New York, Feb 18, 2026, 13:27 EST — Regular session in progress.
Stocks in the U.S. moved higher Wednesday, helped by steadier Big Tech names and a jump in Nvidia after its new supply agreement with Meta Platforms. By 11:25 a.m. ET, the Dow Jones Industrial Average added 280.48 points, or 0.56%. The S&P 500 was ahead 0.86%, while the Nasdaq Composite climbed 1.31%. Traders kept an eye on the Federal Reserve minutes set for release later in the day. 1
That’s significant right now, with investors locked in debate over whether big bets on artificial intelligence are going to pay off quickly enough to warrant the current price tags. Even a slight change in rate outlook or appetite for risk has sent AI stocks moving sharply. 2
There’s a rush of U.S. data on Wednesday, starting with durable goods orders and housing starts at 8:30 a.m. ET, followed by industrial production at 9:15 a.m. The Fed’s minutes drop at 2 p.m. ET, and a 20-year Treasury auction is slated for later. The minutes, which come out about three weeks after each policy meeting, should give investors a sense of whether officials are leaning harder on inflation concerns or worries over slowing growth. 3
Core capital goods orders — often used to gauge business equipment demand, excluding aircraft and defense — gained 0.6% in December. Shipments increased a bit more, up 0.9%, pointing to steady buying as the year wrapped up. Total durable goods orders dropped 1.4%, largely because of fewer aircraft bookings. “The ongoing tech investment boom is one of the key factors underlying our sanguine outlook for equipment spending this year,” said Bernard Yaros at Oxford Economics. 4
Factory output climbed 0.6% in January, while total industrial production picked up 0.7%. Capacity utilization moved up to 76.2% — that’s a sign the industrial sector is pushing a bit harder. Federal Reserve numbers showed stronger production, yet manufacturers stuck with lean payrolls. 5
Housing was a weaker spot. Single-family starts managed a 4.1% bump in December, but permits for upcoming single-family builds dropped 1.7%. Steeper mortgage rates and rising construction costs are still putting pressure on the sector. 6
The AI push may be spilling into more general capital spending, according to some economists. “Firms outside of the tech space began to re-engage late last year,” said Stephen Stanley, chief U.S. economist at Santander U.S. Capital Markets. 7
Nvidia picked up 2.3% to $189.19. Meta hovered near flat, closing at $642.18. Cadence Design Systems climbed 9.4%, landing at $310.09, while shares of Palo Alto Networks dropped 5.6% to $154.39. Global Payments surged 16.8% to $81.46. Moderna was up 5.1%, ending at $46.17. Analog Devices gained 2.1%, closing at $344.45.
But rates action hasn’t wrapped up yet. The 10-year Treasury yield hovered near 4.08%. U.S. crude jumped over 3%, landing close to $64 a barrel—throwing another variable into the Fed minutes’ inflation mix. 8
Once the minutes are out, focus shifts straight to Friday’s numbers. The BEA drops its early read on Q4 GDP, along with December’s personal income and outlays; that batch has the PCE price index—the Fed’s preferred gauge on inflation. Traders will be watching those figures to gauge the setup heading into next week. 9
