The Dow Jones Industrial Average (^DJI) was up 143.14 (+0.2890%) points today, reaching 49,676.33, while Dow Futures (YM=F) was up 135.00 (+0.2721%) points today at 49,747.00. The narrative driving the market on this Wednesday, February 18, 2026, is a surge in "risk-on" sentiment sparked by a major AI chip partnership between Nvidia (NVDA) and Meta Platforms (META). This deal reassured investors that Big Tech spending remains aggressive. Additionally, stronger-than-expected Industrial Production data, which grew 0.7%, signaled manufacturing resilience ahead of the afternoon release of the FOMC Meeting Minutes.
Leading the momentum, Amazon (AMZN) was up 2.33% to $205.71, benefiting from the tech rally. The financial sector also supported the index, with Goldman Sachs (GS) up 2.29% to $936.03 and JPMorgan Chase (JPM) up 1.10% to $310.52. Nvidia (NVDA) was up 2.13% to $188.83, continuing its role as the market's primary growth engine. Other notable gainers included Disney (DIS), up 1.97% to $107.48, and Salesforce (CRM), up 1.70% to $187.34.
Conversely, the shift into growth led to a rotation out of defensive stocks. 3M (MMM) was the day's biggest laggard, down 2.61% to $163.26, while Procter & Gamble (PG) was down 2.32% to $155.93. Retail giant Walmart (WMT) was down 1.94% to $126.35 as investors adjusted positions ahead of its earnings report. Other defensive names like Verizon (VZ), down 1.60% to $48.15, and Coca-Cola (KO), down 0.58% to $79.13, also struggled as the market favored cyclical recovery plays over traditional safety nets.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.