02/28/25/ And notice bitcoin

It’s Friday, February 28, and market participants are testing the buy-the-dip trade following yesterday’s sharp declines. Futures for the S&P 500, Nasdaq 100, and Dow are pointing higher, but sentiment could shift after the release of the Fed’s preferred inflation gauge, the core-PCE Price Index at 8:30 ET.

Despite escalating trade tensions between the U.S. and China, with China vowing to take “all necessary countermeasures” against new tariffs set for March 4, the market reaction has been muted so far. Meanwhile, Treasury yields are slightly lower this morning.

📊 Morning Summary

S&P 500 futures: +11.00 points (+0.2% above fair value)

Nasdaq 100 futures: +2.00 points (fractionally above fair value)

Dow Jones futures: +162 points (+0.4% above fair value)

2-year yield: ↓ 3 bps to 4.05%

10-year yield: ↓ 3 bps to 4.26%

📉 Corporate News

📉 Dell $DELL 102.00, -5.4%: Beat EPS estimates but missed on revenue; Q1 guidance below consensus.

📉 MicroStrategy($MSTR 233.10, -2.9%: Continues to weaken as crypto prices retreat.

📉 HP Inc. $HPQ 32.20, -2.8%: Missed EPS by $0.01; Q2 guidance below consensus but reaffirmed FY25 EPS guidance.

📈 Autodesk $ADSK 287.00, +1.7%: Beat EPS by $0.15, Q1 and FY26 guidance above consensus, but announced a 9% workforce reduction.

📈 Monster Beverage $MNST 53.50, +3.1%: Missed EPS by $0.02, but beat revenue expectations.

📉 NetApp $NTAP 100.16, -15.3%: Matched EPS estimates but missed revenue; Q4 and FY26 guidance below consensus.

Markets are bracing for the core-PCE Price Index data, which could shape expectations for Fed policy moves. Let’s see how the session unfolds! 🚀