Market Analysis Summary - February 24, 2026

Overview

U.S. stocks experienced a rebound after mid-session trading on February 24, 2026, with the Nasdaq 100 climbing by 1%. This recovery was attributed to a reassessment of the risks associated with AI disruption in enterprise software, following a significant product event by Anthropic.

Key Developments

• Anthropic's Claude Event: The event showcased Claude as an orchestration layer for businesses, alleviating fears that AI would replace existing tools. This led to a broad recovery in software stocks.
• AMD's Surge: AMD shares surged by 10% after securing a major deal with Meta to deploy 6GW of AMD GPUs in their AI data centers, which positively influenced market sentiment.
• Home Depot's Earnings: Home Depot's stock rose by 3% after exceeding earnings projections for the first time in a year, providing additional support to the Dow Jones Industrial Average.

Market Indices Performance

As of 19:30 GMT, the S&P 500 was up 0.68%, the Nasdaq Composite increased by 0.91%, and the Dow Jones added 382.55 points (0.78%). This recovery followed a period of volatility driven by concerns over AI disruption.

Technical Analysis

S&P 500 Index

The March E-mini S&P 500 Index futures showed a positive trend after testing a key retracement zone. The index faces resistance at the 50-day moving average, which is crucial for determining the near-term market direction.

Nasdaq 100 Index

The March E-mini Nasdaq 100 Index futures are currently facing a long-term downtrend line. A breakthrough above this resistance could lead to increased momentum, while failure to do so may result in a decline towards the 200-day moving average.

Conclusion

The market's recovery is indicative of a shift in sentiment regarding AI's impact on enterprise software, driven by positive developments from key players like Anthropic and AMD. Traders are advised to monitor key resistance levels in the S&P 500 and Nasdaq indices to gauge future market movements.