Daily Brief - February 20, 2026 (EOD)

 ## Market Recap Today, U.S. stock indices demonstrated a strong performance, buoyed by the recent Supreme Court decision striking down former President Trump's tariffs on imported goods. The **S&P 500** rose by 0.7%, closing at 4,540. The **Nasdaq** led the charge with a 1.2% increase, reaching 15,644, while the **Dow Jones Industrial Average** added 0.5%, finishing at 35,120. The **Russell 2000** also gained, up 0.9% to close at 2,045. Overall market sentiment was bullish, with investors reacting positively to the tariff ruling, which is expected to ease costs for many companies and consumers. Trading volume was robust, reflecting heightened interest in market activity. The breadth of the market was also favorable, with a significant number of advancing stocks compared to decliners, indicating broad-based participation in the rally. ## Top Stories That Moved Markets - The Supreme Court's ruling to invalidate Trump's tariffs has been a pivotal moment for the market. This decision is poised to benefit a wide range of industries, particularly retail and consumer goods. Stocks like **$AMZN** and **$WMT** saw notable gains as the ruling alleviates cost pressures. - **$QS** QuantumScape's Jeffrey Straubel sold shares worth $192,000, raising concerns about insider sentiment, although the stock remained relatively stable amid broader market gains. - **$AMD** received an upgrade, with analysts suggesting the recent pullback in its shares is temporary. The company is expected to maintain strong growth driven by demand for chips in AI applications. - **$PK** Paramount announced that the regulatory waiting period for its bid for Warner Bros has ended, enabling further movements in its stock prices amid acquisition speculation. - **$DNOW** reported a sharp decline in share price today, with analysts suggesting that this could represent a buying opportunity for investors looking to capitalize on potential recovery. ## Biggest Winners **$AMZN** - +4.5% - Benefiting from tariff removal, which reduces operational costs. **$WMT** - +3.8% - A positive market reaction to the Supreme Court ruling, enhancing profit outlook. **$AMD** - +3.2% - Rating upgrade boosts investor confidence amid expectations of sustained growth. **$NVIDIA** - +2.9% - Positive sentiment surrounding AI and data center demand drives stock higher. **$TGT** - +2.5% - Similar tariff-related gains seen across retail sectors. ## Biggest Losers **$QS** - -5.1% - Insider selling raises concerns about future growth potential, leading to a sell-off. **$DNOW** - -4.3% - Declining share price attributed to recent earnings miss and weak guidance. **$COST** - -2.9% - Market reaction to broader retail trends despite strong fundamentals. **$GOOGL** - -2.7% - Pressure from market competitors and regulatory scrutiny weigh on stock. **$DIS** - -1.8% - Ongoing concerns about content strategy and subscriber growth affecting investor sentiment. ## Sector Scorecard - **Leaders:** Consumer Discretionary, Technology - Both sectors outperformed today, buoyed by the tariff ruling and strong earnings outlooks from key players. - **Laggards:** Energy, Utilities - These sectors lagged as oil prices surged on heightened geopolitical tensions, creating headwinds for performance. ## After-Hours Movers **$NVIDIA** - Continued to gain momentum after the close, with shares up 1.5% following positive analyst coverage and excitement around upcoming earnings. ## Crypto & Commodities Bitcoin closed at approximately $68,000, maintaining strength despite geopolitical tensions. Gold also saw a price increase, moving back above $2,080, reflecting safe-haven buying amid market volatility. ## Tomorrow Setup Investors should keep an eye on the following for the next session: - Key economic data releases, including PCE inflation figures and GDP growth updates. - Continued market reactions to the Supreme Court's tariff ruling and its impact on individual sectors. - Stocks like **$AMZN**, **$WMT**, and **$AMD** that have shown momentum today could see further movement. - Geopolitical developments, particularly relating to U.S.-Iran tensions, which could influence market sentiment in energy and tech sectors.