Stock market today: Dow, S&P 500, Nasdaq rally to cap volatile week, losing month
Yahoo28-02-2025
A volatile trading day ended with a win for all the major gauges Friday, while a geopolitical drama played out in the White House and unease over Trump's tariff threats permeated through a wider set of economic data.
The S&P 500 (^GSPC) gained 1.6%%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 1.5% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) climbed 1.3%. All three major averages reversed earlier losses, sending February off with a relief rally.
Markets wrapped the month of February with sharp weekly and monthly losses after suffering a buffets of tariff moves. The Nasdaq shed close to 5% in February, while the S&P 500 and Dow suffered drops of around 2%.
The January reading of Personal Consumption Expenditures index (PCE) did its part to soothe some anxiety on Wall Street about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations.
But consumer spending fell 0.2% last month, the data showed. That undershot economist forecasts of a 0.1% rise and compared with a gain of 0.8% in December.
Friday afternoon also set the stage for a heated exchange between President Donald Trump, Vice President JD Vance and Ukrainian President Volodymyr Zelensky. At a meeting in the Oval Office, while the cameras were rolling, the American leaders called Zelensky "disrespectful" and chastised him for not being thankful enough for US support in its armed conflict with Russia.
Meanwhile, investors reeling from Trump's fast-paced trade policy overhaul had to grapple with fresh tensions after China vowed to respond with "all necessary measures." Beijing's threat came after Trump said an extra 10% tariff on Chinese imports would take hold on Tuesday. He has also pledged to follow through on new duties on Mexico and Canada, and to impose tariffs on the EU.
Also, the sell-off in bitcoin (BTC-USD) deepened as the token sank 7% to its lowest level since November. The cryptocurrency has dropped 25% from its record high amid a broader crypto rout.
A geopolitical drama playing out in the White House coincided with a volatile trading day Friday, capping a losing month for Wall Street and leaving investors with unease over Trump's tariff threats, set to be implemented next week.
The S&P 500 (^GSPC) gained 1.6%%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 1.5% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) climbed 1.3%. All three major averages reversed earlier losses, sending February off with a relief rally.
Markets wrapped the month February with sharp weekly and monthly losses after suffering the buffets of tariff moves. The Nasdaq shed close to 5% in February, while the S&P 500 and Dow suffered drops of around 2%.
Meanwhile, an economic deal between the US and Ukraine was left in limbo, after a heated shouting match between President Trump and resident Volodymyr Zelensky in the Oval Office left the negotiations unresolved.
The price of bitcoin (BTC-USD) dropped as much as 7% on Friday to $78,495 as investors digested rising fears of a recession and the looming tariffs by the Trump administration.
The drop puts bitcoin down nearly 20% over the past month — its worst monthly performance since June 2022, Yahoo Finance's Laura Bratton reports.
Bitcoin has now fallen by around 17% in February. The asset has shed a stunning 23% since hitting a record high of more than $109,000 on the day after Trump's inauguration.
Nic Puckrin, financial analyst and founder of the Coin Bureau, said in an email to Yahoo Finance earlier this week that the "sharp sell-off in crypto on renewed tariff fears shows that Bitcoin, and even altcoins, are now entirely driven by politics."
Read more about bitcoin's downturn here.
The 'Magnificent 7' group were on track to snap a 6-day streak of declines on Friday, but those gains were not enough to avoid steep losses for the week following a Tech sell-off on Wall Street.
Nvidia (NVDA) stock rebounded more than 1% in afternoon trading. However shares were on pace to close down more than 9% for the past five days after the AI chip giant's quarterly results failed to wow investors.
Tesla (TSLA) shares also rallied on Friday, but were also on track to lose 13% for the week as the 'Trump trade' continues to unwind. Shares of the EV giant are down roughly 27% year-to-date.
Alphabet (GOOG,GOOGL), Meta (META), Apple (AAPL) and Amazon (AMZN) were all set to close out the week lower as investors assessed President Trump's tariff plans and the potential impact those could have on the economy.
A visit meant to cement a US security deal with Ukraine devolved into a heated on-camera argument between President Trump, Vice President JD Vance, and Ukraine President Volodymyr Zelensky, as the two American leaders criticized Zelensky for not being thankful enough for US support and pushed him to accept their terms for a resolution.
As the cameras rolled, both Trump and Vance raised their voices at times and spoke over Zelensky, who appeared to keep his cool but also didn't seem to advance his cause as the American leaders continued to air their grievances.
Following the televised conflict, Trump posted on Truth Social that "Zelenskyy is not ready for Peace if America is involved." He added that Zelensky "disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace."
The Atlanta Fed's running estimate of real GDP growth showed a reading of -1.5% Friday, a sharp decrease from earlier readings and the latest warning sign of an economic slowdown amid President Trump's tariff battle.
While the reading is not an official forecast, it nonetheless offered a striking data point even as other models continue to show positive growth for the current quarter.
The GDPNow model previously showed a reading of 2.3% earlier this week and recorded a measurement of 3.9% earlier this month.
Here are some of the stocks leading Yahoo Finance's trending tickers page during afternoon trading on Friday:
Palantir (PLTR): The data analytics company dropped 3% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
Rocket Lab (RKLB): Shares of the aerospace manufacturer fell 0.6% Friday afternoon following a disappointing first quarter revenue forecast and the delay of the launch of its Neutron rocket to the second half of the year.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back after getting knocked down this week in a broad crypto rout. Shares rose about 3% as of the afternoon. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Autodesk (ADSK): The software company beat expectations on the top and bottom lines but investors still pulled back, even as the company announced plans to focus on profitability, including a cut of more than 1,300 jobs. The restructuring plan would impact about 9% of the company's workforce.
Wall Street is looking to put a rough month of trading to rest as the afternoon session is poised to end with some positive momentum, even as the major averages are set to record a losing month.
The S&P 500 (^GSPC) climbed 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) rose about 0.7% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.6%.
The uptick Friday followed a key inflation reading that largely met expectations, providing some relief to investors. But Trump's renewed tariff threats have added to global economic uncertainty.
Trump said an extra 10% tariff on Chinese imports would take hold next week. And he said he would follow through on new duties on Mexico and Canada and would impose tariffs on the EU.
