Morning Preview: February 24, 2026
Market Overview
U.S. futures are showing signs of recovery after a significant decline in various sectors, including financials, technology, consumer discretionary, and industrials. The downturn was primarily driven by concerns over potential disruptions caused by artificial intelligence (AI) and the repercussions of a recent U.S. Supreme Court ruling on tariffs. On Monday, major indices experienced declines exceeding 1%, with defensive sectors like Consumer Staples, Healthcare, and Utilities performing well, alongside precious metals and a drop in Treasury yields.
Sector Performance
The S&P 500 Software & Services Index, Banks Index, and the KBW Regional Banking Index were notably affected, each losing over 4%. This was attributed to a negative AI report from Citrini Research, which has led to increased volatility in tech stocks. Today, attention will be on AI developments, particularly an event hosted by Anthropic focusing on enterprise AI capabilities. The event is expected to showcase Claude's integration into various business functions, which has already impacted stocks in the tech and cybersecurity sectors.
Global Market Reactions
Asian markets reacted positively, with the Nikkei Index rising significantly as Japan returned from a long weekend, while the Shanghai Index also saw gains after the Lunar New Year break. Conversely, the Hang Seng Index experienced a decline. In Europe, the German DAX and FTSE 100 both saw slight decreases. Bitcoin continues to struggle, facing its steepest monthly drop since 2022, currently hovering around $63,100.
Market Closing Prices from Previous Day
- S&P 500 Index: -71.76 points, or -1.04%, closing at 6,837.75
- Dow Jones Industrial Average: -821.91 points, or -1.66%, closing at 48,804.06
- Nasdaq Composite: -258.80 points, or -1.13%, closing at 22,627.27
- Russell 2000 Index: -42.79 points, or -1.61%, closing at 2,620.99
Economic Calendar for Today
- 7:45 AM ET: ICSC Weekly Retail Sales
- 8:55 AM ET: Johnson/Redbook Weekly Sales
- 9:00 AM ET: Monthly Home Price Index M/M for December
- 10:00 AM ET: Consumer Confidence for February (est. 87.0)
- 1:00 PM ET: US Treasury to sell $69B in 2-year notes
- 4:30 PM ET: API Weekly Inventory Data
Earnings Calendar
Numerous companies are set to report earnings today, including:
- Before the Open: AHCO, AIN, AMT, APLS, ARVN, AS, AWI, AXGN, BCC, BNS, CECO, CIFR, CLVT, DOCN, ELAN, ESTA, EXPD, FERG, FIS, FWRG, HD, HRMY, HSIC, IMOS, INGN, OPVA, KDP, LTH, NRG, NXRT, OFIX, OPCH, PLNT, PTLO, RGEN, SHC, SHLS, TILE, WLK, WLKP, XHR
- After the Close: ABCL, AMC, ATEC, ATRO, AXON, BBIO, BXC, CAVA, CCC, CDNA, CLNE, CORT, CSGP, CWH, CYTK, DAWN, EOH, EVH, EXLS, EXPI, FLYW, FSLR, GDDY, GMED, GPOR, HPQ, HURN, IPAR, JAZZ, LAB, LCID, LTC, MATX, MELI, MMSI, MOS, MQ, MTDR, NVTS, O, PARR, PCVX, PRCT, PSTL, RCKY, REZI, RRC, RVLV, SEI, SKT, SPXC, SUI, SUPN, TALO, TEM, TMDX, TREX, UIS, UVE, VRRM, WDAY, ZETA
Key Events
President Trump is scheduled to deliver the State of the Union address today, which may influence market sentiment.
Sector News Breakdown
Highlights from various sectors include:
- Consumer: Home Depot reported a slight revenue decline but raised its dividend.
- Energy: Diamondback Energy raised its annual dividend and provided production guidance.
- Financials: Brighthouse Financial missed EPS estimates, while EverQuote exceeded expectations.
- Healthcare: BioMarin's revenue growth was driven by new patient initiations.
- Technology: Intel is investing in AI chip startup SambaNova.
Conclusion
The market is navigating through a complex landscape influenced by AI developments, economic data releases, and corporate earnings. Investors are advised to stay informed as the situation evolves.