Opening Comment — Tuesday, February 24, 2026
DJIA: 48,804.06, down 821.91
S&P 500: 6,837.75, down 71.76
NASDAQ: 22,627.27, down 258.80
Stocks higher ahead of consumer confidence
Stock futures are higher Tuesday morning ahead of today’s economic releases, including February consumer confidence and December home price data. Markets will also be looking forward to a slew of Federal Reserve (Fed) commentary today and President Donald Trump’s State of the Union address this evening. As of 7:16 AM ET, the Dow is rising 0.3%, while the S&P 500 is up 0.2%. The Nasdaq 100 is increasing 0.4% relative to fair value on the GLOBEX.
U.S. equities were lower on Monday as markets digested the latest tariff updates. The Dow was down 1.7%, while the tech-heavy Nasdaq Composite fell 1.1%. The S&P 500 decreased 1.0% with five of 11 sectors finishing in negative territory. The Consumer Staples sector was the top performer, rising 1.5%, while the Financials sector was the bottom performer, falling 3.3%.
On the data front, the Philadelphia Fed will release their February Nonmanufacturing Business Outlook Survey, with the diffusion index of current general activity forecasted to come in at negative 6.8, down from the prior month’s negative 4.2. The Federal Housing Finance Agency’s House Price Index is expected to show an increase of 0.3% month-over-month (MOM) in December, compared to the prior month’s increase of 0.6%. The S&P Cotality Case-Shiller 20-City Home Price Index for December is expected to register increases of 0.30% MOM and 1.30% year-over-year (YOY), versus the prior month’s increases of 0.47% and 1.39%, respectively. The Richmond Fed’s February Fifth District Survey of Manufacturing Activity will be released today, with the headline composite manufacturing index expected to improve to negative 5 from the prior month’s negative 6. The Conference Board’s reading of February consumer confidence is projected to come in at 87.1 versus the prior month’s 84.5. The finalized December reading of wholesale inventories is expected to show an increase of 0.2% MOM, similar to the initial reading, while June’s wholesale trade sales is expected to come in at 0.2% MOM versus the prior month’s increase of 1.3%. The Dallas Fed will release their Texas Service Sector Outlook Survey for February.
Across the pond, European stocks are mostly lower in mid-day trading as France’s manufacturing confidence declined more than expected, while business confidence slipped despite forecasts for it to remain steady in February.
Overnight in Asia, stocks were mixed as China’s one- and five-year Loan Prime Rates were left steady at 3.00% and 3.50%, respectively. South Korea’s Producer Price Index rose 1.9% YOY in January, similar to the prior month's increase. Meanwhile, the country’s consumer confidence rose in February.
In FOREX trading, the U.S. dollar is higher ahead of today’s data on U.S. consumer confidence.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.1% lower at $66.28/barrel.
In the metals complex, gold is 1.0% lower at $5,175.97/ounce following a strengthening U.S. dollar.