Stock futures moved lower on Friday as it appeared Wall Street would settle out the week, month and first quarter with mixed results.
S&P 500 futures were down 0.13%, Dow Jones Industrial Average futures slid 0.1%, and Nasdaq futures fell 0.04%.
The Dow is set to close out Friday with its first monthly loss since the election, a result of financials coming back to earth in recent weeks after an extended rally following Donald Trump's surprise election win in November. The blue-chip index is set for a 0.4% decline for March. The Nasdaq will likely see the best return for the month, barring any massive moves on Friday, with gains of 1.5%. The S&P 500 is set to rise just 0.2% for March.
For the quarter, the Nasdaq will again log the best gains of the three major benchmark indexes with a likely increase of 10% over the first three months of the year. The S&P 500 will likely close up nearly 6% for the first quarter, while the Dow should rise almost 5%. The Dow's gain will be its sixth quarterly increase in a row, its longest stretch since the end of 2006.
Personal incomes in the U.S. rose 0.4% in February, in line with estimates but slightly slower than growth of 0.5% in January. Consumer spending increased 0.1%, half the expected increase. The U.S. savings rate increased to 5.6% from 5.4%.
Crude oil gave back some of its recent gains on Friday after settling at its highest level in more than three weeks a day earlier. The commodity rallied after a weekly reading on domestic inventories showed a smaller-than-expected rise. Production disruptions in Libya also gave rise to crude prices.
West Texas Intermediate crude oil declined by 0.5% to $50.09 a barrel on Thursday.
BlackBerry climbed nearly 5% in premarket trading after narrowing its loss from a year earlier and posting above-consensus adjusted profit. A per-share loss of 10 cents in the fourth quarter was more than a quarter wider than the loss a year earlier. Adjusted earnings of 4 cents a share came in higher than estimates of a break-even result. BlackBerry anticipates adjusted earnings over fiscal 2018.
TRC Cos. (TRR) jumped almost 45% to $17.30 after agreeing to be acquired by New Mountain Partners in a deal that values the company at a 47% premium to its close on Thursday. New Mountain will pay $17.55 a share in an all-cash deal. TRC CEO Chris Vincze said that the transaction would "deliver immediate value to our shareholders while enabling TRC to continue to pursue its long-term growth strategy."
DuPont (DD) - Get Report said Friday that it agreed to swap some assets with FMC Corp. (FMC) - Get Report in a deal worth around $1.6 billion. DuPont will sell its crop protection business to FMC for ownership of FMC Health and Nutrition and an additional $1.2 billion in cash. The deal is part of DuPont's efforts to comply with the European Union's requirements for its $130 billion merger with Dow Chemical (DOW) - Get Report . That deal is now expected to close in August, pushed back from a previous target of the first half of this year.
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