Market Recap (3/2/25)
Market Recap of the Week of Feb 24, 2025 - Feb 28, 2025
Source: Apple Stocks Application
Overall Market Trends:
Last week, the stock market faced mixed results with the tech-heavy indices declining while the general-market indices rose. The S&P 500 fell 57 points (-0.98%) and the NASDAQ Composite declined 676 points (-3.46%). On the other hand, the New York Stock Exchange Composite rose 153 points (+0.77%) while the Dow Jones Industrial Average posted weekly gains of 410 points (+0.94%). These results were largely influenced by new economic data and tariff concerns.
Tech stocks slid on Monday while the Dow etched out small gains. Palantir (NASDAQ: PLTR) fell over 10% contributing to the NASDAQ’s losses. TD Cowen announced that they were pulling back on artificial intelligence data centers, prompting Microsoft (NASDAQ: MSFT) to fall 1% and Nvidia (NASDAQ: NVDA) to drop 3%. Concerns about Trump’s tariffs and trade war with important trade partners continue to weigh on market sentiment.
The market continued to fall on Tuesday after a lackluster consumer confidence report came in much lower than expected. This adds to the recent disappointing economic data reports over the past week. Momentum stocks continued to decline. Tesla (NASDAQ: TSLA) fell 8%, Palantir dropped 3%, and Meta Platforms (NASDAQ: META) dipped 1.6%.
The NASDAQ and S&P 500 advanced slightly while the Dow fell on Wednesday, ending the broad index’s 4-day losing streak. Maplebear (NASDAQ: CART), Instacart's parent company”, fell 12.3% after the company announced disappointing Q4 earnings. Tariff concerns have also continued to weigh down on stocks.
Stocks continued to tank on Thursday after President Trump confirmed that the tariffs on Mexico and Canada would come into effect, followed by an additional 10% tariff increase on China. Nvidia dove over 8% despite a strong earnings report as investors questioned whether the bull market will keep momentum for the chip stock after it had its smallest revenue beat in two years in conjunction with a gross margin decline.
The market rallied on Friday, despite a brief pullback after President Trump and Vice President Vance’s argument with Ukraine President Zelensky in the oval office. The rally was largely spurred by index balancing and technical buying sources.
Past Earnings Report:
Looking Towards the Future
Upcoming Important Economic Events:
Monday: S&P final U.S. manufacturing PMI; ISM manufacturing
Tuesday: New York Fed President Williams speaks; Richmond Fed President Barkin speaks
Wednesday: ADP employment; S&P final U.S. services PMI; Fed Beige Book
Thursday: Initial jobless claims; U.S. productivity (final); Philadelphia Fed President Patrick Harker speaks; Fed Governor Christopher Waller speaks; Atlanta Fed President Bostic speaks
Friday: U.S. jobs report; U.S. unemployment rate; Fed Chairman Jerome Powell speaks
Future Earnings Reports: