Stock futures are firmly lower this morning, after U.S. gross domestic product (GDP) rose at an annualized rate of 1.4% in the fourth quarter, far below the 2.5% rise anticipated by analysts. The government shutdown had a hand in those numbers, but the economy still grew 2.2% in 2025. A highly anticipated Supreme Court ruling on the legality of President Donald Trump’s tariffs could also come out today. The Dow Jones Industrial Average (DJI) is eyeing a weekly loss coming into today, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are pacing for weekly gains.


Asian markets finished the day mostly lower, as investors digested inflation data out of Japan and monitored tensions between the U.S. and Iran. Japan’s Nikkei fell 1.1%, after the Bank of Japan (BoJ) reported a headline inflation reading of 1.5% for January, below the 2% target for the first time since March 2022. Japanese bond yields cooled in response. Hong Kong’s Hang Seng also fell 1.1%, weighed down by an underperforming tech sector. Bucking the trend, South Korea’s Kospi surged 2.3%, tapping a second-consecutive record high thanks to a boost in defense and chip stocks. Markets in China remained closed for Lunar New Year holiday.
U.S.-Iran developments are also in focus in Europe amid a fresh batch of economic data. Euro zone’s manufacturing PMI rose to 51.9 in February, surpassing expectation and suggesting business activity growth. Retail data out of the U.K. rose 1.8% for January, up 0.4% from December. In Germany, the producer price index (PPI) declined 3% year-over-year, wider than the anticipated 2.1% drop from analysts. At last glance, London’s FTSE 100 is up 0.5%, Germany’s DAX is 0.2% higher, and France’s CAC 40 has added 0.8%.
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