Market Review: February 17, 2026
Closing Recap
| Index | Up/Down | % Change | Last |
|---|---|---|---|
| DJ Industrials | 32.26 | 0.07% | 49,533 |
| S&P 500 | 7.07 | 0.10% | 6,843 |
| Nasdaq | 31.71 | 0.14% | 22,578 |
| Russell 2000 | -0.12 | 0.00% | 2,646 |
Market Overview
U.S. stocks opened lower following a weak overnight session, continuing last week's declines. However, the markets quickly rebounded, with the Nasdaq recovering over 400 points from its morning lows, driven by gains in the Financials and a significant reversal in Technology stocks. Notably, Amazon ended its nine-day losing streak, while Apple and Nvidia contributed to the tech sector's recovery. Despite a strong start to the year, Consumer Staples faced challenges, particularly after General Mills lowered its profit and sales outlook.
Economic Data
The NY Fed's Empire State new orders index reported a slight decline, while the NAHB Housing Market Index also fell short of expectations. Key indicators included:
- Empire State new orders index: +5.8 (February) vs. +6.6 (January)
- NAHB Housing Market Index: 36 (February) vs. 38 (consensus)
Commodities
Gold and silver prices saw significant declines, with April gold prices dropping by 2.78% and silver futures down by 5.68%. Oil prices also edged lower amid concerns over potential supply disruptions.
Currencies & Treasuries
Bond prices rose as Treasury yields fell, with the 2-year yield hitting its lowest level since September 2022. The U.S. dollar experienced a slight rebound after a four-month decline, attributed to various economic factors.
Sector News Breakdown
Consumer Staples
Consumer Staples had a strong start to the year, outperforming the S&P 500. However, General Mills' profit forecast cut raised concerns about consumer sentiment.
Financials
Financial stocks led the market, with several banks outperforming. TFC was upgraded to Overweight, reflecting positive growth expectations.
Biotech & Pharma
CMPS reported positive results for its psilocybin-based therapy, while OCUL's eye disease drug showed promising results despite initial market reactions.
Technology
Apple is accelerating its development of AI-powered devices, while other tech companies are also making strides in AI advancements.
Conclusion
Overall, the market showed resilience despite initial declines, with significant movements in various sectors indicating a complex economic landscape. Investors are closely monitoring earnings reports and economic indicators as they navigate the current market conditions.