Market Summary - February 17, 2026
US Market Overview
The US market opened under pressure following a holiday, with investors expressing concerns primarily about the technology sector. Valuation pressures are attributed to fears regarding traditional business models and systemic risks linked to excessive capital expenditures (CAPEX). Additionally, geopolitical tensions between Iran and the US continue to loom, further complicating market sentiment.
Futures for major indices showed a downward trend before and shortly after the market opened, with the US100 index declining over 0.6%. The DOW futures exhibited a more modest decline of around 0.3%.
Macroeconomic Data
- Canada's January Inflation: The Consumer Price Index (CPI) fell to 2.3%, indicating a deeper slowdown in price growth than anticipated.
- US Employment Data: The ADP report indicated a job growth of 10,300, which, while an increase from previous figures, remains below the average.
- NY Empire State Index: The manufacturing sector index fell to 7.1 from 7.7, surpassing expectations of 6.4.
- CB Employment Trends Index: This index rose to 105 from a previous reading of 104.27.
Technical Analysis
The US100 index is facing challenges in regaining momentum, with a recent rebound from the 61.8% Fibonacci level being quickly reversed. The index remains below the 50 and 100 EMAs, with a critical support level at the 50% Fibonacci. A significant drop below approximately 24,500 could lead to further corrections towards the 200 EMA and the 61.8% Fibonacci level.
Company News
- Norwegian Cruise Line (NCLH.US): Shares rose about 6% following reports of Elliott Investments acquiring a significant stake.
- Zim Integrated Shipping (ZIM.US): The stock surged 35% after the announcement of its acquisition by Hapag-Lloyd AG.
- Warner Bros (WBD.US): Shares increased by 2% amid reports of renewed acquisition talks with Paramount and Skydance.
- Palo Alto Networks (PANW.US): The cybersecurity firm is set to release its quarterly results, with expectations of an EPS between USD 9.3 and 9.4 and revenues of at least USD 2.5 billion.