Dow, S&P 500, Nasdaq futures rise ahead of key inflation data, as tariff risks loom

February 28, 2025

2 minutes read

US stock futures edged higher on Friday in the wait for a key inflation reading, as fresh tariff threats added to uncertainty over Big Tech prospects.

Contracts on the S&P 500 (^GSPC) and the tech-heavy Nasdaq 100 (NQ=F) both rose about 0.3%, after suffering a Nvidia-led (NVDA) sell-off on Thursday. Dow Jones Industrial Average futures (YM=F) also added 0.3%.

The countdown is on to the January reading of Personal Consumption Expenditures index after recent data revived concerns about a slowdown in the economy. Annual “core” PCE — which strips out food and energy prices — is the Federal Reserve’s preferred gauge of inflation, is expected to cool to 2.6% and should set expectations for interest-rate cuts.

CME – Delayed Quote USD

As of 6:16:43 AM EST. Market Open.

ES=F YM=F NQ=F

Meanwhile, investors tiring of President Trump’s fast-paced trade policy overhaul had to grapple with fresh tensions, after China vowed to respond with “all necessary measures”. Beijing’s threat came after Trump said an extra 10% tariff on Chinese imports would take hold on Tuesday. He has also pledged to follow through on new duties on Mexico and Canada, and to impose tariffs on the EU.

The sell-off in bitcoin (BTC-USD) deepened as the token sank 7% to its lowest level since November. The cryptocurrency has dropped 25% from its record high amid a broader crypto rout.

On the earnings front, Dell’s (DELL) stock slipped 2% as its results late Thursday fanned concerns about higher AI server costs. Shares in hardware maker HP (HPQ) dropped 3% even as its earnings met expectations.

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Bloomberg reports:

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Bitcoin has slid from an all-time high six weeks ago to the cryptocurrency’s lowest trading point in months. Insecurity around President Donald Trump’s tariff plans has pulled faith in the asset down alongside the worlds largest cryptocurrency hack causing investors to seek safe haven commodities.

Reuters reports:

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