New York, February 18, 2026, 07:18 EST — Premarket
- Intel barely budged ahead of the bell, having slipped 1.3% at the close on Tuesday.
- Fed minutes land later Wednesday, and traders are on alert for anything that could shift rate-cut wagers.
- U.S. PCE inflation data is up next for investors, set for release February 20, and it’s definitely on their short-term watchlist.
Intel hovered just shy of $46.18 in early premarket action Wednesday, with shares barely moving while investors waited for the U.S. Federal Reserve minutes set for release later.
Shares dropped 1.3% Tuesday, closing at $46.18. That trailed both the modest gains in the broader market and results from big chip rivals.
At 2 p.m. EST, the Fed will release minutes from its January meeting. Investors will be scanning for clues about whether policymakers are recalibrating their stance on persistent inflation versus signs of a softer labor market.
“Money markets are betting on another pause next month, so investors are scanning the minutes for any hint on how long the central bank might sit tight,” said Aaron Hill, chief market analyst at FP Markets. Reuters
Nvidia shares got a boost after the company revealed a multi-year chip supply agreement with Meta Platforms, highlighting that hyperscalers remain eager to spend big on AI infrastructure.
Nvidia climbed roughly 1.2% ahead of the open; shares of Advanced Micro Devices slipped close to 2%.
Intel’s big overhaul isn’t cheap, so macro conditions are front and center for shareholders — especially since rate moves feed straight into how those future turnaround cash flows get valued. There’s nagging debate, too, about whether demand for data-center and AI business is scaling up quickly enough to balance out lingering weakness in PCs.
Last month, Intel projected first-quarter revenue and profit that fell short of Wall Street’s expectations, citing difficulties keeping up with demand for certain server chips powering AI data centers.
There’s a risk here: if the minutes come off more hawkish than traders are bracing for, Treasury yields could shoot up—clamping down on financial conditions, especially for capital-heavy stocks. Then there’s another layer, tied to the company itself. Any hiccups in rolling out new products or snags in manufacturing would put that performance gap with stronger competitors right back under the microscope.
After Wednesday’s minutes, all eyes shift to Friday, when the U.S. personal consumption expenditures (PCE) price index is due. This is the Fed’s go-to inflation measure, and investors are hoping it offers a clearer read on whether disinflation is back on track.
