Stock indexes decline as tensions rise, mixed economic reports and speculation on rate cuts

From Nasdaq: 2025-02-28 13:39:44

Stock indexes saw a slight decline today, with the S&P 500 down -0.17%, Dow Jones down -0.09%, and Nasdaq 100 down -0.22%. Early support waned after a contentious White House meeting. US Jan core PCE index met expectations, but Jan personal spending unexpectedly fell. Markets are wary of President Trump’s tariff threats.

The Jan core PCE index rose +2.6% y/y, signaling potential rate cuts. Chip stocks rebounded, aiding the Nasdaq 100 recovery. Jan personal spending dipped, while personal income surged. Feb MNI Chicago PMI exceeded expectations. The market is speculating on a -25 bp rate cut at the next FOMC meeting. Overseas markets are also showing weakness.

Interest rates are up, with March 10-year T-notes climbing. European bond yields are down. ECB Jan CPI expectations eased. German retail sales rose, while CPI exceeded expectations. Swaps predict a rate cut by the ECB. US stock movers included AES Corp, Marvell Technology, and Intel leading gains. Monster Beverage also saw a rise.

In the losers’ column, Acadia Healthcare and NetApp faced declines. Edison International and Rocket Cos. saw gains. Elastic NV and Entegris also showed positive movements. Earnings reports from Apellis Pharmaceuticals Inc and New Fortress Energy Inc were noted. The market remains cautious amid economic and political uncertainties.



Read more at Nasdaq: Stocks Turn Lower as Traders Eye Trump-Zelenskyy Tensions