New York, Feb 17, 2026, 12:12 EST — Regular session in progress.
- Midday, the Dow was up 0.12%, bouncing between about 49,170 and 49,732 earlier.
- Gains in financial stocks managed to counter declines from consumer and energy sectors, keeping the index roughly unchanged.
- Fed minutes land Feb. 18, with traders eyeing any hints. The U.S. GDP estimate follows on Feb. 20.
The Dow Jones Industrial Average managed to add 59.43 points, or 0.12%, to reach 49,560.36 by 12:07 p.m. EST on Tuesday, recovering from earlier declines as another round of AI-driven jitters moved through tech and software names. The blue-chip index bounced between 49,169.84 and 49,732.37. The S&P 500 and Nasdaq Composite hovered close to flat. 1
Markets have fallen into a choppy rhythm. Investors are weighing up if this burst of new AI technology spells a straightforward boost to productivity—or if it marks the early days of a much broader disruption to jobs and business models, something markets may not have fully reflected yet.
With the holiday-affected schedule, focus is tighter than usual. U.S. trading resumed after the New York Stock Exchange shut its doors Monday for Washington’s Birthday. 2
Financial stocks and several major consumer brands lent the Dow some stability. American Express climbed 2.49%, Visa added 2.08%, and Apple advanced 1.93%. Not all were winners—Walmart dropped 3.33%, Salesforce lost 2.56%. Because the Dow uses a price-weighted system, shifts in higher-priced stocks can have an outsized effect on the index. 3
Tech stocks continued to drag. Nvidia dropped 1.6%, Microsoft shed 1.3%. AMD gave up 5.2% and Intel retreated 2.2% following Alibaba’s rollout of its Qwen 3.5 model, aimed at managing complicated tasks on its own. Stash Graham, managing director and CIO at Graham Capital Wealth Management, called Alibaba’s AI launch “one of the variables weighing on markets today.” CME’s FedWatch tool put the probability of a 25-basis-point cut from the Fed in June at 52%. Masimo shares soared roughly 34% after Danaher said it would acquire the pulse-oximeter manufacturer for $9.9 billion including debt. Norwegian Cruise Line moved higher as Elliott revealed a stake. 4
For some investors, AI isn’t just a growth story—it’s shaping up as a major test for hiring costs and profit margins. “The conversation about AI rose to the top of market concerns,” noted Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Meanwhile, crude and gold prices edged lower as U.S.-Iran nuclear negotiations made headway, easing some of the haven demand. 5
Policy watchers are eyeing Wednesday: that’s when the Federal Reserve drops minutes from its Jan. 27-28 meeting—giving a window into the committee’s conversation that tends to sway rate forecasts. 6
New growth numbers land on Friday. According to the Bureau of Economic Analysis release calendar, the advance read on U.S. fourth-quarter 2025 GDP will hit on Feb. 20 at 8:30 a.m. EST. The same schedule also notes the personal income and outlays report, which features the personal consumption expenditures price index — the inflation measure the Fed tracks most closely — is set for March 5. 7
But that balance can turn on a dime. Should the minutes or GDP reignite “higher for longer” rate concerns, Treasury yields might spike, putting heat on equities—typically, pricey growth names are the first to feel the squeeze.
The Dow’s next move hinges on banks and a handful of consumer stocks—will their gains keep outpacing the pull from software and chip laggards? Eyes turn next to the Fed minutes, due Feb. 18, and the GDP numbers arriving Feb. 20, with traders waiting for a firmer read on direction.
