NASDAQ Futures Fall After Thursday Record


Stock futures edged lower Friday after the market wrapped up its fourth winning month and the tech-heavy NASDAQ Composite reached its first closing record since November 2021.

Futures for the Dow Jones Industrials faltered 23 points, or 0.1%, to 39.020.

Futures for the S&P 500 leaned higher one point to 5,104.75.

Futures for the NASDAQ advanced 21.5 points, or 0.1%, to 18,104.25.

Major averages ended another positive month as the rally driven by an artificial intelligence boom and hopes for rate cuts chugged along. The tech-heavy NASDAQ was the best performer in February with a 6.1% gain. The S&P 500 climbed 5.2%, while the Dow added 2.2% for its first four-month winning streak since May 2021.

On a weekly basis, the S&P 500 is tracking for a roughly 0.2% advance, while the Nasdaq is up 0.6%. The 30-stock Dow is the laggard, down nearly 0.4%.

Troubled regional bank New York Community Bancorp shed a whopping 29% in premarket trading after the lender announced a leadership change and disclosed issues with its internal controls. The bank is already down more than 50% in 2024.

Bitcoin pulled off a fierce rally in February, up nearly 45% to top $62,000. It’s the token’s best month since December 2020 as well as its sixth-straight monthly gain.

In Japan, the Nikkei 225 hiked 1.9% Friday, while in Hong Kong, the Hang Seng index took on 0.5%.

Oil prices improved $1.30 to $79.56 U.S. a barrel.

Gold prices shone brighter by $5.20 to $2,058.90 U.S. an ounce.



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