US stocks lower in premarket trading. Yesterday the S&P closed at a new record.

The major indices closed higher yesterday. The S&P 500 gained 0.24%, marking a record close for the index. Meanwhile, the NASDAQ posted a modest gain of 0.7%.

In late news, Palantir shares saw a sharp decline of -10.08% after President Trump directed the Pentagon to reduce defense spending by 8%. Despite Palantir’s software being seen as an efficiency investment, the stock, which had surged nearly 100% from its January 13 low to a high of $125.41 yesterday, experienced a typical pullback. As of today, Palantir shares are down an additional -3.36%, currently trading at $108.30.

A snapshot of the premarket levels implied by the futures currently shows:

• Dow industrial average -142 points
• S&P index -15 points or -0.24%
• NASDAQ index -38 points

This article was written by Greg Michalowski at www.forexlive.com.