A fresh reading showing a drop in consumer spending added to a wave of concerning data suggesting that Americans are anxious about coming tariffs and the potential price hikes that could follow.
American consumers cut their spending by 0.2% in January, compared to the prior month, according to data published by the Commerce Department Friday.
While the data also showed that inflation cooled, the president's plans to impose tariffs on Mexico and China next week could push prices higher, economists and business leaders say.
"Softer consumer spending and slower income growth should catch the Fed's attention," said Jeffrey Roach, Chief Economist for LPL Financial. "Despite the deceleration in the annual pace of inflation, the monthly rate is still running hotter than the Fed would like."
The spending data follows two recent consumer sentiment surveys that highlighted a souring outlook among Americans.
Here are some of the stocks leading Yahoo Finance's trending tickers page during morning trading on Friday:
Dell (DELL): Shares of the technology company fell 6% Friday morning following a mixed revenue outlook for the current quarter. Dell reported quarterly results Thursday with sales that missed analysts' estimates but logged earnings that beat Wall Street expectations.
Palantir (PLTR): The data analytics company dropped 1% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
HP (HP): The legacy IT company fell 6% Friday as it expects President Trump's tariff policies around China to weigh on the profit outlook for the second quarter and full-year 2025. As the computer company reported earnings on Thursday, it also said up to 2,000 more employees would be laid off as part of a cost-savings plan.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back in morning trading after getting knocked down this week in a broad crypto rout. Shares rose about 5%. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Redfin stock (RDFN) tumbled 13% on Friday after the online real estate company reported fourth quarter earnings that fell short of Wall Street's expectations and provided a discouraging outlook.
The company posted a net loss of $0.29 for each share of common stock, worse than the $0.23 loss per share analysts expected. The revenue guidance for the next quarter, in a range of $214 million to $225 million, also didn't impress, coming below analysts' estimates of $244.4 million.
This is a mixed report, and the outlook "was below on revenue and especially so on EBITDA," which 'is critical as Redfin has been keenly focused on reaching profitability since 2023 and not yet consistently reached,' Citi's Ygal Arounian wrote in a note to clients after the company's earnings.
CEO Glenn Kelman remains optimistic despite ongoing housing challenges, expecting higher profits from the rental partnership with Zillow.
'One reason Redfin is focused on gaining market shares [is that] home sales are unlikely to significantly recover in 2025,' Kelman told analysts and investors on Thursday's earnings call.
Stocks are pretty upbeat as they kick off the last trading day of February, with the major gauges — even the Nasdaq — all holding nicely in the green.
But weeks of President Trump's tariff battering ram and confidence-cracking economic data have taken a toll. All sorts of assets look bruised when it comes to monthly performance.
Here is where those markets are historically headed in the early going:
On the plus side, Consumer Staples stocks look to be the biggest February winner in sectors.
Organic egg giant Vital Farms (VITL) told investors on Thursday that the bird flu ripping through US farms right now will keep pressure on supply to start the year, but that shortages should ease later in 2025.
"Industry supply will remain under pressure to start the year due to the impact of HPAI on poultry flocks across the United States," Vital Farms CEO Russell Diez-Canseco said in a release.
"We have experienced supply constraints to start the year. However, as the year progresses, we believe the supply chain investments we made in 2024 and into 2025 will begin bearing fruit."
In its fourth quarter ended Dec. 29, the company reported revenue rose 22.2% to $166 million. For the full-year, revenues tallied $606 million. The company expects full-year 2025 revenues to be "at least" $740 million.
Shares were up as much as 5% early Friday. The stock has lost about 13% so far this year but is up close to 90% over the last 12 months.
Egg shortages and a surge in egg prices have been one of the biggest economic stories for consumers to start 2025. In January, the average price of a dozen eggs in the US hit a record $4.95, up 15.2% over the prior month and 53% from the same month last year.
And as politicians, economists, and investors learned vividly during the post-pandemic inflation boom, consumers dislike many things about inflation, but nothing stings quite like spiking grocery prices.
Especially for a household staple like eggs.
The Fed's preferred inflation gauge met estimates Friday with a reading that showed prices rose in January but cooled on an annual basis.
The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs, rose 0.3% in January, Yahoo Finance's Jennifer Schonberger reports.
On an annual basis, core prices rose 2.6%, which was in line with expectations and down from the 2.9% year-over-year increase in December.
The PCE data should keep interest rates on hold when the central bank holds its next meeting on March 18-19. Friday's reading is expected to offer Fed officials solace after the January CPI data caused many policymakers to question whether the hotter-than-expected reading was a blip or a new trend.
Read more here.
An inflation reading that served to calm anxieties over pricing pressures did little to boost US stocks Friday, as the print met expectations but arrived amid fresh tariff threats, which added to uncertainty over Big Tech prospects.
The S&P 500 (^GSPC) rose just over the flat line, while the tech-heavy Nasdaq Composite (^IXIC) was up about 0.5% after suffering an Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.2%.
The January reading of Personal Consumption Expenditures index did its part to soothe some anxiety after recent data revived concerns about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations.
The benchmark 10-year Treasury yield (^TNX) fell to a 2025 low this week, which, in theory, should have boosted the stock market, as bond returns appear less attractive and lower borrowing rates often lift earnings.
Instead, the market has stalled, with the S&P 500 (^GSPC) returning a meager 0.3% gain year to date.
Yahoo Finance's Allie Canal explains:
Read more here.
Yahoo Finance's Brian Sozzi writes:
Read more about why Palantir stock has sold off here.
Tesla (TSLA) shares have tumbled 30% this year and have wiped out nearly all of their post-Trump election gains. The stock is trading steady in premarket, following its 3% drop in Thursday's tech sell-off.
Several factors are helping drive the retreat. Yahoo Finance's Pras Subramanian reports:
Read more here.
A fresh look at a key inflation measure will come with the January PCE release, expected at 8:30 a.m. ET on Friday.
Yahoo Finance's Josh Schafer reports:
Read more here.
