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Stock Markets February 26, 2026

U.S. Markets Close Mixed as Financials, Energy and Industrials Offset Tech Weakness

Dow posts a fractional gain while S&P 500 and Nasdaq retreat amid divergent sector performance

By Maya Rios CRM AXP IBM NVDA MRK
U.S. Markets Close Mixed as Financials, Energy and Industrials Offset Tech Weakness
CRM AXP IBM NVDA MRK

U.S. equity benchmarks finished mixed on Thursday. The Dow Jones Industrial Average inched higher, supported by gains in financials, oil and gas, and industrials, while the S&P 500 and Nasdaq Composite closed lower as technology, telecoms and consumer goods lagged. Market breadth favored advancers on both exchanges, but several notable large-cap and small-cap names recorded sharp moves in either direction. Volatility ticked up and commodities and currency markets posted modest shifts.

Key Points

  • Major U.S. indices closed mixed: Dow up 0.04%, S&P 500 down 0.54%, Nasdaq down 1.18% - impacts equity market participants across sectors.
  • Sector divergence drove the session with gains in Financials, Oil & Gas and Industrials offset by weakness in Technology, Telecoms and Consumer Goods - relevant for sector-focused investors.
  • Market breadth favored advancing issues on both the NYSE and Nasdaq, though several individual stocks recorded extreme moves, highlighting idiosyncratic risk in smaller-cap names.

U.S. stock markets closed with a split tape on Thursday as sector rotations produced opposing forces across the major indices. At the New York Stock Exchange close, the Dow Jones Industrial Average rose 0.04%, while the S&P 500 slipped 0.54% and the NASDAQ Composite fell 1.18%.

Sector-level strength in Financials, Oil & Gas and Industrials helped lift parts of the market, yet those advances were not enough to counteract declines in Technology, Telecoms and Consumer Goods, which weighed on the broader indices.

Notable moves on the Dow

  • Salesforce Inc (CRM) led gainers on the Dow, rising 4.03% or 7.72 points to finish at 199.47.
  • American Express Company (AXP) added 2.52% or 8.23 points to close at 335.32.
  • International Business Machines (IBM) was up 1.85% or 4.40 points to 241.94 at the close.
  • On the downside, NVIDIA Corporation (NVDA) fell 5.47% or 10.69 points to end the session at 184.87.
  • Merck & Company Inc (MRK) declined 2.54% or 3.11 points to 119.35.
  • Caterpillar Inc (CAT) was down 1.78% or 13.68 points to 752.93.

S&P 500 winners and laggards

  • Caesars Entertainment Corporation (CZR) was the top gainer on the S&P 500, jumping 19.16% to 24.75.
  • Paramount Skydance Corp (PSKY) climbed 10.04% to settle at 11.18.
  • GoDaddy Inc (GDDY) gained 8.94% to close at 86.19.
  • Leading declines were Universal Health Services Inc (UHS), down 11.44% to 204.33, Corning Incorporated (GLW), which lost 6.31% to 150.30, and Enphase Energy Inc (ENPH), down 5.61% to 45.77.

Big swings on the Nasdaq

  • Small-cap and micro-cap names posted the session's largest percentage gains on the Nasdaq. Avalon Globocare Corp (ALBT) surged 114.48% to 1.09, Antelope Enterprise Holdings Ltd (AEHL) rose 108.90% to 1.08, and Rackspace Technology Inc (RXT) jumped 67.78% to 2.27.
  • Meanwhile, several Nasdaq-listed stocks posted steep declines: Quhuo Ltd (QH) fell 81.71% to 0.21, eLong Power Holding Ltd (ELPW) lost 55.09% to 0.15, and Thryv Holdings Inc (THRY) dropped 46.43% to 2.10.

Market breadth and individual stock notes

On the New York Stock Exchange, advancers outnumbered decliners by 1,710 to 1,026, with 87 stocks unchanged. On the Nasdaq, 1,805 stocks rose, 1,515 declined and 215 were unchanged.

Shares of Thryv Holdings Inc (THRY) fell to five-year lows, declining 46.43% or 1.82 to trade at 2.10 by the close.

Volatility, commodities and currencies

  • The CBOE Volatility Index, a gauge of implied S&P 500 option volatility, rose 3.96% to 18.64.
  • Gold Futures for April delivery was down 0.40% or 21.05 to 5,205.15 a troy ounce.
  • Crude oil for April delivery rose 0.14% or 0.09 to 65.51 a barrel.
  • The May Brent oil contract gained 0.52% or 0.37 to trade at 71.06 a barrel.
  • In currencies, EUR/USD was essentially unchanged, moving 0.10% to 1.18, while USD/JPY fell 0.21% to 156.11.
  • The US Dollar Index Futures was up 0.08% at 97.70.

Investment product mention

Market commentary at the end of the session included a brief promotional note regarding investment research tools and related services that position institutional-grade data and AI-powered analysis as ways to help investors identify opportunities. Those materials characterise such services as aids that do not guarantee winners but aim to increase the frequency of successful selections. Readers should evaluate any such product claims on their merits.

Risks

  • Elevated single-stock volatility and large percentage moves in smaller-cap and micro-cap names increase downside risk for speculative positions - impacts Nasdaq-listed small caps.
  • Rising implied volatility as measured by the CBOE Volatility Index suggests greater option market uncertainty that can affect hedging costs and short-term trading strategies - impacts derivatives and equity traders.
  • Declines in major technology and consumer goods names contributed to broader index weakness, posing potential downside risk to portfolios overweight in those sectors.

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