Stock futures decline as economic data approaches

Stock futures fell slightly ahead of important economic data expected later today. The S&P 500, Nasdaq 100, and Dow Jones Industrial Average futures suggest a lower opening for the market. Analysts forecast that housing starts will rise to an annualized rate of 1.39 million in February, up from 1.37 million in January. However, building permits are expected to drop to a rate of 1.45 million. Import and export price indexes may also show slight declines. Economic data will be released at 8:30 a.m., followed by industrial output growth at 9:15 a.m., which may slow to 0.2%. In stock news, BYD's shares jumped 4.1% after the company announced a new ultra-fast charger that can recharge a battery in five minutes. Tesla's shares are down about 3% in premarket trading. Google's parent company, Alphabet, saw its stock dip slightly after news surfaced about talks to buy cloud-security firm Wiz for approximately $33 billion. Nvidia's CEO, Jensen Huang, is scheduled to deliver a keynote speech at an AI developers conference today. Investors are eager to hear insights on future product demand. Nvidia's stock has dipped prior to the event. Tencent Music's shares rose 2.7% after reporting fourth-quarter earnings that exceeded expectations. The company's premium membership service is gaining popularity. Xpeng's U.S.-listed shares fell 1.7% after it reported narrowed losses and revenue in line with expectations.