Economic data: PCE inflation (January); MNI Chicago PMI (February)
Earnings: fuboTV (FUBO)
Here are some of the biggest stories you may have missed overnight and early this morning:
Elon Musk is putting his investors' faith to the test
Nvidia CEO: Our auto business doubled — and it's just the start
Retail giants face growing pushback over retreat from DEI
Bitcoin down 25% from all-time high as crypto rout worsens
Gold on track for worst week this year as investors book profits
Steep drop in credit scores hits student loan borrowers
Tencent fires up AI race with model it says outdoes DeepSeek
Gold (GC=F) prices are falling as a rising dollar (DX-Y.NYB) dents appetite for the precious metal.
Bloomberg reports:
Read more here.
A geopolitical drama playing out in the White House coincided with a volatile trading day Friday, capping a losing month for Wall Street and leaving investors with unease over Trump's tariff threats, set to be implemented next week.
The S&P 500 (^GSPC) gained 1.6%%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 1.5% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) climbed 1.3%. All three major averages reversed earlier losses, sending February off with a relief rally.
Markets wrapped the month February with sharp weekly and monthly losses after suffering the buffets of tariff moves. The Nasdaq shed close to 5% in February, while the S&P 500 and Dow suffered drops of around 2%.
Meanwhile, an economic deal between the US and Ukraine was left in limbo, after a heated shouting match between President Trump and resident Volodymyr Zelensky in the Oval Office left the negotiations unresolved.
The price of bitcoin (BTC-USD) dropped as much as 7% on Friday to $78,495 as investors digested rising fears of a recession and the looming tariffs by the Trump administration.
The drop puts bitcoin down nearly 20% over the past month — its worst monthly performance since June 2022, Yahoo Finance's Laura Bratton reports.
Bitcoin has now fallen by around 17% in February. The asset has shed a stunning 23% since hitting a record high of more than $109,000 on the day after Trump's inauguration.
Nic Puckrin, financial analyst and founder of the Coin Bureau, said in an email to Yahoo Finance earlier this week that the "sharp sell-off in crypto on renewed tariff fears shows that Bitcoin, and even altcoins, are now entirely driven by politics."
Read more about bitcoin's downturn here.
The 'Magnificent 7' group were on track to snap a 6-day streak of declines on Friday, but those gains were not enough to avoid steep losses for the week following a Tech sell-off on Wall Street.
Nvidia (NVDA) stock rebounded more than 1% in afternoon trading. However shares were on pace to close down more than 9% for the past five days after the AI chip giant's quarterly results failed to wow investors.
Tesla (TSLA) shares also rallied on Friday, but were also on track to lose 13% for the week as the 'Trump trade' continues to unwind. Shares of the EV giant are down roughly 27% year-to-date.
Alphabet (GOOG,GOOGL), Meta (META), Apple (AAPL) and Amazon (AMZN) were all set to close out the week lower as investors assessed President Trump's tariff plans and the potential impact those could have on the economy.
A visit meant to cement a US security deal with Ukraine devolved into a heated on-camera argument between President Trump, Vice President JD Vance, and Ukraine President Volodymyr Zelensky, as the two American leaders criticized Zelensky for not being thankful enough for US support and pushed him to accept their terms for a resolution.
As the cameras rolled, both Trump and Vance raised their voices at times and spoke over Zelensky, who appeared to keep his cool but also didn't seem to advance his cause as the American leaders continued to air their grievances.
Following the televised conflict, Trump posted on Truth Social that "Zelenskyy is not ready for Peace if America is involved." He added that Zelensky "disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace."
The Atlanta Fed's running estimate of real GDP growth showed a reading of -1.5% Friday, a sharp decrease from earlier readings and the latest warning sign of an economic slowdown amid President Trump's tariff battle.
While the reading is not an official forecast, it nonetheless offered a striking data point even as other models continue to show positive growth for the current quarter.
The GDPNow model previously showed a reading of 2.3% earlier this week and recorded a measurement of 3.9% earlier this month.
Here are some of the stocks leading Yahoo Finance's trending tickers page during afternoon trading on Friday:
Palantir (PLTR): The data analytics company dropped 3% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
Rocket Lab (RKLB): Shares of the aerospace manufacturer fell 0.6% Friday afternoon following a disappointing first quarter revenue forecast and the delay of the launch of its Neutron rocket to the second half of the year.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back after getting knocked down this week in a broad crypto rout. Shares rose about 3% as of the afternoon. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Autodesk (ADSK): The software company beat expectations on the top and bottom lines but investors still pulled back, even as the company announced plans to focus on profitability, including a cut of more than 1,300 jobs. The restructuring plan would impact about 9% of the company's workforce.
Wall Street is looking to put a rough month of trading to rest as the afternoon session is poised to end with some positive momentum, even as the major averages are set to record a losing month.
The S&P 500 (^GSPC) climbed 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) rose about 0.7% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.6%.
The uptick Friday followed a key inflation reading that largely met expectations, providing some relief to investors. But Trump's renewed tariff threats have added to global economic uncertainty.
Trump said an extra 10% tariff on Chinese imports would take hold next week. And he said he would follow through on new duties on Mexico and Canada and would impose tariffs on the EU.
A fresh reading showing a drop in consumer spending added to a wave of concerning data suggesting that Americans are anxious about coming tariffs and the potential price hikes that could follow.
American consumers cut their spending by 0.2% in January, compared to the prior month, according to data published by the Commerce Department Friday.
While the data also showed that inflation cooled, the president's plans to impose tariffs on Mexico and China next week could push prices higher, economists and business leaders say.
"Softer consumer spending and slower income growth should catch the Fed's attention," said Jeffrey Roach, Chief Economist for LPL Financial. "Despite the deceleration in the annual pace of inflation, the monthly rate is still running hotter than the Fed would like."
The spending data follows two recent consumer sentiment surveys that highlighted a souring outlook among Americans.
Here are some of the stocks leading Yahoo Finance's trending tickers page during morning trading on Friday:
Dell (DELL): Shares of the technology company fell 6% Friday morning following a mixed revenue outlook for the current quarter. Dell reported quarterly results Thursday with sales that missed analysts' estimates but logged earnings that beat Wall Street expectations.
