New York, Feb 17, 2026, 12:12 EST — Regular session.
- The Dow rose 0.12% midday after swinging between roughly 49,170 and 49,732.
- Financials helped offset losses in consumer and energy names, leaving the index near flat.
- Traders are watching Fed minutes on Feb. 18 and the U.S. GDP estimate due Feb. 20.
The Dow Jones Industrial Average edged up on Tuesday, clawing back early losses as investors weighed another day of AI-driven unease across tech and software. The index was up 59.43 points, or 0.12%, at 49,560.36 by 12:07 p.m. EST, after trading between 49,169.84 and 49,732.37. The S&P 500 and Nasdaq Composite were little changed. (Google)
Choppy trade has become the default setting. Investors are still trying to work out whether a wave of new AI tools is mostly a productivity story, or the start of a wider shakeout in jobs and business models that markets have not priced in yet.
The shortened week is also compressing attention. U.S. markets came back after the New York Stock Exchange closed on Monday for Washington’s Birthday. (New York Stock Exchange)
Inside the Dow, gains in financials and a handful of big consumer names helped steady the index. American Express was up 2.49% and Visa gained 2.08%, while Apple rose 1.93%; Walmart slid 3.33% and Salesforce fell 2.56%. The Dow is price-weighted, so moves in higher-priced shares can swing the index more than their size would suggest. (MarketScreener)
Tech remained the soft spot. Nvidia slipped 1.6% and Microsoft fell 1.3%, while AMD dropped 5.2% and Intel lost 2.2% after Alibaba unveiled its Qwen 3.5 model, designed to execute complex tasks independently. “The Alibaba AI product is one of the variables weighing on markets today,” said Stash Graham, managing director and CIO at Graham Capital Wealth Management; CME’s FedWatch showed traders putting the odds of a June rate cut of 25 basis points (0.25 percentage point) at 52%. Elsewhere, Masimo jumped about 34% after Danaher agreed to buy the pulse-oximeter maker for $9.9 billion including debt, and Norwegian Cruise Line climbed after Elliott disclosed a stake. (Reuters)
Some investors framed the AI story less as a boom and more as a stress test for hiring and margins. “The conversation about AI rose to the top of market concerns,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Crude oil and gold slipped as U.S.-Iran nuclear talks showed progress, cooling demand for havens. (Reuters)
The next policy catalyst lands Wednesday. The Federal Reserve is set to publish minutes from its Jan. 27-28 meeting on Feb. 18, a closer look at the debate inside the committee that often shapes rate expectations. (Federal Reserve)
Friday brings fresh growth data. The Bureau of Economic Analysis release calendar shows the advance estimate of U.S. fourth-quarter 2025 GDP due Feb. 20 at 8:30 a.m. EST; it also lists the personal income and outlays report — including the personal consumption expenditures price index, the Fed’s preferred inflation gauge — for March 5. (Bureau of Economic Analysis)
But the balance can flip fast. If the minutes or GDP revive “higher for longer” worries on rates, Treasury yields could push up and pressure equities again, with the most expensive growth stocks usually taking the first hit.
For the Dow, the near-term question is whether strength in banks and select consumer names can keep offsetting the drag from software and chips. Traders now look to the Fed minutes on Feb. 18 and the GDP report on Feb. 20 for the next clear signal.
