Stock market futures continued to show gains on Thursday, despite a higher-than-anticipated wholesale inflation figure and a decrease in the market leader Nvidia.
Dow Jones Industrial Average futures saw an increase of 134 points, or 0.3%, while S&P 500 futures rose by 0.2% and Nasdaq-100 futures climbed by 0.1%.
Investors showed interest in major technology stocks such as Apple and Microsoft early on Thursday. Robinhood, a popular trading platform, saw a 12% increase after reporting a 16% growth in assets under custody in February compared to the previous month. In contrast, troubled electric vehicle startup Fisker experienced a 37% drop following reports by The Wall Street Journal about hiring restructuring advisors in preparation for a potential bankruptcy filing. Chipmaker Nvidia also experienced a slight decline of approximately 2%.
The producer price index for February, a key measure of wholesale inflation, rose by 0.6% last month. Excluding food and energy prices, the core PPI increased by 0.3% in February, which was higher than the economists’ estimates that had predicted a 0.3% increase in headline PPI and a 0.2% rise in the core reading in February.
Source (CNBC)