Palantir (PLTR): The data analytics company dropped 1% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
HP (HP): The legacy IT company fell 6% Friday as it expects President Trump's tariff policies around China to weigh on the profit outlook for the second quarter and full-year 2025. As the computer company reported earnings on Thursday, it also said up to 2,000 more employees would be laid off as part of a cost-savings plan.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back in morning trading after getting knocked down this week in a broad crypto rout. Shares rose about 5%. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Redfin stock (RDFN) tumbled 13% on Friday after the online real estate company reported fourth quarter earnings that fell short of Wall Street's expectations and provided a discouraging outlook.
The company posted a net loss of $0.29 for each share of common stock, worse than the $0.23 loss per share analysts expected. The revenue guidance for the next quarter, in a range of $214 million to $225 million, also didn't impress, coming below analysts' estimates of $244.4 million.
This is a mixed report, and the outlook "was below on revenue and especially so on EBITDA," which 'is critical as Redfin has been keenly focused on reaching profitability since 2023 and not yet consistently reached,' Citi's Ygal Arounian wrote in a note to clients after the company's earnings.
CEO Glenn Kelman remains optimistic despite ongoing housing challenges, expecting higher profits from the rental partnership with Zillow.
'One reason Redfin is focused on gaining market shares [is that] home sales are unlikely to significantly recover in 2025,' Kelman told analysts and investors on Thursday's earnings call.
Stocks are pretty upbeat as they kick off the last trading day of February, with the major gauges — even the Nasdaq — all holding nicely in the green.
But weeks of President Trump's tariff battering ram and confidence-cracking economic data have taken a toll. All sorts of assets look bruised when it comes to monthly performance.
Here is where those markets are historically headed in the early going:
On the plus side, Consumer Staples stocks look to be the biggest February winner in sectors.
Organic egg giant Vital Farms (VITL) told investors on Thursday that the bird flu ripping through US farms right now will keep pressure on supply to start the year, but that shortages should ease later in 2025.
"Industry supply will remain under pressure to start the year due to the impact of HPAI on poultry flocks across the United States," Vital Farms CEO Russell Diez-Canseco said in a release.
"We have experienced supply constraints to start the year. However, as the year progresses, we believe the supply chain investments we made in 2024 and into 2025 will begin bearing fruit."
In its fourth quarter ended Dec. 29, the company reported revenue rose 22.2% to $166 million. For the full-year, revenues tallied $606 million. The company expects full-year 2025 revenues to be "at least" $740 million.
Shares were up as much as 5% early Friday. The stock has lost about 13% so far this year but is up close to 90% over the last 12 months.
Egg shortages and a surge in egg prices have been one of the biggest economic stories for consumers to start 2025. In January, the average price of a dozen eggs in the US hit a record $4.95, up 15.2% over the prior month and 53% from the same month last year.
And as politicians, economists, and investors learned vividly during the post-pandemic inflation boom, consumers dislike many things about inflation, but nothing stings quite like spiking grocery prices.
Especially for a household staple like eggs.
The Fed's preferred inflation gauge met estimates Friday with a reading that showed prices rose in January but cooled on an annual basis.
The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs, rose 0.3% in January, Yahoo Finance's Jennifer Schonberger reports.
On an annual basis, core prices rose 2.6%, which was in line with expectations and down from the 2.9% year-over-year increase in December.
The PCE data should keep interest rates on hold when the central bank holds its next meeting on March 18-19. Friday's reading is expected to offer Fed officials solace after the January CPI data caused many policymakers to question whether the hotter-than-expected reading was a blip or a new trend.
Read more here.
An inflation reading that served to calm anxieties over pricing pressures did little to boost US stocks Friday, as the print met expectations but arrived amid fresh tariff threats, which added to uncertainty over Big Tech prospects.
The S&P 500 (^GSPC) rose just over the flat line, while the tech-heavy Nasdaq Composite (^IXIC) was up about 0.5% after suffering an Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.2%.
The January reading of Personal Consumption Expenditures index did its part to soothe some anxiety after recent data revived concerns about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations.
The benchmark 10-year Treasury yield (^TNX) fell to a 2025 low this week, which, in theory, should have boosted the stock market, as bond returns appear less attractive and lower borrowing rates often lift earnings.
Instead, the market has stalled, with the S&P 500 (^GSPC) returning a meager 0.3% gain year to date.
Yahoo Finance's Allie Canal explains:
Read more here.
Yahoo Finance's Brian Sozzi writes:
Read more about why Palantir stock has sold off here.
Tesla (TSLA) shares have tumbled 30% this year and have wiped out nearly all of their post-Trump election gains. The stock is trading steady in premarket, following its 3% drop in Thursday's tech sell-off.
Several factors are helping drive the retreat. Yahoo Finance's Pras Subramanian reports:
Read more here.
A fresh look at a key inflation measure will come with the January PCE release, expected at 8:30 a.m. ET on Friday.
Yahoo Finance's Josh Schafer reports:
Read more here.
Economic data: PCE inflation (January); MNI Chicago PMI (February)
Earnings: fuboTV (FUBO)
Here are some of the biggest stories you may have missed overnight and early this morning:
Elon Musk is putting his investors' faith to the test
Nvidia CEO: Our auto business doubled — and it's just the start
Retail giants face growing pushback over retreat from DEI
Bitcoin down 25% from all-time high as crypto rout worsens
Gold on track for worst week this year as investors book profits
Steep drop in credit scores hits student loan borrowers
Tencent fires up AI race with model it says outdoes DeepSeek
Gold (GC=F) prices are falling as a rising dollar (DX-Y.NYB) dents appetite for the precious metal.
Bloomberg reports:
Read more here.
The S&P 500 (^GSPC) gained 1.6%%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 1.5% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) climbed 1.3%. All three major averages reversed earlier losses, sending February off with a relief rally.
Markets wrapped the month of February with sharp weekly and monthly losses after suffering a buffets of tariff moves. The Nasdaq shed close to 5% in February, while the S&P 500 and Dow suffered drops of around 2%.
The January reading of Personal Consumption Expenditures index (PCE) did its part to soothe some anxiety on Wall Street about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations.
But consumer spending fell 0.2% last month, the data showed. That undershot economist forecasts of a 0.1% rise and compared with a gain of 0.8% in December.
Friday afternoon also set the stage for a heated exchange between President Donald Trump, Vice President JD Vance and Ukrainian President Volodymyr Zelensky. At a meeting in the Oval Office, while the cameras were rolling, the American leaders called Zelensky "disrespectful" and chastised him for not being thankful enough for US support in its armed conflict with Russia.
