Last Updated: 4:04 PM EST
Stock indices finished today’s trading session in the red after Trump confirmed that tariffs on Canada and Mexico will proceed as planned. As a result, the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) fell 2.75%, 1.59%, and 0.45%, respectively.
Separately, the U.S. housing market got off to a slow start in 2025, with a key measure of home contract signings hitting an all-time low in January. The National Association of Realtors’ (NAR) Pending Home Sales Index dropped 4.6% from December to 70.6. This decline was likely due to a combination of cold weather, unaffordable prices, and higher mortgage rates.
Regionally, pending sales fell month-over-month in all areas except the Northeast, which saw a slight 0.3% gain. However, the South experienced the steepest decline, with activity sinking 9.2% from December. Compared to January 2024, contract activity was down in all regions, with the Northeast seeing the smallest contraction and the South experiencing the largest.
According to Lawrence Yun, the NAR’s chief economist, higher mortgage rates and limited inventory likely kept buyers away in January. With mortgage rates stuck in the 6.9% to 7% range, it was harder for buyers to enter the market. However, Yun notes that the upcoming months may see greater sales activity as the weather warms up and more homes become available.
First Published: 3:09 AM EST
U.S. stock futures were slightly higher on Thursday morning, as investors evaluated Nvidia’s (NVDA) latest earnings report. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.55%, 0.22%, and 0.47%, respectively, at 3:00 a.m. EST, February 27.
On Wednesday’s regular trading session, the stock market witnessed a mixed performance. The S&P 500 and the Nasdaq Composite (NDAQ) broke their four-day losing streak with gains of 0.01% and 0.3%, respectively, while the Dow Jones was down 0.4%.
In after-hours trading, Nvidia stock dipped 1.5% despite beating estimates for both sales and earnings in the fourth quarter and providing strong guidance. Importantly, the company’s 78% year-over-year revenue growth, driven by strong demand for its GPUs in the AI sector, was already priced into the stock.
This volatility was caused by renewed trade concerns due to U.S. President Donald Trump’s plans to impose tariffs on European cars and soon on goods from Mexico and Canada.
Looking ahead, several key economic reports are due for release today, such as Initial Jobless Claims and a second estimate of Gross Domestic Product (GDP) growth for the fourth quarter. Further, earnings reports are expected from SoundHound AI (SOUN), Rocket Lab (RKLB), Bath & Body Works (BBWI), Vistra Energy (VST), Warner Bros. Discovery (WBD), and Dell Technologies (DELL) later today.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.279%. Simultaneously, WTI crude oil futures are trending higher, hovering near $68.72 per barrel as of the last check.
Elsewhere, European indices opened lower on Thursday due to Trump’s tariff threats on imports from the European Union. Also, investors look forward to several earnings scheduled for release today.
Asia-Pacific Markets Traded Mixed on Thursday
Asia-Pacific indices were mixed today after Nvidia’s Q4 earnings report failed to impress investors. Also, Trump’s proposed 25% “reciprocal” tariffs on European autos affected market sentiment.
Notably, Hong Kong’s Hang Seng Index was down 0.31%. Further, China’s Shenzhen Component index declined 0.26%, while the Shanghai Composite index was up 0.23%. At the same time, Japan’s Nikkei and Topix indices closed higher by 0.3% and 0.73%, respectively.
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