US Stock Market Today: S&P 500 Gains as Chipmakers Rally and Treasury Yields Climb Ahead of Fed Minutes

US stocks rose on Wednesday, 18 February 2026, as investors returned to large-cap technology and reacted to fresh economic data. At 10:43 AM in New York, the S&P 500 gained 0.8%, the Nasdaq 100 added 1.2%, and the Dow Jones Industrial Average rose 0.7%.

Markets also showed strength outside the US. The Stoxx Europe 600 advanced 1.2%, and the MSCI World Index climbed 0.9%. Oil rallied sharply, and gold traded above US$5,000 an ounce.

Tech stocks rebound as S&P 500 climbs and Nasdaq 100 leads gains

Buying interest focused on technology-linked areas after recent volatility tied to artificial intelligence expectations. Bloomberg data showed the Philadelphia Stock Exchange Semiconductor Index rose 1.4%, and a software-focused ETF gained 1.7% in the session. The Bloomberg Magnificent 7 Total Return Index increased 1.1%.

Futures pointed higher before the opening bell. S&P 500 futures rose 0.3% at 7:48 a.m. in New York, while Nasdaq 100 futures gained 0.4% and Dow futures added 0.1%.

Analysts cited a market rotation that has kept index moves modest while shifting leadership under the surface. Paul Stanley of Granite Bay Wealth Management said investors continue to sort winners from losers in AI, and he warned against assuming broad-based gains across all companies.

Traders also watched a technical level that has influenced sentiment for months. Bloomberg reported the S&P 500 has struggled to clear 7,000 since its push toward that mark in October, which has reinforced a more selective approach to risk.

US economic reports and Federal Reserve minutes keep rates in focus

Economic releases supported the view that growth has held up. The Federal Reserve Board reported that industrial production rose 0.7% in January. Manufacturing output increased 0.6%, utilities output climbed 2.1%, and mining output fell 0.2%. Capacity utilization rose to 76.2%.

Those figures landed as investors waited for minutes for the Fed’s January policy meeting. Bloomberg said traders looked to the minutes for clues on the bar for resuming rate cuts after the Fed rate paused following three straight reductions late in 2025.

Rates moved higher on the day. The 10-year US Treasury yield rose two basis points to 4.08%, while the 2-year yield increased three basis points to 3.46%. The 30-year yield added one basis point to 4.70%.

Currency markets showed a modest tilt toward the dollar. Bloomberg reported that the Bloomberg Dollar Spot Index rose 0.2%. The euro fell 0.3% to US$1.1824, sterling dipped 0.1% to US$1.3552, and the yen weakened 0.7% to 154.36 per dollar.

Oil jumps and gold tops US$5,000 as investors track geopolitics and hedges

Energy-led commodity moves. Bloomberg data showed West Texas Intermediate crude rose 3.2% to US$64.33 a barrel as traders assessed whether talks between the United States and Iran could reduce conflict risk.

Gold also rallied. Bloomberg reported bullion moved back above US$5,000 an ounce as dip buyers returned after a two-day decline, with thinner trading linked to Lunar New Year market closures across parts of Asia.

Digital assets posted smaller gains, with Bitcoin rising 1% to US$68,287.82, and Ethereum increased 0.3% to US$2,004.85.

Corporate highlights

• Meta Platforms agreed to deploy “millions” of processors from Nvidia over the next few years.

• Berkshire Hathaway cut its stake in Amazon by more than 75% and built a stake in The New York Times Company.

• Tesla revised its driver-assistance marketing and can continue selling vehicles in California without interruption.

• Alphabet announced new initiatives tied to expansion in India, including new fiber routes.

• Palo Alto Networks issued a weaker adjusted-earnings outlook for the quarter and full year, and shares fell.

• Powerlaw Corp. filed to sell shares, offering exposure to stakes in several private companies.

• The US Food and Drug Administration will review a Moderna flu shot that uses mRNA technology.

• Kraft Heinz said it will replace its North American president this month.

• Madison Square Garden Sports approved a plan to explore spinning off the New York Knicks and the New York Rangers into separate public companies.

• Uber Technologies plans to spend more than US$100m on fast-charging sites for autonomous vehicles in the US.

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