Meanwhile, investors reeling from Trump's fast-paced trade policy overhaul had to grapple with fresh tensions after China vowed to respond with "all necessary measures." Beijing's threat came after Trump said an extra 10% tariff on Chinese imports would take hold on Tuesday. He has also pledged to follow through on new duties on Mexico and Canada, and to impose tariffs on the EU.
Also, the sell-off in bitcoin (BTC-USD) deepened as the token sank 7% to its lowest level since November. The cryptocurrency has dropped 25% from its record high amid a broader crypto rout.
A geopolitical drama playing out in the White House coincided with a volatile trading day Friday, capping a losing month for Wall Street and leaving investors with unease over Trump's tariff threats, set to be implemented next week.
The S&P 500 (^GSPC) gained 1.6%%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 1.5% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) climbed 1.3%. All three major averages reversed earlier losses, sending February off with a relief rally.
Markets wrapped the month February with sharp weekly and monthly losses after suffering the buffets of tariff moves. The Nasdaq shed close to 5% in February, while the S&P 500 and Dow suffered drops of around 2%.
Meanwhile, an economic deal between the US and Ukraine was left in limbo, after a heated shouting match between President Trump and resident Volodymyr Zelensky in the Oval Office left the negotiations unresolved.
The price of bitcoin (BTC-USD) dropped as much as 7% on Friday to $78,495 as investors digested rising fears of a recession and the looming tariffs by the Trump administration.
The drop puts bitcoin down nearly 20% over the past month — its worst monthly performance since June 2022, Yahoo Finance's Laura Bratton reports.
Bitcoin has now fallen by around 17% in February. The asset has shed a stunning 23% since hitting a record high of more than $109,000 on the day after Trump's inauguration.
Nic Puckrin, financial analyst and founder of the Coin Bureau, said in an email to Yahoo Finance earlier this week that the "sharp sell-off in crypto on renewed tariff fears shows that Bitcoin, and even altcoins, are now entirely driven by politics."
Read more about bitcoin's downturn here.
The 'Magnificent 7' group were on track to snap a 6-day streak of declines on Friday, but those gains were not enough to avoid steep losses for the week following a Tech sell-off on Wall Street.
Nvidia (NVDA) stock rebounded more than 1% in afternoon trading. However shares were on pace to close down more than 9% for the past five days after the AI chip giant's quarterly results failed to wow investors.
Tesla (TSLA) shares also rallied on Friday, but were also on track to lose 13% for the week as the 'Trump trade' continues to unwind. Shares of the EV giant are down roughly 27% year-to-date.
Alphabet (GOOG,GOOGL), Meta (META), Apple (AAPL) and Amazon (AMZN) were all set to close out the week lower as investors assessed President Trump's tariff plans and the potential impact those could have on the economy.
A visit meant to cement a US security deal with Ukraine devolved into a heated on-camera argument between President Trump, Vice President JD Vance, and Ukraine President Volodymyr Zelensky, as the two American leaders criticized Zelensky for not being thankful enough for US support and pushed him to accept their terms for a resolution.
As the cameras rolled, both Trump and Vance raised their voices at times and spoke over Zelensky, who appeared to keep his cool but also didn't seem to advance his cause as the American leaders continued to air their grievances.
Following the televised conflict, Trump posted on Truth Social that "Zelenskyy is not ready for Peace if America is involved." He added that Zelensky "disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace."
The Atlanta Fed's running estimate of real GDP growth showed a reading of -1.5% Friday, a sharp decrease from earlier readings and the latest warning sign of an economic slowdown amid President Trump's tariff battle.
While the reading is not an official forecast, it nonetheless offered a striking data point even as other models continue to show positive growth for the current quarter.
The GDPNow model previously showed a reading of 2.3% earlier this week and recorded a measurement of 3.9% earlier this month.
Here are some of the stocks leading Yahoo Finance's trending tickers page during afternoon trading on Friday:
Palantir (PLTR): The data analytics company dropped 3% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
Rocket Lab (RKLB): Shares of the aerospace manufacturer fell 0.6% Friday afternoon following a disappointing first quarter revenue forecast and the delay of the launch of its Neutron rocket to the second half of the year.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back after getting knocked down this week in a broad crypto rout. Shares rose about 3% as of the afternoon. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Autodesk (ADSK): The software company beat expectations on the top and bottom lines but investors still pulled back, even as the company announced plans to focus on profitability, including a cut of more than 1,300 jobs. The restructuring plan would impact about 9% of the company's workforce.
Wall Street is looking to put a rough month of trading to rest as the afternoon session is poised to end with some positive momentum, even as the major averages are set to record a losing month.
The S&P 500 (^GSPC) climbed 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) rose about 0.7% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.6%.
The uptick Friday followed a key inflation reading that largely met expectations, providing some relief to investors. But Trump's renewed tariff threats have added to global economic uncertainty.
Trump said an extra 10% tariff on Chinese imports would take hold next week. And he said he would follow through on new duties on Mexico and Canada and would impose tariffs on the EU.
A fresh reading showing a drop in consumer spending added to a wave of concerning data suggesting that Americans are anxious about coming tariffs and the potential price hikes that could follow.
American consumers cut their spending by 0.2% in January, compared to the prior month, according to data published by the Commerce Department Friday.
While the data also showed that inflation cooled, the president's plans to impose tariffs on Mexico and China next week could push prices higher, economists and business leaders say.
"Softer consumer spending and slower income growth should catch the Fed's attention," said Jeffrey Roach, Chief Economist for LPL Financial. "Despite the deceleration in the annual pace of inflation, the monthly rate is still running hotter than the Fed would like."
The spending data follows two recent consumer sentiment surveys that highlighted a souring outlook among Americans.
Here are some of the stocks leading Yahoo Finance's trending tickers page during morning trading on Friday:
Dell (DELL): Shares of the technology company fell 6% Friday morning following a mixed revenue outlook for the current quarter. Dell reported quarterly results Thursday with sales that missed analysts' estimates but logged earnings that beat Wall Street expectations.
