• Wall Street heads into the final session of a volatile February, with tech stocks under renewed pressure.
• Inflation data and tariff policy updates could be the likely catalysts in trade today.
• Netflix has stepped aside from a bid for WBD, paving the way for a potential $111 billion merger with PSKY. 

U.S. stock futures were lower early Friday as Wall Street prepares to close out a choppy February. Tech stocks have taken a beating this month amidst AI disruption fears, with Nvidia (NVDA) too seeing a selloff after its earnings this week. 

Investors will also be tracking the Trump administration's DOJ, which faces a legal deadline on tariff refunds. This comes after the Supreme Court ruling last week, which deemed certain emergency tariffs illegal. Meanwhile, tensions over AI regulation are rising, with Anthropic pushing back against Pentagon demands for unrestricted military AI use. 

As of 3:00 a.m. ET on Friday, S & P futures fell 0.2%, Dow futures were down 0.4%, and Nasdaq futures were flat with a negative bias, while Russell 2000 futures declined 0.6%.

Meanwhile, retail sentiment toward the SPDR S & P 500 ETF (SPY), an exchange-traded fund that tracks the S & P 500 Index, has remained 'bullish', while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq 100 Index, has remained 'bearish' amid high message volumes. 

Trending Stocks To WatchNetflix (NFLX), Warner Bros Discovery (WBD) & Paramount (PSKY): Netflix has officially ceded the WBD deal to Paramount-Skydance. It has also signalled that it will revive its buybacks. Google (GOOGL), Meta Inc (META): Meta has reportedly signed a deal with Google to use their TPU chips to train its AI models. In another development, South Korea has given a 'conditional' approval for Google's request to export high-precision map data abroad. Block (XYZ): Shares saw a surge in after-hours trade after it announced layoff plans in an AI-driven restructuring.  

Coreweave (CRWV): Despite a massive $30 billion capex plan, its Q1 revenue guidance fell short of analysts' expectations. MP Materials (MP): The sole U.S. rare-earths producer reportedly signed an 'enormous' supply contract with an unidentified automaker. 

Mara Holdings (MARA): On the retail radar after announcing a massive partnership with Starwood to develop up to 2.5 gigawatts of data center capacity. 

Rocket Labs (RKLB):It has unveiled its new silicon solar arrays designed for space-based data centers. 

Kratos (KTOS): The company has announced a $1 billion stock offering to fund its acquisitions. Other tickers trending on Stocktwits at the time of writing included ImmunityBio (IBRX), SoundHound AI (SOUN), Eos Energy (EOSE), and UiPath (PATH), among others. 

Other Catalysts To Watch

On the economic front, investors will monitor the inflation data due at 8:30 am ET, followed by construction spending at 10 am. 

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