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 Pulse: Rotational

Updated 12:30 PM ET

Megacap tech and S&P drift higher while small caps and cyclicals lag; gold and utilities bid, bonds weakening.

SPY ↑

QQQ ↑

DIA ↓

IWM ↓

TLT ↓

Market Reports

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

All Dates Today Yesterday

Market Close February 19, 2026 • 4:02 PM

Closing Tape: Oil bid, dollar firm, and the S&P slips anyway

Energy and defense caught the geopolitical airflow, while big tech still looked heavy under a 10-year yield parked near 4%.

Major indexes slipped at the close, with SPY, QQQ, and DIA lower while IWM finished higher.
Energy leadership was decisive, with XLE up and USO surging alongside U.S.-Iran tension headlines.
Utilities outperformed, a quiet tell of a market still seeking ballast.

Midday Update February 19, 2026 • 12:03 PM

Energy climbs as tech slips; stocks edge lower while oil heats the tape

Fed minutes keep a hawkish shadow over rates, jobless claims firm up the labor picture, and traders pivot toward oil, industrials, and utilities as geopolitical risk rises.

Energy leads as oil surges on rising U.S.–Iran tensions; tech and consumer discretionary lag.
Indexes drift lower at midday while sector rotation intensifies toward industrials and utilities.
Fed minutes keep a hawkish option on the table if inflation stalls, curbing rate-cut enthusiasm.

Market Open February 19, 2026 • 9:27 AM

Oil and metals muscle higher into the bell as tech steadies and yields firm

A commodity-led open meets a 4% 10-year and hawkish Fed minutes. Energy and banks lean higher, defensives sag, and small caps trail while gold and silver rip.

Energy and metals lead premarket as oil spikes on U.S.–Iran tension headlines
SPY and QQQ point higher, while DIA and IWM lag slightly into the open
Treasurys slip, with the 10-year near 4.05% after jobless claims firm and Fed minutes keep a hawkish option alive