Palantir (PLTR): The data analytics company dropped 1% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
HP (HP): The legacy IT company fell 6% Friday as it expects President Trump's tariff policies around China to weigh on the profit outlook for the second quarter and full-year 2025. As the computer company reported earnings on Thursday, it also said up to 2,000 more employees would be laid off as part of a cost-savings plan.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back in morning trading after getting knocked down this week in a broad crypto rout. Shares rose about 5%. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Redfin stock (RDFN) tumbled 13% on Friday after the online real estate company reported fourth quarter earnings that fell short of Wall Street's expectations and provided a discouraging outlook.
The company posted a net loss of $0.29 for each share of common stock, worse than the $0.23 loss per share analysts expected. The revenue guidance for the next quarter, in a range of $214 million to $225 million, also didn't impress, coming below analysts' estimates of $244.4 million.
This is a mixed report, and the outlook "was below on revenue and especially so on EBITDA," which 'is critical as Redfin has been keenly focused on reaching profitability since 2023 and not yet consistently reached,' Citi's Ygal Arounian wrote in a note to clients after the company's earnings.
CEO Glenn Kelman remains optimistic despite ongoing housing challenges, expecting higher profits from the rental partnership with Zillow.
'One reason Redfin is focused on gaining market shares [is that] home sales are unlikely to significantly recover in 2025,' Kelman told analysts and investors on Thursday's earnings call.
Stocks are pretty upbeat as they kick off the last trading day of February, with the major gauges — even the Nasdaq — all holding nicely in the green.
But weeks of President Trump's tariff battering ram and confidence-cracking economic data have taken a toll. All sorts of assets look bruised when it comes to monthly performance.
Here is where those markets are historically headed in the early going:
On the plus side, Consumer Staples stocks look to be the biggest February winner in sectors.
Organic egg giant Vital Farms (VITL) told investors on Thursday that the bird flu ripping through US farms right now will keep pressure on supply to start the year, but that shortages should ease later in 2025.
"Industry supply will remain under pressure to start the year due to the impact of HPAI on poultry flocks across the United States," Vital Farms CEO Russell Diez-Canseco said in a release.
"We have experienced supply constraints to start the year. However, as the year progresses, we believe the supply chain investments we made in 2024 and into 2025 will begin bearing fruit."
In its fourth quarter ended Dec. 29, the company reported revenue rose 22.2% to $166 million. For the full-year, revenues tallied $606 million. The company expects full-year 2025 revenues to be "at least" $740 million.
Shares were up as much as 5% early Friday. The stock has lost about 13% so far this year but is up close to 90% over the last 12 months.
Egg shortages and a surge in egg prices have been one of the biggest economic stories for consumers to start 2025. In January, the average price of a dozen eggs in the US hit a record $4.95, up 15.2% over the prior month and 53% from the same month last year.
And as politicians, economists, and investors learned vividly during the post-pandemic inflation boom, consumers dislike many things about inflation, but nothing stings quite like spiking grocery prices.
Especially for a household staple like eggs.
The Fed's preferred inflation gauge met estimates Friday with a reading that showed prices rose in January but cooled on an annual basis.
The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs, rose 0.3% in January, Yahoo Finance's Jennifer Schonberger reports.
On an annual basis, core prices rose 2.6%, which was in line with expectations and down from the 2.9% year-over-year increase in December.
The PCE data should keep interest rates on hold when the central bank holds its next meeting on March 18-19. Friday's reading is expected to offer Fed officials solace after the January CPI data caused many policymakers to question whether the hotter-than-expected reading was a blip or a new trend.
Read more here.
An inflation reading that served to calm anxieties over pricing pressures did little to boost US stocks Friday, as the print met expectations but arrived amid fresh tariff threats, which added to uncertainty over Big Tech prospects.
The S&P 500 (^GSPC) rose just over the flat line, while the tech-heavy Nasdaq Composite (^IXIC) was up about 0.5% after suffering an Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.2%.
The January reading of Personal Consumption Expenditures index did its part to soothe some anxiety after recent data revived concerns about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations.
The benchmark 10-year Treasury yield (^TNX) fell to a 2025 low this week, which, in theory, should have boosted the stock market, as bond returns appear less attractive and lower borrowing rates often lift earnings.
Instead, the market has stalled, with the S&P 500 (^GSPC) returning a meager 0.3% gain year to date.
Yahoo Finance's Allie Canal explains:
Read more here.
Yahoo Finance's Brian Sozzi writes:
Read more about why Palantir stock has sold off here.
Tesla (TSLA) shares have tumbled 30% this year and have wiped out nearly all of their post-Trump election gains. The stock is trading steady in premarket, following its 3% drop in Thursday's tech sell-off.
Several factors are helping drive the retreat. Yahoo Finance's Pras Subramanian reports:
Read more here.
A fresh look at a key inflation measure will come with the January PCE release, expected at 8:30 a.m. ET on Friday.
Yahoo Finance's Josh Schafer reports:
Read more here.
Economic data: PCE inflation (January); MNI Chicago PMI (February)
Earnings: fuboTV (FUBO)
Here are some of the biggest stories you may have missed overnight and early this morning:
Elon Musk is putting his investors' faith to the test
Nvidia CEO: Our auto business doubled — and it's just the start
Retail giants face growing pushback over retreat from DEI
Bitcoin down 25% from all-time high as crypto rout worsens
Gold on track for worst week this year as investors book profits
Steep drop in credit scores hits student loan borrowers
Tencent fires up AI race with model it says outdoes DeepSeek
Gold (GC=F) prices are falling as a rising dollar (DX-Y.NYB) dents appetite for the precious metal.
Bloomberg reports:
Read more here.
A geopolitical drama playing out in the White House coincided with a volatile trading day Friday, capping a losing month for Wall Street and leaving investors with unease over Trump's tariff threats, set to be implemented next week.
The S&P 500 (^GSPC) gained 1.6%%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 1.5% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) climbed 1.3%. All three major averages reversed earlier losses, sending February off with a relief rally.
Markets wrapped the month February with sharp weekly and monthly losses after suffering the buffets of tariff moves. The Nasdaq shed close to 5% in February, while the S&P 500 and Dow suffered drops of around 2%.
Meanwhile, an economic deal between the US and Ukraine was left in limbo, after a heated shouting match between President Trump and resident Volodymyr Zelensky in the Oval Office left the negotiations unresolved.
