U.S. stock futures fell early Friday as Nvidia’s (NVDA) 5.6% drop weighed on market sentiment. Investors are also anticipating a key inflation report today. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.30%, 0.35%, and 0.50%, respectively, at 5:34 a.m. EST on February 27.
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During Thursday’s regular trading, the three major indexes traded mixed. The S&P 500 fell 0.54%, the Nasdaq dropped 1.18%, while the Dow eked out a small gain of 0.03%. Friday marks February’s final trading day in a turbulent month that shook tech stocks amid fears of AI disruption. The Nasdaq Composite is headed for a 2.5% monthly drop, its worst since last March, while the S&P 500 eyes a 0.4% loss and the Dow a 1.2% gain.
After the markets closed, key software stocks declined. Salesforce (CRM) dropped over 2% and Microsoft (MSFT) slipped about 1%, dragging Dow futures lower. Zscaler (ZS) plunged nearly 10% after fiscal Q2 deferred revenue and billings missed estimates, while CoreWeave (CRWV) fell about 9% on weak guidance.
Turning to economic reports, January’s Producer Price Index (PPI), a key signal of wholesale inflation, is due this morning. Economists expect headline and core PPI to rise 0.3%. The report could sway expectations for the Federal Reserve’s next moves.
There are no key earnings reports due today.
Notably, the U.S. 10-year Treasury yield was down, floating near 3.99%. WTI crude oil futures were trending higher, hovering near $66.49 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $5,177 per ounce on Friday.
Elsewhere, European indexes opened mixed amid a slew of corporate earnings releases and economic reports.
Asia-Pacific Markets Trade Higher
Asia-Pacific markets traded mostly higher on February 27, despite Wall Street’s losses.
Hong Kong’s Hang Seng Index gained 0.95%. In China, the Shanghai Composite rose 0.39%, while the Shenzhen Component added 0.81%. Meanwhile, Japan’s Nikkei increased 0.16%, and the Topix surged 1.50%.