17 February 2026 - Daily Market Updates

Markets Daily | Broad Market Update

US equity futures point lower with technology leading declines as Wall Street returns from the holiday. European shares are broadly flat, while trading in Asia was mixed and thinned by Lunar New Year closures. Precious metals are softer, crude is edging down, and digital assets are under pressure.

Market snapshot (as of 06:12 am ET; levels subject to change)

Nasdaq 100 Futures: 24617.25 (-0.75%)
Stoxx Europe 600: 618.46 (-0.01%)
Nikkei 225: 56566.49 (-0.42%)
Spot Gold: 4922.87 (-1.39%)
Bitcoin: 67837.88 (-1.45%)

Global macro and policy

United Kingdom: The latest labor figures showed unemployment ticking up and pay growth easing. Interest-rate markets increased expectations for additional Bank of England cuts by year-end, weighing modestly on sterling and supporting gilts.
Europe: Policymakers continue to discuss ways to deepen the euro’s global footprint. While largely a long-run initiative, it underscores a push to strengthen financial resilience and liquidity in euro-denominated markets.
Japan: Government bond yields fell further following a well-received auction, extending the recent rally and reinforcing a lower-volatility backdrop for local rates.
Commodities and geopolitics: Oil prices drifted lower as traders monitored diplomatic developments in the Middle East alongside steady supply dynamics.

Equities: what’s moving

AI-driven swings continue to ripple across sectors. Recent headlines have triggered broad, sometimes indiscriminate selling in industries perceived as vulnerable to automation. That has been followed by sharp rebounds as investors differentiate likely winners from names with more durable cash flows. Expect elevated dispersion and ongoing factor rotations.
Corporate highlights:
- Leisure and travel: A major cruise operator advanced in early trading amid reports of an activist building a significant stake.
- Media and entertainment: Large-cap media names moved on talk that deal discussions could be revisited after a revised proposal.
- Health care: A diversified life-sciences company reportedly neared a multibillion-dollar purchase of a medical-technology firm; potential knock-on effects were seen across diagnostics peers.
- Japan financials: Shares in a leading brokerage’s parent slipped after local regulators began a probe into the unit’s activities.
- Shipping and logistics: Container shipping rallied after a takeover agreement valued a target at roughly $4.2 billion.
- Materials: Gold and silver miners traded lower alongside weakness in underlying metals.
Earnings on deck: Medtronic (pre-market); Palo Alto Networks and Cadence Design Systems (after the bell). Investors will focus on guidance quality, margin resilience, and any commentary on demand normalisation into mid-year.

Rates, FX and credit

US Treasuries: Yields are steady to slightly lower as participants balance slower inflation progress with moderating growth signals. Curve shape remains sensitive to incoming data and central bank communications.
Europe rates: Gilt yields fell on softer UK labor momentum; bunds were little changed in early dealings.
Foreign exchange: The dollar is mixed. Sterling eased on shifting BoE expectations; the euro was broadly stable; the yen firmed modestly in tandem with the JGB rally. Cross-asset volatility remains below recent peaks but above last year’s lows.

Commodities and digital assets

Gold slipped as real yields firmed and risk sentiment stabilized after last week’s swings. Industrial metals remain underpinned by ongoing interest in energy transition supply chains, even as short-term positioning looks crowded.
Crude benchmarks softened amid headline risk and range-bound fundamentals.
Bitcoin traded lower, mirroring broader risk-on/risk-off dynamics and profit-taking after recent gains.

The takeaway

Markets are navigating a push-pull between resilient earnings leadership and periodic de-risking tied to AI narratives, M&A headlines and evolving central bank paths. Expect choppy sessions, higher dispersion within sectors, and a renewed emphasis on balance-sheet strength and pricing power.
Near term, watch labor and inflation prints in major economies, guidance from today’s earnings slate, and any signals on policy timing from central bank speakers.

House view for clients

Maintain diversified exposure across regions and styles, with an eye on quality balance sheets and consistent free-cash-flow generation.
Use volatility to rebalance toward long-term targets; consider staggered entry points rather than single-date allocation shifts.
Ensure risk controls are in place around event-heavy periods.

Important information

This material is a general market update for information purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any financial instrument. Market data are indicative and subject to change.

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