On Friday, February 28, U.S. markets closed higher after a volatile session, with tech stocks rising despite a dip in Dell. A heated exchange between President Donald Trump and Ukraine President Volodymyr Zelenskiy at the White House added uncertainty over Ukraine, briefly unsettling markets.
Meanwhile, inflation data met expectations, but weak consumer spending fueled concerns about stagflation and Federal Reserve policy. The Federal Reserve’s key inflation measure slowed in January, with headline PCE rising 2.5% year-over-year, down from 2.6% in December, while core PCE increased 2.6%. Monthly PCE inflation rose 0.3%, and personal income surged 0.9%, exceeding forecasts. Food prices climbed 0.3%, energy costs eased, and the personal savings rate increased to 4.6%.
All 11 S&P 500 sectors ended higher, with information technology, financials, and consumer discretionary stocks leading the gains.
The Dow Jones Industrial Average rose 1.39% to close at 43,840.91, the S&P 500 gained 1.59% to 5,954.50, and the Nasdaq Composite was up 1.63% to 18,847.28.
Asia Markets Today
- On Monday, Japan’s Nikkei 225 gained 1.81% to 37,823.50, led by gains in the Mining, Gas & Water and Insurance sectors.
- Australia’s S&P/ASX 200 rose 0.90%, closing at 8,245.70, led by gains in the Energy, IT and Resources sectors.
- India’s Nifty 50 was up 0.08% to 22,143.15, and the Nifty 500 gained 0.14% to 19,909.15. Gains in the Capital Goods, Power, and Consumer Durables sectors led shares higher, while losses in the Fast-Moving Consumer Goods, Healthcare, and Oil and Gas sectors led shares lower.
- China’s Shanghai Composite slipped 0.12% to 3,316.93, and the Shanghai Shenzhen CSI 300 fell 0.04% to 3,888.47.
- Hong Kong’s Hang Seng gained 0.28%, ending the session at 23,006.27.
Eurozone at 05:30 AM ET
- The European STOXX 50 was up 0.65%.
- Germany’s DAX gained 1.32%.
- France’s CAC rose 0.70%.
- U.K.’s FTSE 100 index traded higher by 0.53%
- European shares neared record highs Monday as defense stocks surged on increased military spending plans.
Commodities at 05:30 AM ET
- Crude Oil WTI was trading lower by 0.10% at $69.69/bbl, and Brent was down 0.01% at $72.80/bbl.
- Oil prices edged higher Monday as strong Chinese manufacturing data boosted demand optimism--however, concerns over U.S. tariffs, a Ukraine peace deal, and global economic uncertainty limited gains.
- Natural Gas gained 0.10% to $3.838.
- Gold was trading higher by 1.17% at $2,882.00, Silver was up 1.62% to $32.008, and Copper rose 0.96% to $4.5915.
U.S. Futures at 05:30 AM ET
- Dow futures were up 0.15%, S&P 500 futures gained 0.37%, and Nasdaq 100 futures rose 0.33%.
- U.S. stock futures edged higher Monday after sharp monthly losses, with investors cautious ahead of new tariffs and key economic data. February saw significant declines due to tariff concerns and tech volatility.
Forex at 05:30 AM ET
- The U.S. Dollar Index slipped 0.48% to 107.09, USD/JPY was up 0.09% to 150.85, and USD/AUD fell 0.11% to 1.6074.
- The U.S. dollar retreated Monday as European leaders pushed for a Ukraine-Russia peace deal, boosting the euro. The dollar also eased amid uncertainty over tariffs on Canada and Mexico.
Photo by Pavel Bobrovskiy via Shutterstock
