S&P 500: Cautiously Bullish Start as Nvidia and Snowflake Lead Premarket Gains

Not all stocks fared well. Salesforce dropped 4.67% on mixed earnings, while Paramount Global fell 3.21% after a disappointing quarter. Teladoc plunged 16.47%, eBay lost 7.91% on weak guidance, and Ibotta tumbled 35.96% on underwhelming results, reflecting the market’s selective appetite.

Key Economic Data Awaits Traders Thursday

Thursday’s economic lineup includes initial jobless claims for the week ending February 22, durable goods orders for January, and the second estimate of Q4 GDP. The initial GDP reading showed a 2.3% annual growth rate, slightly below forecasts. Any revisions could sway market sentiment, alongside pending home sales data also set for release.

Federal Reserve officials, including Cleveland Fed President Beth Hammack and Philadelphia Fed President Patrick Harker, are scheduled to speak. Their comments could offer fresh insights into the Fed’s inflation strategy, particularly with markets on edge ahead of Friday’s crucial data.

PCE Inflation Data Could Be a Market Mover

The Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge, is due Friday. With inflation pressures persisting—evidenced by January’s hotter-than-expected Consumer Price Index (CPI)—the PCE report could influence expectations for future Fed rate moves.

In addition to inflation data, updates on U.S. GDP, housing market trends, consumer confidence, and the trade balance will draw traders’ attention. Trump’s proposed 25% tariff on EU goods adds a geopolitical layer to market risks, potentially amplifying volatility.