Log In Get Started

State of the Market

Daily market briefings published at Open, Midday, and Close. Structured analysis of price action, macro context, sector leadership, and cross-asset signals.

These reports document what the market is doing right now, not predictions. They provide context, structure, and continuity throughout the trading day.

Market Reports

Three reports per trading day: Open, Midday, and Close

All Dates Today Yesterday
Midday Update February 20, 2026 • 12:03 PM
Tech shoulders the tape at midday as gold rips, oil cools, and yields firm

Tech shoulders the tape at midday as gold rips, oil cools, and yields firm

A hawkish tint in the Fed minutes, a noisy tariff backdrop, and renewed AI spend keep leadership narrow. Energy slips despite geopolitical heat while haven bids crowd into metals.

  • Megacap tech leads midday as QQQ outperforms and SPY grinds higher, while IWM lags but stays green.
  • Treasury yields firm across the curve, pressuring TLT and IEF even as inflation expectations remain anchored in the mid‑2% range.
  • Gold and silver surge with GLD and SLV sharply higher, while USO slips as crude gives back part of its geopolitical risk premium.
SPY QQQ DIA IWM XLK +43 more
Read Report
Market Open February 20, 2026 • 9:30 AM
Risk gets repriced into the bell: stocks softer, oil and gold firm, bonds catch a bid

Risk gets repriced into the bell: stocks softer, oil and gold firm, bonds catch a bid

Tech wobbles again, energy steadies the tape, and Treasurys recover after a two-day yield climb. The Fed’s inflation pulse and geopolitical pressure keep traders cautious.

  • Stocks point lower into the open while energy, utilities and industrials show relative strength.
  • Treasurys catch a bid after a two-day rise in yields, with the 10-year near 4.09% and the 30-year around 4.71%.
  • Gold and silver advance despite a firm dollar backdrop, signaling safety demand.
SPY QQQ DIA IWM XLK +42 more
Read Report