From Nasdaq:

Stock indexes, including the S&P 500 and Nasdaq 100, rallied to new record highs on Friday. Weaker economic news boosted the outlook for Fed rate cuts, leading chip stocks higher on optimism over AI demand. The S&P 500 posted gains for four consecutive months, with strong full-year returns historically after positive January and February.

In the U.S., February ISM manufacturing unexpectedly fell, while January construction spending and February consumer sentiment were weaker than expected. Fed officials Waller and Bostic showed concerns over interest rates, leading to a 2-week high in T-note yields. The markets are anticipating a possible rate cut at the March FOMC meeting.

Overseas, stock markets settled higher with the Euro Stoxx 50 and Nikkei Stock Index reaching record highs. European government bond yields were mixed, and the Eurozone showed moderate inflation. Eurozone PMI data improved slightly, but concerns over early interest rate cuts were raised by ECB’s Holzmann.

Key U.S. stock movers included NetApp, Dell Technologies, and Cooper Cos posting strong earnings and sales. Chip stocks like Marvell Technology and Broadcom rallied on AI demand. Other gainers included Eli Lilly, Everbridge, and Caret Holdings. Losers included Dominion Energy, Xcel Energy, and Zscaler, while casino operators with Macau exposure dropped on weaker casino revenue.

Earnings reports on March 4 included AeroVironment, Akoya Biosciences, Cara Therapeutics, ContextLogic, and others. The overall market outlook remains positive, with strong earnings driving momentum in major indices.



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