U.S. stock futures were down ahead of Friday’s session as investors reacted to weakness in Nvidia (NVDA) and waited for a key inflation report due Friday morning. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) Index were down by 0.19%, 0.49%, and 0.28%, respectively, at 2:09 a.m. EDT on February 27.
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Forget margin or options. Here's how the pros trade QQQThe pressure came after the S&P 500 fell 0.5% and the Nasdaq dropped 1.2% during Thursday’s regular trading session, while the Dow managed a small gain. Nvidia stock was the biggest surprise of the day, sliding 5.5% despite strong quarterly results.
In extended trading, notable software names moved lower. Salesforce (CRM) fell more than 2% and Microsoft (MSFT) slipped about 1%, weighing on Dow futures. Cybersecurity firm Zscaler (ZS) dropped nearly 10% after fiscal Q2 deferred revenue and billings missed estimates. CoreWeave (CRWV) slid about 9% on weak guidance.
All eyes now turn to January’s Producer Price Index (PPI), a key measure of wholesale inflation. Economists expect both headline and core PPI to rise 0.3%. The report could influence expectations for the Federal Reserve’s next steps.