STOCKS/ECONOMY
-Stock futures are higher after Thursday's 194-point loss for the Dow, larger 1.6 percent selloff for the S&P 500, and a very sharp 2.8 percent fall for the Nasdaq. Investors are taking a pause after Thursday's selloff connected to tariff fears and focusing on inflation news.
-The personal consumption expenditures price index came in as expected with a 0.3 percent increase. Personal income in January increased by 0.9 percent, but personal spending fell by 0.2 percent. Overall, investors are responding to this report positively.
-The yield on the 10-year Treasury bond is at 4.27 percent.
-Gold is at the $2,867 per ounce level. Bitcoin is down to the $80,900 level.
-Asian markets closed sharply lower today in response to President Trump's announcements that new tariffs will go into effect on March 4th. The Hang Seng fell 3.3 percent, the Nikkei sold off by 2.9 percent, and the Shenzhen lost 2.9 percent.
OIL/ENERGY
-U.S. crude prices are down and at the $69 a barrel level.
-Gasoline prices are down to $3.11 a gallon, national average.
AI MANIA
-Nvidia (NVDA) shares are down another 3 percent in the premarket after losing 8 percent Thursday. Investors are reducing their exposure to the AI chipmaking company as worries about an AI bubble rise on Wall Street.
-Dell (DELL) reported weaker than expected quarterly sales despite beating profit forecasts. It also projected that it will make $15 billion in AI server sales this year. Dell shares are down 6 percent in the premarket.
-Facebook parent Meta (META) says it will release a standalone Meta AI app to compete with ChatGPT. Meta shares are flat in the premarket.
GOOGLING THE WANT ADS
-Google is making layoffs in its cloud computing and HR divisions as part of its overall promised cost-cutting efforts. Google parent Alphabet (GOOGL) shares are flat in the premarket.
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