors in the S&P 500 ended lower Thursday, with technology and communication services leading the decline. However, financial and energy stocks bucked the trend.
The Nasdaq Composite dropped over 500 points, dragged down by Nvidia’s 8% plunge after its Q4 earnings.
Dell Technologies Inc. (NYSE:DELL) declined after missing revenue estimates, whereas, SoundHound AI Inc. (NASDAQ:SOUN) rose in after-hours after beating analyst expectations. Rocket Lab USA Inc. (NASDAQ:RKLB) shares dropped after a weak first-quarter guidance.
Economic data showed a slight upward revision to fourth quarter GDP according to its second reading released on Thursday. Also, initial jobless claims rose by 22,000 from the previous week to 242,000, the most in over two months and above market expectations of 221,000.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -2.78% | 18,544.42 |
| S&P 500 | -1.59% | 5,861.57 |
| Dow Jones | -0.45% | 43,239.50 |
| Russell 2000 | -1.59% | 2,139.66 |
Insights From Analysts
Ryan …
