Daily Market Insights - February 23, 2026

Last Updated: 23-Feb-26 08:00 ET

Market Overview

Equity futures indicate a lower opening for the week, following solid gains in the previous week amidst volatility. S&P futures are down by 33 points, while Nasdaq futures are down by 166 points.

Key Developments

• The Supreme Court ruled against President Trump's IEEPA tariffs, prompting a response to raise global tariffs to 15% for 150 days.
• The EU plans to freeze ratification of the trade deal with the U.S. until further details on trade policy are provided.
• Upcoming nuclear talks between the U.S. and Iran are scheduled for Thursday.

Economic Data

Today's economic data release includes December Factory Orders at 10:00 a.m. ET, with a consensus estimate of 0.9%.

Corporate News

• Gilead (GILD) is acquiring Arcellx (ACLX) for $115 per share, totaling an equity value of $7.8 billion.
• Disappointing results from Novo Nordisk's new weight-loss drug have negatively impacted its stock, while Eli Lilly (LLY) shares rose.
• NVIDIA (NVDA) is set to introduce new chips for laptops this year.

International Market Updates

Asian markets showed mixed results, with South Korea's Kospi hitting a record high and Hong Kong's Hang Seng gaining 2.5%. Major European indices are mixed, with Spain's IBEX showing strength due to bank performance.

Market Sentiment

The market is navigating through macroeconomic challenges, with the S&P 500 closing above its 50-day moving average. The week has seen a shift in momentum, particularly for the Nasdaq Composite, which ended a five-week losing streak.

Conclusion

Overall, the market is showing resilience despite policy and inflation challenges, with a busy week of earnings reports ahead, including NVIDIA's results.