20.02.202613:52:22UTC+00US Futures Extend Drop on GDP Miss

US equity index futures extended losses on Friday after a batch of economic data painted a less favorable picture for the corporate sector. Contracts linked to the S&P 500 and the Dow Jones Industrial Average were down 0.3%, while Nasdaq 100 futures slipped 0.5%.

US GDP expanded at an annualized rate of 1.4% in the fourth quarter, sharply undershooting expectations for 3% growth and challenging the narrative that the economy remained resilient in the face of tariffs and the government shutdown. Equities also came under pressure from a sharp rise in the PCE price index and an upside surprise in the core measure, which tempered hopes for a more accommodative monetary stance by the Federal Reserve. Policymakers have recently warned that persistently high inflation must be brought under control before considering rate cuts.

High-flying names tied to AI-driven speculation retreated, with Nvidia and Meta trading lower in pre-market action. Banks were also weaker, extending the subdued performance seen in the previous session. Meanwhile, Newmont dropped 3% after projecting lower gold output for the year.