Dow, S&P 500, Nasdaq futures slip amid Trump tariff fallout, with Iran-US talks on deck

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S&P 500

  • 6,909.51 (+0.69%)

Dow Jones

  • 49,625.97 (+0.47%)

NASDAQ

  • 22,886.07 (+0.90%)

Market close: February 20, 2026

Stock Market Today

  • US stock futures (Dow, S&P 500, Nasdaq) slipped Monday.
  • Uncertainty due to Supreme Court ruling against President Trump’s tariffs.
  • Iran-US talks are on deck.
  • Friday was volatile but markets ended the day and week with sizable gains.

EdgeUp

  • RingCentral: Stock near $40 premarket after a 34% jump Friday, driven by strong 2025 free cash flow ($530M) and positive 2026 guidance ($580M-$600M).
  • CrowdStrike: Stock steadied 0.6% premarket, recouping a small fraction of Friday’s 7.95% drop. Concerns over AI disruption (Anthropic’s Claude Code Security) rattling cybersecurity shares ahead of earnings.
  • Vanda Pharmaceuticals: Stock jumped ~33% premarket after late FDA approval of Bysanti on Friday. Investors watching for prescription materialization and potential short covering.
  • Novo Nordisk: Obesity drug CagriSema found less effective than Eli Lilly’s tirzepatide in trial, a setback in the weight-loss market race. Stock fell 13%.
  • Domino’s Pizza: Reports Q4 2025 earnings on February 23. Focus on US same-store sales momentum and DoorDash rollout impact. Consensus: $5.38 EPS on $1.52B revenue.
  • Samsung / Apple: AI boom is causing a massive memory shortage. Samsung benefits by raising HBM4 chip prices up to 30%, hitting an all-time high. Samsung could still be affected by the broader shortage.

Trading Strategies

  • Why I Trust the Close – Finding Clarity in February’s Pullback
    • February pullbacks reveal trader reactions to slowing momentum and rising uncertainty.
    • Closing prices reflect institutional intent, removing emotional noise from intraday fluctuations.
    • Focusing on the close helps manage risk objectively and maintain a disciplined trading process.

Top 5 Movers In Early Pre-Market

1) ACLX: Arcellx, Inc. (+77.65%) 2) VNDA: Vanda Pharmaceuticals Inc. (+38.89%) 3) SPT: Sprout Social, Inc. (+33.99%) 4) PBM: Psyence Biomedical Ltd. (+15.60%) 5) NCI: Neo-Concept International Group Holdings Limited (+14.29%)

Today’s Economic Dates

  • 8:00 AM ET: Fed governor Christopher Waller speaks
  • 10:00 AM ET: Factory orders (Dec.)

Friday’s Biggest Movers

1) ABTS: Abits Group Inc. (+86.50%) – No notable news. 2) RNG: RingCentral, Inc. (+34.40%) – Announced strong Q4 and FY 2025 financial results. 3) NCI: Neo-Concept International Group Holdings Limited (+32.67%) – No notable news.

Today’s Notable Earnings

  • LINC: Lincoln Educational Servs (Q4 2025, Before Market Open, Estimate: 0.420)
  • CNNE: Cannae Holdings (Q4 2025, After Market Close, Estimate: -0.370)
  • BOOM: DMC Glb (Q4 2025, After Market Close, Estimate: -0.130)

Parting Thoughts

  • "Risk means more things can happen than will happen." – Elroy Dimson

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