Market Insights

Tech stocks lead market gains as investors navigate economic headwinds and geopolitical concerns.

Stocks ended a choppy four-session run in the green, with tech-led momentum earlier in the week prevailing over news of a slowing economy, sticky inflation, and geopolitical tensions.

The Standard & Poor’s 500 Index advanced 1.07 percent, while the Nasdaq Composite Index rallied 1.51 percent. The Dow Jones Industrial Average inched up 0.25 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.75 percent.¹ ²

Focus on Tech

Stocks kicked off the shortened trading week quietly, as continued investor angst over AI disruption in the software industry kept gains modest.³

Tech-led market momentum then picked up — including gains from lesser-known names — as investors digested minutes from the Fed’s January meeting.⁴

Stocks later came under pressure as investors fretted over geopolitical tensions in the Middle East and concerns about private credit in the financial sector.⁵

Markets rallied on Friday after the Supreme Court struck down White House tariffs. The news overshadowed a sticky inflation report and a disappointing update on fourth-quarter gross domestic product (GDP), which was affected by reduced federal spending during the government shutdown.⁶

Source: YCharts.com, February 21, 2026. Weekly performance is measured from Friday, February 13, to Friday, February 20. TR = total return for the index, which includes any dividends and other cash distributions during the period. Treasury note yield is expressed in basis points.

Friday Focus

All week, markets were watching Friday’s economic updates and were somewhat surprised by the timing of the tariff news.

GDP rose 1.4 percent in the fourth quarter, below the 2.5 percent expected and slower than the 4.4 percent pace in the third quarter. The slowdown reflected declines in federal and consumer spending.⁷

While the Supreme Court’s ruling on tariffs had been widely anticipated, investors were still surprised by the timing of the announcement on Friday. Markets appeared to welcome the decision, as companies may have greater pricing flexibility without tariffs.

This Week: Key Economic Data

Monday: Factory Orders (Dec); Fed Governor Christopher Waller speaks.

Tuesday: S&P Case-Shiller Home Price Index (Dec); Fed Presidents Austan Goolsbee (Chicago) and Raphael Bostic (Atlanta) speak; Fed Governors Christopher Waller and Lisa Cook speak; Wholesale Inventories (Dec); Consumer Confidence.

Wednesday: Richmond Fed President Tom Barkin speaks.

Thursday: Weekly Jobless Claims.

Friday: Producer Price Index (Jan); Construction Spending (Nov, Dec).

Source: Investor’s Business Daily – Econoday economic calendar; February 20, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. Forecasts or forward-looking statements are based on assumptions and may not materialize. Forecasts are also subject to revision.

This Week: Companies Reporting Earnings

Tuesday: The Home Depot, Inc. (HD); Constellation Energy Corporation (CEG); American Tower Corporation (AMT).

Wednesday: NVIDIA Corporation (NVDA); Salesforce, Inc. (CRM); The TJX Companies, Inc. (TJX); Lowe’s Companies, Inc. (LOW); Synopsys, Inc. (SNPS).

Thursday: Intuit Inc. (INTU); Monster Beverage Corporation (MNST); Dell Technologies Inc. (DELL); Warner Bros. Discovery, Inc. (WBD).

Friday: Berkshire Hathaway Inc. (BRK.A / BRK.B).

Source: Zacks, February 20, 2026. Companies mentioned are for informational purposes only and should not be considered a solicitation for the purchase or sale of securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.

"“I’m not embarrassed anymore about anything that people — that human beings — are going through.”

– Mary J. Blige

Eating to Your Heart’s Content

Deciding to change your diet can feel daunting. It can be challenging to determine which approach is “best” for you. Many fad diets come and go, but a few have endured — the most popular being the Mediterranean diet.

The Mediterranean diet is more of a lifestyle shift toward healthier eating patterns. Modeled after principles of Italian and Greek cuisine, which have remained relatively unchanged since the 1960s, this approach may be associated with lower rates of heart disease, type 2 diabetes, and other chronic illnesses.

The diet emphasizes fruits, vegetables, legumes, nuts, seeds, fatty fish, whole grains, and olive oil, while reducing red meat and dairy consumption. It is flexible. Restriction is not the goal; rather, it focuses on choosing more nutrient-rich foods over energy-dense options.

Food is life, and healthy choices can help support a healthier one. While the Mediterranean diet may be a good option for some, no single diet fits everyone’s lifestyle, preferences, or health needs. Discuss any dietary changes with your physician or a registered dietitian.

Tip adapted from Mayo Clinic.⁸

Piz Bernina

Swiss Alps, Switzerland

1. WSJ.com, February 20, 2026

2. Investing.com, February 20, 2026

3. CNBC.com, February 17, 2026

4. CNBC.com, February 17, 2026

5. CNBC.com, February 19, 2026

6. WSJ.com, February 20, 2026

7. WSJ.com, February 20, 2026

8. Mayo Clinic, August 25, 2025

Ann Konasiewicz

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Rockaway, NJ 07866-1214

Office: 973-627-3630

Cell: 201-707-3681

Important Disclosures

Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

Forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.

The market indexes discussed are unmanaged and are generally considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, or expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.

The Dow Jones Industrial Average is an unmanaged index generally considered representative of large-capitalization companies on the U.S. stock market. The Nasdaq Composite is an index of common stocks and similar securities listed on the Nasdaq stock market and is considered a broad indicator of the performance of technology and growth stocks. The MSCI EAFE Index, created by Morgan Stanley Capital International (MSCI), serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities considered representative of the stock market in general.

U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if sold prior to maturity, they may be worth more or less than the original price paid. Fixed-income investments are subject to various risks, including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications, and other factors.

International investments carry additional risks, including differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.

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