On Friday, stock futures experienced an uptick following the release of the personal consumption expenditures (PCE) price index, which aligned with market predictions. However, the major stock indices were on track to close out a disappointing week and month.

The S&P 500 futures edged up by 0.3%, while the Dow Jones Industrial Average surged by 224 points, translating to a 0.5% increase. The Nasdaq-100 futures also saw a 0.2% gain.

So far this month, the Nasdaq Composite has taken the lead in losses, tumbling approximately 5.5% during February, mainly due to a 5% drop within the current week. This tech-focused index is on track to record its poorest performance since September 2023.

The S&P 500 has experienced a decline of 2.5% for the week and around 3% throughout February, putting it on course for its most challenging week since September 2024 and the largest monthly drop since April 2024.

The Dow has faced more moderate losses this week, retreating by a mere 0.4%, and has experienced a nearly 3% drop month-to-date.

Market participants have been unsettled by President Donald Trump’s announcement of tariffs as well as recent economic data indicating potential weaknesses. Notably, a sharp 8.5% fall in tech giant Nvidia during Thursday’s trading session raised concerns about investor confidence.

“February historically tends to be a volatile month for the stock market, and we are witnessing this trend currently,” commented Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management. “Investors are seeking more insight regarding tariffs, rising inflation, and consumer conditions.”