Weekly Market Insights - NYSE MAC Desk

Published on 2/20/26

Market Overview:

The week was marked by significant events, including a Supreme Court ruling that struck down President Trump's IEEPA tariffs, leading to a muted market response. Major indices saw gains, with the DOW up 231 points, S&P 500 up 48 points, and Russell 2000 slightly down by 1 point. Notably, gold prices surged by $125, while Bitcoin rose by $822.

Key Highlights:

• The USA women's hockey team won a gold medal in a thrilling overtime victory.
• President Trump announced a new 10% global tariff following the Supreme Court's decision.
• Financial markets showed resilience, with equities moving higher despite geopolitical uncertainties.
• Volatility was prevalent, particularly during options expiration, with the S&P 500 fluctuating between its 50 and 100-day moving averages.

Sector Performance:

Growth sectors outperformed value for the week, with technology and consumer discretionary sectors leading the gains. However, defensive sectors like consumer staples faced declines, particularly after disappointing earnings from Walmart.

Global Markets:

European markets saw gains of approximately 2%, while Asian markets had mixed results, with Japan's Nikkei slightly down. Commodities experienced fluctuations, with oil prices rising due to geopolitical tensions and precious metals rallying after the Supreme Court decision.

Economic Data:

Key economic indicators included a higher-than-expected PCE print and a disappointing Q4 GDP report. Job data remained stable, with initial claims falling and ADP reporting a slight increase in jobs.

Looking Ahead:

Next week will feature President Trump's State of the Union address and earnings reports from major companies like Nvidia and Salesforce. Economic data releases will include January PPI and various regional Fed surveys.