The price of bitcoin (BTC-USD) dropped as much as 7% on Friday to $78,495 as investors digested rising fears of a recession and the looming tariffs by the Trump administration.
The drop puts bitcoin down nearly 20% over the past month — its worst monthly performance since June 2022, Yahoo Finance's Laura Bratton reports.
Bitcoin has now fallen by around 17% in February. The asset has shed a stunning 23% since hitting a record high of more than $109,000 on the day after Trump's inauguration.
Nic Puckrin, financial analyst and founder of the Coin Bureau, said in an email to Yahoo Finance earlier this week that the "sharp sell-off in crypto on renewed tariff fears shows that Bitcoin, and even altcoins, are now entirely driven by politics."
Read more about bitcoin's downturn here.
The 'Magnificent 7' group were on track to snap a 6-day streak of declines on Friday, but those gains were not enough to avoid steep losses for the week following a Tech sell-off on Wall Street.
Nvidia (NVDA) stock rebounded more than 1% in afternoon trading. However shares were on pace to close down more than 9% for the past five days after the AI chip giant's quarterly results failed to wow investors.
Tesla (TSLA) shares also rallied on Friday, but were also on track to lose 13% for the week as the 'Trump trade' continues to unwind. Shares of the EV giant are down roughly 27% year-to-date.
Alphabet (GOOG,GOOGL), Meta (META), Apple (AAPL) and Amazon (AMZN) were all set to close out the week lower as investors assessed President Trump's tariff plans and the potential impact those could have on the economy.
A visit meant to cement a US security deal with Ukraine devolved into a heated on-camera argument between President Trump, Vice President JD Vance, and Ukraine President Volodymyr Zelensky, as the two American leaders criticized Zelensky for not being thankful enough for US support and pushed him to accept their terms for a resolution.
As the cameras rolled, both Trump and Vance raised their voices at times and spoke over Zelensky, who appeared to keep his cool but also didn't seem to advance his cause as the American leaders continued to air their grievances.
Following the televised conflict, Trump posted on Truth Social that "Zelenskyy is not ready for Peace if America is involved." He added that Zelensky "disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace."
The Atlanta Fed's running estimate of real GDP growth showed a reading of -1.5% Friday, a sharp decrease from earlier readings and the latest warning sign of an economic slowdown amid President Trump's tariff battle.
While the reading is not an official forecast, it nonetheless offered a striking data point even as other models continue to show positive growth for the current quarter.
The GDPNow model previously showed a reading of 2.3% earlier this week and recorded a measurement of 3.9% earlier this month.
Here are some of the stocks leading Yahoo Finance's trending tickers page during afternoon trading on Friday:
Palantir (PLTR): The data analytics company dropped 3% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
Rocket Lab (RKLB): Shares of the aerospace manufacturer fell 0.6% Friday afternoon following a disappointing first quarter revenue forecast and the delay of the launch of its Neutron rocket to the second half of the year.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back after getting knocked down this week in a broad crypto rout. Shares rose about 3% as of the afternoon. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Autodesk (ADSK): The software company beat expectations on the top and bottom lines but investors still pulled back, even as the company announced plans to focus on profitability, including a cut of more than 1,300 jobs. The restructuring plan would impact about 9% of the company's workforce.
Wall Street is looking to put a rough month of trading to rest as the afternoon session is poised to end with some positive momentum, even as the major averages are set to record a losing month.
The S&P 500 (^GSPC) climbed 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) rose about 0.7% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.6%.
The uptick Friday followed a key inflation reading that largely met expectations, providing some relief to investors. But Trump's renewed tariff threats have added to global economic uncertainty.
Trump said an extra 10% tariff on Chinese imports would take hold next week. And he said he would follow through on new duties on Mexico and Canada and would impose tariffs on the EU.
A fresh reading showing a drop in consumer spending added to a wave of concerning data suggesting that Americans are anxious about coming tariffs and the potential price hikes that could follow.
American consumers cut their spending by 0.2% in January, compared to the prior month, according to data published by the Commerce Department Friday.
While the data also showed that inflation cooled, the president's plans to impose tariffs on Mexico and China next week could push prices higher, economists and business leaders say.
"Softer consumer spending and slower income growth should catch the Fed's attention," said Jeffrey Roach, Chief Economist for LPL Financial. "Despite the deceleration in the annual pace of inflation, the monthly rate is still running hotter than the Fed would like."
The spending data follows two recent consumer sentiment surveys that highlighted a souring outlook among Americans.
Here are some of the stocks leading Yahoo Finance's trending tickers page during morning trading on Friday:
Dell (DELL): Shares of the technology company fell 6% Friday morning following a mixed revenue outlook for the current quarter. Dell reported quarterly results Thursday with sales that missed analysts' estimates but logged earnings that beat Wall Street expectations.
Palantir (PLTR): The data analytics company dropped 1% Friday, continuing a losing streak that has eaten into nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.
HP (HP): The legacy IT company fell 6% Friday as it expects President Trump's tariff policies around China to weigh on the profit outlook for the second quarter and full-year 2025. As the computer company reported earnings on Thursday, it also said up to 2,000 more employees would be laid off as part of a cost-savings plan.
Strategy (MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back in morning trading after getting knocked down this week in a broad crypto rout. Shares rose about 5%. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.
Redfin stock (RDFN) tumbled 13% on Friday after the online real estate company reported fourth quarter earnings that fell short of Wall Street's expectations and provided a discouraging outlook.
The company posted a net loss of $0.29 for each share of common stock, worse than the $0.23 loss per share analysts expected. The revenue guidance for the next quarter, in a range of $214 million to $225 million, also didn't impress, coming below analysts' estimates of $244.4 million.
This is a mixed report, and the outlook "was below on revenue and especially so on EBITDA," which 'is critical as Redfin has been keenly focused on reaching profitability since 2023 and not yet consistently reached,' Citi's Ygal Arounian wrote in a note to clients after the company's earnings.
CEO Glenn Kelman remains optimistic despite ongoing housing challenges, expecting higher profits from the rental partnership with Zillow.
'One reason Redfin is focused on gaining market shares [is that] home sales are unlikely to significantly recover in 2025,' Kelman told analysts and investors on Thursday's earnings call.
