por admin » Mar Feb 28, 2023 7:18 am
Stock futures are little changed as Wall Street braces for final trading day of February: Live updates
Samantha Subin
NEW YORK, NEW YORK - FEBRUARY 14: Traders work on the floor of the New York Stock Exchange (NYSE) on February 14, 2023 in New York City. The Dow was down in morning trading following news that the January consumer price index (CPI) report showed that inflation grew at a 6.4% annual rate, which was slightly higher than expected. (Photo by Spencer Platt/Getty Images)
Traders work on the floor of the New York Stock Exchange (NYSE) on February 14, 2023 in New York City.
Spencer Platt | Getty Images
Stocks futures were little changed Tuesday as investors braced for the final trading day of February.
Futures tied to the Dow Jones Industrial Average rose 31 points, or 0.1%, while S&P 500 and Nasdaq 100 futures also climbed 0.1% each.
Zoom Video popped 6.4% on strong earnings, while Target rose 1.3% after the retailer posted its latest quarterly figures.
The moves followed a positive session for the major averages as Treasury yields eased. The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively.
Tuesday marks the last day of February. Despite a solid start to the year, the major indexes are on pace for their second negative month in three. As of Monday’s close, the Dow is down 3.5% for the month and the only major index negative for the year. Both the S&P 500 and Nasdaq are positive in 2023, but down 2.3% and 1%, respectively, in February.
February “will go down in history as the month where the market pulled back to digest a very strong rally you saw at the end of December into most of January,” said Adam Sarhan, CEO of 50 Park Investments. “This is a pullback month, it’s a rest month, and that’s good as long as support is defended and support holds, which is last week’s low.”
On the economic front, investors also await consumer confidence data, wholesale inventories, Chicago PMI and the S&P Case-Shiller home prices index.