Last Updated: 4:23 PM EST
Stock indices finished today’s trading session in the green. The Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) gained %, %, and %, respectively.
This came after Fed Chair Jerome Powell said that the central bank is taking a wait-and-see approach to interest rates due to the economic uncertainty caused by President Trump’s policies. Indeed, Powell said that the Federal Reserve is keeping a close eye on how these policies will impact trade, taxes, government spending, immigration, and regulation.
Separately, recent forecasts from Morgan Stanley (MS) and Goldman Sachs (GS) suggest that the U.S. economy may experience slower growth due to tariffs and a tight labor market. As a result, Morgan Stanley revised its 2025 economic growth forecast down to 1.5%, while Goldman Sachs has cut its 2025 GDP growth forecast to 1.7% and increased its recession probability to 20%.
Nevertheless, the U.S. economy is still showing signs of strength thanks to steady job growth and a low unemployment rate of 4.1%. In fact, employers added 151,000 jobs in February. However, it is worth mentioning that this missed estimates of 159,000 and that consumer spending has slowed down a bit. In addition, business confidence has taken a hit due to the ongoing uncertainty, with the Fed’s beige book mentioning uncertainty 47 times. This was up from 17 times in January.
First Published: 3:55 AM EST
U.S. stock futures climbed early Friday, as investors awaited the release of February Nonfarm Payrolls report for insight about the economy’s health. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.32%, 0.04%, and 0.19%, respectively, at 3:50 a.m. EST, March 7.
This follows a significant sell-off on Thursday, as the S&P 500 and the Nasdaq Composite (NDAQ) saw their steepest declines in months, falling 1.78% and 2.61%, respectively. The Dow Jones also saw a major drop of 0.99%, leading to a near 3% loss for the week.
The market’s sharp decline was due to rising concerns over the Trump administration’s trade policies, which raised fears of an economic slowdown. While the administration delayed tariffs on certain goods from Mexico and Canada, this provided little relief to investors.
The ongoing uncertainty about trade policy decisions and their potential impact on U.S. economic growth has made it challenging for investors to assess the consequences.
In major stock market news, Marvell Technologies (MRVL) shares plunged 20% as its current-quarter outlook missed high expectations. This triggered a ripple effect, dragging down other major tech players, such as Nvidia (NVDA), Broadcom (AVGO), and AMD (AMD). Also, MongoDB (MDB) was down over 26% despite reporting better-than-expected results.
Looking ahead, investors are now focused on the upcoming jobs report, to gain clarity on the economy’s resilience. Currently, economists predict the addition of 170,000 jobs in February, with the unemployment rate remaining steady at 4%. Also, Federal Reserve Chair Jerome Powell will address the 18th annual U.S. Monetary Policy Forum in New York City, later today.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.253%. Simultaneously, WTI crude oil futures are trending higher, hovering near $67.01 per barrel as of the last check.
Elsewhere, European indices opened lower today as investors remained cautious due to ongoing doubts about U.S. trade policies under the Trump administration.
Asia-Pacific Markets Ended Lower on Friday
Asia-Pacific indices were in the red today, reflecting global concerns as investors faced uncertainty over Trump’s shifting tariff policies and awaited the U.S. jobs report.
Notably, Hong Kong’s Hang Seng Index was down 0.57%. Further, Japan’s Nikkei and Topix indices closed lower by 2.17% and 1.56%, respectively. Also, China’s Shenzhen Component and Shanghai Composite indices declined 0.25% and 0.5%, respectively.
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