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Traders gather on the floor of the New York Stock Exchange on August 4, 2022.
Source: New York Stock Exchange
Stock futures were little changed in overnight trading Thursday after the market completed its fourth winning month and the tech-heavy Nasdaq Composite Index hit its first record closing price since November 2021.
futures of Dow Jones Industrial Average He dropped 12 points. S&P500 futures It was flat and Nasdaq 100 futures It fell by 0.1%.
Local banks in trouble new york community bancorp Shares fell a whopping 20% in after-hours trading after the lender announced management changes and disclosed internal control issues. The bank is already down more than 50% in 2024.
The major averages ended the month on another positive note, boosted by the artificial intelligence boom and expectations for rate cuts. The Nasdaq was the best performer in February, rising 6.1%.of S&P500 Although it increased by 5.2%, Dow It added 2.2%, marking its first four-month winning streak since May 2021.
“We remain firmly in the disinflation camp and believe the Fed will be forced to cut rates by June,” Adam Crisafulli, founder of Vital Knowledge, said in a note.
Thursday’s rise came after inflation data showed the Federal Reserve’s recommended measure, the Personal Consumption Expenditure Price Index, which excludes food and energy, rose 0.4% in January, in line with expectations. Rose.
Bitcoin saw a wild rally in February, rising nearly 45% to above $62,000. This was the token’s best month since December 2020 and the sixth consecutive month of gains.
On a weekly basis, the S&P 500 is up about 0.2% and the Nasdaq is up 0.6%. The Dow Jones Industrial Average was a laggard, dropping nearly 0.4%.
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