[ad_1]
U.S. stock futures were volatile on Friday, losing momentum as the sense of relief sparked by an influential inflation measure waned after a month of record gains and big selloffs.
S&P 500 (^GSPC) futures were little changed, posting a record close for the benchmark and its best February in nearly a decade. Futures for the Dow Jones Industrial Average (^DJI) and the tech-heavy Nasdaq 100 Index (^NDX) also fluctuated around the flatline.
Stocks have started March in a subdued mood, with concerns that the Federal Reserve will have more reason to hold off on cutting interest rates, a turn from an upbeat reaction to PCE data that showed continued cooling in inflation. It’s soothing. But further scrutiny highlights signs of “sticky” inflation, which will be difficult to reverse.
Among the big stocks, New York Community Bancorp (NYCB)’s stock price plummeted by 20% before the market following the departure of its CEO, a quarterly loss of $2.7 billion, and the discovery of “material weaknesses” in the bank’s lending process. % fell. Meanwhile, Dell stock rose about 25% after the company’s AI for servers outlook beat quarterly sales and profits.
OpenAI’s development has caught the attention of investors tracking the sector. Elon Musk has sued the Microsoft-backed company (MSFT) and its CEO Sam Altman for breach of contract. The ChatGPT maker also reportedly plans to name new directors in March to break the impasse related to Altman’s abrupt firing last year.
[ad_2]
Source link
