Stocks rise on Wall Street despite Trump-Zelenskyy rift, supported by strong economic data

From Nasdaq: 2025-02-28 15:23:11

Stock indexes rose today, with the S&P 500 up 0.48%, Dow Jones up 0.49%, and Nasdaq 100 up 0.46%. Futures for March show gains as well. Markets reacted positively to the Jan core PCE index meeting expectations. A White House meeting caused a slight dip, but stocks have recovered.

US economic news showed mixed results today. Jan personal spending fell unexpectedly by 0.2%, while personal income rose by 0.9%. The Feb MNI Chicago PMI surged to a 5-month high of 45.5, beating expectations. President Trump’s tariff threats rattled markets, with Bitcoin hitting a 3.5 month low.

Interest rates saw March 10-year T-notes rise, causing the yield to drop to 4.246%. European bond yields also fell, with the German bund yield at a 2-week low. The ECB’s Jan CPI expectations eased, while German retail sales and CPI figures showed mixed results. Swaps predict a 25 bp rate cut by the ECB in March.

Stock movers in the US included AES Corp, Marvell Technology, and Intel leading gains. Chip stocks rebounded today, supporting the broader market. Edison International and Monster Beverage also saw positive movements. On the downside, Acadia Healthcare and NetApp faced losses after earnings reports.



Read more at Nasdaq: Stocks Rise in Mixed Trade as Wall Street Watches Trump-Zelenskyy Rift