February 19, 2026

Markets:

U.S. stock futures are lower Thursday morning, trimming some of yesterday’s gains as weaker guidance from Walmart pressures sentiment. At the same time, geopolitical tensions between the U.S. and Iran continue to simmer, keeping traders cautious.

Crude oil remains a focal point. West Texas Intermediate is up more than 1%, trading above $66 per barrel as the standoff tied to Iran’s nuclear program escalates. Rising energy prices are adding another layer of uncertainty to the market backdrop.

Wall Street closed higher in the prior session, led by strength in the “Magnificent Seven” tech names along with solid participation from financials and energy stocks.

Portfolio:

We enter today holding positions in CIFR, TGB, SD, and CORZ.

We are still firmly in consolidation mode. That’s important. Breakouts from ranges like this tend to be powerful — but until then, patience wins. Do not chase intraday noise. Trade the setups.

With NVDA earnings next week, we expect the market to remain range-bound into that catalyst.

Today’s economic releases include:

Initial Jobless Claims

February Philadelphia Fed Manufacturing Index

Pending Home Sales

Fed Balance Sheet data

Additionally, the Federal Reserve Bank of New York is conducting a scheduled reserve management purchase of up to $8 billion in Treasury bills. These liquidity injections are typically supportive for equities and can help stabilize volatility.

The key question: how will markets digest today’s data and headlines alongside the added liquidity?

Keep an eye on the VIX for potential spikes, especially if oil accelerates higher or economic data surprises.