New York, Feb 25, 2026, 14:02 EST — Regular session
- U.S. stocks rose, with chip and tech names in front ahead of Nvidia’s results after the bell.
- The day’s U.S. calendar featured weekly oil inventory data and a Treasury five-year note auction.
- Lowe’s, Workday, GoDaddy and Axon moved on forecasts and earnings.
U.S. stocks pushed higher on Wednesday, with the S&P 500 and Nasdaq at two-week highs as investors waited for Nvidia’s quarterly report after the close. The S&P 500 was up 0.67% and the Nasdaq 1.07% at 11:44 a.m. ET, while Nvidia gained 2.2% and the Philadelphia SE Semiconductor Index hit a record. “The focus on AI will continue into Nvidia’s earnings announcement,” Bob Savage, head of markets macro strategy at BNY, said. (Reuters)
The advance matters because traders are trying to decide whether the AI-led rally has another leg, or whether spending plans are starting to fray at the edges. “AI is the dominant theme and what’s moving the market more than anything right now,” said Aaron Schaechterle, a portfolio manager at Janus Henderson Investors. The yield on benchmark U.S. 10-year notes edged up to 4.046%; a basis point is one-hundredth of a percentage point. (Reuters)
Underneath the bounce, investors are still wrestling with policy noise and a rate path that has turned less clean than it looked late last year. A Reuters poll of equity strategists put the S&P 500 at 6,600 by end-2026, down from 6,800 in the prior survey, as trade uncertainty and slower progress on inflation hang over forecasts. (Reuters)
On the U.S. economic calendar, weekly oil inventory data landed with a thud. U.S. crude inventories rose by 16 million barrels last week, far above expectations for a 1.5 million-barrel rise, and oil prices slipped; Brent was down 12 cents at $70.65 a barrel and WTI down 26 cents at $65.37 at 11:16 a.m. ET. (Reuters)
The Energy Information Administration’s weekly petroleum report was dated Feb. 25 for the week ended Feb. 20, with the next release scheduled for March 4, the agency’s site showed. (U.S. Energy Information Administration)
Rates traders also had supply on the screen. The Treasury’s tentative schedule showed a five-year note auction on Wednesday, with settlement on March 2 — one of the midweek sales investors use as a read on demand for U.S. government debt. (U.S. Department of the Treasury)
In single stocks, Axon Enterprise jumped after the Taser-maker beat fourth-quarter profit estimates and issued a revenue outlook broadly in line with expectations. Axon flagged that tariffs on imports from Mexico and Vietnam were expected to dent gross margin, Reuters reported. (Reuters)
Workday slid after the enterprise software maker forecast fiscal 2027 subscription revenue below estimates and said it planned to cut about 1,750 jobs. The company has been leaning harder into AI tools, including through its acquisition of contract-management firm Evisort, Reuters reported. (Reuters)
GoDaddy fell after the internet services provider forecast annual revenue below Wall Street expectations, even as it markets new AI tools under its “Airo” brand. Rival Wix raised its revenue outlook, underscoring how competitive the small-business website market has become, Reuters reported. (Reuters)
In retail, Lowe’s forecast full-year sales and profit below estimates as customers delayed big home remodels in a sluggish housing market. Chief executive Marvin Ellison pointed to high interest rates and tariff uncertainty, and the stock fell about 5% in morning trading. (Reuters)
TJX, owner of TJ Maxx and Marshalls, painted a cautious picture on annual sales and profit but its shares rose after stronger holiday-quarter results. The off-price retailer also announced a new $3 billion share repurchase plan, Reuters reported. (Reuters)
But the session still runs through a tight choke point: Nvidia. If the chipmaker’s guidance disappoints — or if the market reads any softening in AI-related demand — the same tech-heavy leadership that lifted indexes could turn into a drag in a hurry.
What investors watch next is Nvidia’s report after the bell, along with results from Salesforce and Zoom and comments from Fed officials Thomas Barkin, Jeffrey Schmid and Alberto Musalem. Nvidia is expected to forecast a 64% jump in first-quarter revenue to about $72 billion, Reuters’ Morning Bid said, with investors also watching competition from Alphabet and AMD. (Reuters)
