"US Stocks See Mixed Trading Amid Trade Tensions and Economic Data"

As of February 28, 2025, the US stock market is experiencing a mixed day after a tumultuous week. Here’s a brief update:The S&P 500 index is up by 0.6 percent, or about 35 points, in morning trading, slightly trimming its losses for the month which had been on track to be its worst since April. The Dow Jones Industrial Average rose by 243 points, or 0.6 percent, to around 43,482. The Nasdaq composite is 0.7 percent higher, recovering some of the ground lost in the previous session.Key factors driving today's market direction include concerns over President Donald Trump’s fresh tariff threats on Canada, Mexico, and China, which were announced on Thursday. These threats have heightened fears of a potential global trade war and have particularly impacted tech stocks. Despite NVIDIA Corporation beating earnings estimates, its shares plummeted 8.5 percent on Thursday due to a weak quarterly forecast for gross margin, affecting other chipmakers like Broadcom Inc. and Advanced Micro Devices Inc.Notable sector performance shows that tech stocks, utilities, and consumer discretionary stocks were among the worst performers on Thursday. The Technology Select Sector SPDR declined by 3.6 percent, while the Consumer Discretionary Select Sector SPDR dropped by 1.4 percent, and the Utilities Select Sector SPDR slid by 2.2 percent.Among the most actively traded stocks, NVIDIA Corporation saw significant movement after its earnings report. The biggest percentage losers on Thursday included tech stocks, with NVIDIA leading the decline.Significant market-moving news events include the tariff threats by President Trump and the release of economic data. The Labor Department reported an increase in jobless claims, with 242,000 claims for the week ending February 22, up from the previous week’s revised level. The US GDP grew 2.3 percent in the fourth quarter of 2024, matching initial estimates.Looking forward, pre-market futures indicate a cautious start to the next trading day. Key events to watch for tomorrow include the release of the personal consumption expenditure (PCE) inflation report, which is the Federal Reserve’s most favored inflation gauge. This report could significantly impact market sentiment and the potential for future interest rate decisions.Important upcoming earnings releases and potential market catalysts will continue to be monitored, especially in the tech sector, which has been volatile due to economic and geopolitical concerns.This content was created in partnership and with the help of Artificial Intelligence AI