Nasdaq futures indicated a downward trajectory in anticipation of a wholesale inflation report on Friday, following a decline in both the Nasdaq and S&P 500 the previous day, driven by a pullback in Nvidia shares. Futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 experienced declines of 0.6%, 0.4%, and 0.3%, respectively, in the latest trading session. Yesterday, the tech-heavy Nasdaq and benchmark S&P 500 concluded the trading session down 1.2% and 0.5%, respectively, following a 5.5% decline in Nvidia shares. The world’s most valuable company underperformed in both indexes, despite reporting impressive results after the bell on Wednesday. Nvidia shares indicated an increase of 0.4% prior to the market opening on Friday.

The Nasdaq and S&P 500 experienced declines of 2.5% and 0.4%, respectively, as February approached its final trading day. The blue-chip Dow, which concluded Thursday with a slight increase, has risen by 1.2% in February and is on track for its 10th consecutive monthly gain. Market participants will closely monitor the upcoming release of wholesale inflation data scheduled for 8:30 a.m. on Friday. The Producer Price Index data aligns with recent consumer inflation reports indicating that price pressures have moderated more than analysts had forecasted. The 10-year Treasury yield, a key determinant of interest rates across various consumer loans such as mortgages, declined to 3.99% in advance of Thursday’s closing figure of approximately 4.01%.

Shares of Netflix soared 7% in premarket trading Friday, a day after the streaming giant announced it wouldn’t match Paramount Skydance’s revised bid to acquire all of Warner Bros. Discovery for $31 a share. Shares of David Ellison-led Paramount surged by 9%, whereas those of WBD experienced a decline of 2%. Block shares soared 18% following the announcement from the parent company of Square and Cash App regarding its intention to reduce its workforce by 40%. Founder Jack Dorsey noted in a shareholder letter accompanying the earnings report that this decision was driven by advancements in “intelligence tools.” In the aftermath of earnings announcements, Dell Technologies experienced a notable increase of 11%, while CoreWeave saw a decline of 11%. Zscaler retreated by 9%, and Intuit recorded a decrease of 3.5%.

Bitcoin was trading at approximately 66,600, a decline from the overnight peaks exceeding 68,200. The U.S. dollar index, which measures the value of the greenback relative to a selection of currencies, declined by 0.1% to 97.74. Gold futures remained relatively stable, hovering just below $5,200 per ounce, whereas silver futures experienced a 3% increase, surpassing $90 per ounce. West Texas Intermediate futures, the U.S. crude oil benchmark, increased by almost 2% to $66.45 a barrel.