Stocks are pretty upbeat as they kick off the last trading day of February, with the major gauges — even the Nasdaq — all holding nicely in the green.
But weeks of President Trump's tariff battering ram and confidence-cracking economic data have taken a toll. All sorts of assets look bruised when it comes to monthly performance.
Here is where those markets are historically headed in the early going:
On the plus side, Consumer Staples stocks look to be the biggest February winner in sectors.
Organic egg giant Vital Farms (VITL) told investors on Thursday that the bird flu ripping through US farms right now will keep pressure on supply to start the year, but that shortages should ease later in 2025.
"Industry supply will remain under pressure to start the year due to the impact of HPAI on poultry flocks across the United States," Vital Farms CEO Russell Diez-Canseco said in a release.
"We have experienced supply constraints to start the year. However, as the year progresses, we believe the supply chain investments we made in 2024 and into 2025 will begin bearing fruit."
In its fourth quarter ended Dec. 29, the company reported revenue rose 22.2% to $166 million. For the full-year, revenues tallied $606 million. The company expects full-year 2025 revenues to be "at least" $740 million.
Shares were up as much as 5% early Friday. The stock has lost about 13% so far this year but is up close to 90% over the last 12 months.
Egg shortages and a surge in egg prices have been one of the biggest economic stories for consumers to start 2025. In January, the average price of a dozen eggs in the US hit a record $4.95, up 15.2% over the prior month and 53% from the same month last year.
And as politicians, economists, and investors learned vividly during the post-pandemic inflation boom, consumers dislike many things about inflation, but nothing stings quite like spiking grocery prices.
Especially for a household staple like eggs.
The Fed's preferred inflation gauge met estimates Friday with a reading that showed prices rose in January but cooled on an annual basis.
The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs, rose 0.3% in January, Yahoo Finance's Jennifer Schonberger reports.
On an annual basis, core prices rose 2.6%, which was in line with expectations and down from the 2.9% year-over-year increase in December.
The PCE data should keep interest rates on hold when the central bank holds its next meeting on March 18-19. Friday's reading is expected to offer Fed officials solace after the January CPI data caused many policymakers to question whether the hotter-than-expected reading was a blip or a new trend.
Read more here.
An inflation reading that served to calm anxieties over pricing pressures did little to boost US stocks Friday, as the print met expectations but arrived amid fresh tariff threats, which added to uncertainty over Big Tech prospects.
The S&P 500 (^GSPC) rose just over the flat line, while the tech-heavy Nasdaq Composite (^IXIC) was up about 0.5% after suffering an Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.2%.
The January reading of Personal Consumption Expenditures index did its part to soothe some anxiety after recent data revived concerns about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations.
The benchmark 10-year Treasury yield (^TNX) fell to a 2025 low this week, which, in theory, should have boosted the stock market, as bond returns appear less attractive and lower borrowing rates often lift earnings.
Instead, the market has stalled, with the S&P 500 (^GSPC) returning a meager 0.3% gain year to date.
Yahoo Finance's Allie Canal explains:
Read more here.
Yahoo Finance's Brian Sozzi writes:
Read more about why Palantir stock has sold off here.
Tesla (TSLA) shares have tumbled 30% this year and have wiped out nearly all of their post-Trump election gains. The stock is trading steady in premarket, following its 3% drop in Thursday's tech sell-off.
Several factors are helping drive the retreat. Yahoo Finance's Pras Subramanian reports:
Read more here.
A fresh look at a key inflation measure will come with the January PCE release, expected at 8:30 a.m. ET on Friday.
Yahoo Finance's Josh Schafer reports:
Read more here.
Economic data: PCE inflation (January); MNI Chicago PMI (February)
Earnings: fuboTV (FUBO)
Here are some of the biggest stories you may have missed overnight and early this morning:
Elon Musk is putting his investors' faith to the test
Nvidia CEO: Our auto business doubled — and it's just the start
Retail giants face growing pushback over retreat from DEI
Bitcoin down 25% from all-time high as crypto rout worsens
Gold on track for worst week this year as investors book profits
Steep drop in credit scores hits student loan borrowers
Tencent fires up AI race with model it says outdoes DeepSeek
Gold (GC=F) prices are falling as a rising dollar (DX-Y.NYB) dents appetite for the precious metal.
Bloomberg reports:
Read more here.
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- The Hill
Trump joins Chelsea for Club World Cup celebration
President Trump joined the English soccer club Chelsea on Sunday on the field to celebrate its victory in the 2025 FIFA Club World Cup at New Jersey's MetLife Stadium. The president stood alongside the team as a player held the trophy aloft after a 3-0 win over France's Paris Saint-Germain. The White House posted a photo of the moment on the social platform X on Sunday. Trump watched the game from a skybox, where he was reportedly joined by Attorney General Pam Bondi, Transportation Secretary Sean Duffy, Homeland Security Secretary Kristi Noem, NFL legend Tom Brady, conservative media mogul Rupert Murdoch and FIFA president Gianni Infantino. Sunday marked exactly a year since Trump was shot in the ear at a campaign event in Butler, Pa. 'It was an upset today I guess,' Trump told reporters after flying back to Washington following Chelsea's victory. 'But it was a great match.' The Associated Press reported that Trump and first lady Melania Trump were greeted with cheers as they arrived at the stadium, but that Trump received a smattering of boos when he was briefly shown on the stadium's mega-screen. MetLife Stadium is set to host the World Cup next year. FIFA, the international soccer organization, opened an office at New York's Trump Tower prior to the Club World Cup final. Infantino revealed the trophy while at Trump Tower on Tuesday, where he was joined by Trump's son Eric Trump and ex-Brazilian soccer player Ronaldo Luís Nazário de Lima. 'A big thanks to United States President @realdonaldtrump, @erictrump, as well as the @whtaskforcefifa for all your support of the ongoing FIFA Club World Cup, which is uniting the world in peace, happiness, and joy. I also thank all attending FIFA Council members and FIFA Legends for your time today,' Infantino said Tuesday on Instagram. 'As New York becomes the capital of world football over this week when we will crown the only official FIFA club world champions, and next year for the FIFA World Cup, I am delighted we will be present to serve our game from this global city,' he added.
