Opening Comment — Tuesday, February 17, 2026
DJIA: 49,500.93, up 48.95
S&P 500: 6,836.17, up 3.41
NASDAQ: 22,546.67, down 50.48
Stocks lower to start off week
Stock futures are lower Tuesday morning ahead of the release of today’s February Empire State Manufacturing Survey and home builder sentiment. Markets are also looking ahead to major economic data out later this week, including a first look at fourth-quarter gross domestic product (GDP), December’s Personal Consumption Expenditures Deflator, and preliminary February purchasing managers’ indexes. Investors will also await developments on a potential resolution to the partial government shutdown effecting the Department of Homeland Security. As of 7:19 AM ET, the Dow is decreasing 0.1%, while the S&P 500 is down 0.2%. The Nasdaq 100 is falling 0.6% relative to fair value on the GLOBEX.
U.S. equities were mixed on Friday as the headline Consumer Price Index (CPI) registered a softer-than-expected increase in January, with the inflation rate decelerating to 0.2% month-over-month (MOM) and 2.4% year-over-year (YOY). The core CPI (which excludes food and energy) increased 0.3% MOM and eased to 2.5% YOY in January, both in line with expectations. The Dow was up 0.1%, while the tech-heavy Nasdaq Composite fell 0.2%. The S&P 500 increased 0.1% with seven of 11 sectors finishing in positive territory. The Utilities sector was the top performer, rising 2.7%, while the Communication Services sector was the bottom performer, falling 0.8%.
On the data front, the Federal Reserve (Fed) Bank of New York will release February’s Empire State Manufacturing Survey, with the headline general business conditions index expected to come in at 6.2 from the prior month’s 7.7. The National Association of Home Builders’ Housing Market Index is forecasted to increase to 38 for February from the prior month’s 37.
Across the pond, European stocks are higher in mid-day trading as the U.K.’s three-month average unemployment rate through December rose to 5.2%, while YOY growth in average weekly earnings eased to 4.2%. Meanwhile, the country’s jobless claims and claimant count rate increased in January. The ZEW measures of economic growth expectations declined for the eurozone and Germany in February.
Overnight in Asia, stocks were mixed as many markets were closed for the Lunar New Year. Japan’s Tertiary (service) Industry Index showed a decline of 0.5% MOM in December, compared to prior month’s revised 0.4% decrease. The prior day’s data showed Japanese GDP preliminary growing at a 0.2% pace.
In FOREX trading, the U.S. dollar is higher ahead of this week’s major U.S. economic data releases.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 1.9% higher at $64.08/barrel.
In the metals complex, gold is 1.3% lower at $4,925.75/ounce following a strengthening U.S. dollar.