Market Brief: Global Equity and Commodity Overview **February 19, 2026** Global financial markets are navigating a period of heightened sensitivity as investors balance corporate earnings resilience against shifting central bank expectations and geopolitical tensions. Following the release of the latest Federal Open Market Committee (FOMC) minutes, market participants are reassessing the timing of potential interest rate adjustments, with attention firmly fixed on upcoming inflation data. Equity Market Performance U.S. benchmarks demonstrated a cautious upward trajectory in the most recent sessions. The **Dow Jones Industrial Average** remains positioned near the **49,662.66** level, while the **S&P 500** has climbed to approximately **6,881.31**. The **Nasdaq Composite** has shown particular strength, rising to **22,753.64**, driven by a sustained rebound in large-cap technology shares. In India, the **NIFTY 50** closed at **25,819.35**, gaining **93.95 points** (0.37%). This growth was supported by strong performance in the metal and insurance sectors. Conversely, the technology sector faced headwinds, with major players like Wipro and Infosys seeing declines. The **BSE Sensex** recently ended its losing streak, recovering to close above the **83,277** mark. Economic Indicators and Monetary Policy The global economic outlook for 2026 remains steady with a projected growth rate of **3.3%**, according to the latest IMF updates. In the United States, January headline inflation eased to **2.4%**, marking its lowest level since 2021. Despite this cooling trend, the Federal Reserve maintained interest rates at **3.75%** in February. Markets currently price in a **60%** probability of a rate cut by March, though some analysts suggest July is a more likely timeframe given the resilience of the labor market. Commodities and Currencies Energy markets are experiencing volatility due to ongoing tensions in the Middle East. **Brent Crude** is currently trading around **$67.72** per barrel, while **WTI Crude** saw a recent rally to **$64.04**. These fluctuations are closely tied to security developments in the Strait of Hormuz. Precious metals continue to serve as a hedge against uncertainty. **Gold** prices are hovering near **$5,047.14** per ounce, reflecting a modest year-to-date gain of **14.71%**. In domestic Indian markets, gold (24-carat) is priced at approximately **₹1,27,152** per 8 grams in major metros. The currency landscape shows the **USD/INR** pair stabilizing at **₹90.56**, providing a level of macroeconomic comfort for Indian exporters despite broader global volatility. Sector Trends and Key Events Technology continues to be the primary driver of market sentiment. While innovation remains a catalyst, concerns over the high cost of infrastructure and sector-wide disruptions have led to increased selectivity among investors. In the banking and financial services sector, private and public sector banks have shown resilience, with **Bank Nifty** rallying over **760 points** to reach **60,949.10**. Investors are also monitoring the impact of the **Union Budget 2026**, which introduced targeted tariff reductions to bolster domestic manufacturing and clean energy. Looking ahead, the market will focus on the **Personal Consumption Expenditures (PCE)** price index and advanced **GDP** growth estimates to gauge the next directional move for global equities.