Morning Preview: February 26, 2026
Market Overview
U.S. futures are showing little change with the S&P 500 down by 3.25 points at 6,956, remaining within its overnight trading range. Despite strong earnings and guidance from Nvidia, technology stocks have not seen significant boosts, with Nvidia shares rising just under 1%. Nvidia's CEO, Jensen Huang, highlighted the "exponentially" growing demand for computing and the rapid adoption of AI agents.
Market Performance
- Dow: -31.00 points (0.06%) at 49,503
- S&P 500: -4.25 points (0.06%) at 6,955
- Nasdaq: -20.50 points (0.08%) at 25,361
Economic Calendar
Investors are awaiting the weekly jobless claims data due today, with estimates at 215K, followed by the producer price index report on Friday. The S&P 500 Index saw a solid gain of 0.8% on Wednesday, with the VIX Index dropping below 20, indicating reduced equity volatility.
Global Market Updates
In Asian markets, the Nikkei Index rose by 170 points to 58,753, while the Shanghai Index remained stable at 4,146. The Hang Seng Index fell by 384 points to 26,381. In Europe, the German DAX increased by 87 points to 25,263, and the FTSE 100 rose by 11 points to 10,818.
Commodity Prices
U.S. WTI crude futures fell by 1.6% to $64.38, marking the lowest level this week, as nuclear talks between the U.S. and Iran continue. Gold prices briefly surpassed $5,200, while the dollar faced broad pressure.
Earnings Reports
Out of 453 S&P 500 companies that have reported earnings this season, 74% have exceeded analyst forecasts, while 21% have missed expectations. Key earnings reports include:
- Nvidia: Q4 EPS of $1.62 vs. est. $1.53, with revenues of $68.1B vs. est. $66.2B.
- Salesforce: Q4 adj EPS of $3.81 vs. est. $3.04, with revenues of $11.2B.
- Urban Outfitters: Q4 adj EPS of $1.43 vs. est. $1.04, with revenues of $1.8B.
Sector News
Consumer Sector
Churchill Downs reported a Q4 adjusted EPS of $0.97, below the expected $1.03, while Puma announced the cancellation of its annual dividend and projected an operating loss for 2026.
Energy Sector
APA Corp. reported a decline in Q4 profit, with net income of $279M compared to $354M year-over-year.
Healthcare Sector
Agilent Technologies reported Q1 adjusted EPS of $1.36, slightly below estimates, while Chemed's Q4 results missed expectations.
Technology Sector
Nvidia's strong earnings contrasted with mixed results from other tech companies, including Salesforce and Snowflake, which reported better-than-expected revenues.
Conclusion
As the market opens, investors will be closely monitoring economic indicators and earnings reports to gauge the overall market sentiment and potential trends moving forward.