MARKET BRIEF: FEBRUARY 26, 2026 **Equities and Global Indices** U.S. equity markets closed Wednesday with significant momentum as technology leaders fueled a broad-based rebound. The **Nasdaq Composite** led the charge, jumping **1.3%** or **288.40 points** to finish at **23,152.08**. This surge effectively erased losses from earlier in the week. The **S&P 500** rose **0.8%** to reach **6,946.13**, marking its second consecutive gain. The **Dow Jones Industrial Average** added **307.65 points**, or **0.6%**, closing at **49,482.15**. Investor sentiment shifted toward "risk-on" following positive news in the semiconductor space and easing skepticism regarding enterprise software. **The Technology Catalyst** Nvidia remains the primary engine of market movement. Shares rose **1.4%** during the regular session before a blowout earnings report after the bell. The company reported record quarterly revenue of **$68.13 billion**, a **73%** year-over-year increase, with net income hitting **$43 billion**. Guidance for the next quarter surpassed expectations at **$78 billion**, far ahead of the **$72.6 billion** consensus. This performance has reaffirmed the durability of the high-performance computing build-out. Advanced Micro Devices (AMD) also saw a major rally of **8.8%** earlier in the week after securing a multiyear supply deal with Meta. Micron Technology has emerged as a standout, gaining **50%** year-to-date in 2026 due to tight supplies in high-bandwidth memory (HBM). **Fixed Income and Federal Policy** Treasury yields remained relatively steady as the market digested upbeat consumer confidence data. The **10-year Treasury yield** edged up to **4.05%** from **4.04%**. The **2-year note** sits near **3.48%**, while the **30-year yield** holds at **4.72%**. The Federal Reserve is widely expected to maintain the current target rate range of **3.50% to 3.75%** at the upcoming March 17-18 meeting. While inflation has cooled—dropping from **2.7%** in December to **2.4%** in January—policymakers are seeking further clarity before committing to additional cuts. **Commodities and Energy** Gold prices have advanced on safe-haven demand and a softer dollar. Spot gold is currently testing levels near **$2,800** per ounce, with analysts projecting a move toward **$4,500** by year-end if current macro conditions persist. In regional markets, MCX Gold Futures for February surged near **₹1,59,430** per 10g. Crude oil remains under pressure due to a supply-heavy environment. **WTI** is projected to average near **$59** for the year, while **Brent** is seen at **$62.23**. Despite geopolitical friction between Washington and Tehran, growing non-OPEC supply continues to limit upside potential. **Key Economic Indicators** * **US Consumer Confidence:** Improved beyond economist expectations. * **Retail Sales:** Remained flat in the latest December data vs. 0.4% growth forecasts. * **Mortgage Rates:** Qualified borrowers can now secure 30-year fixed rates under **6.00%**. * **Recession Odds:** Goldman Sachs analysts recently adjusted the U.S. recession probability to **45%**.