US Stock Market Today: S&P 500 Futures Slip As Rate Cut Timing Questions Grow

The Morning Bull – US Market Morning Update Tuesday, Feb, 17 2026

US stock futures are slightly weaker this morning, with E-mini S&P 500 contracts down about 0.25% and Nasdaq futures off around 0.6%, as investors weigh softer inflation against a cooling growth pulse. The US 10 year Treasury yield is sitting near a 2 and a half month low, which reflects hopes that the Federal Reserve may cut interest rates, something that could lower mortgage and borrowing costs. At the same time, recent payroll and unemployment figures suggest the job market is no longer running hot. The key question now is whether lower borrowing costs can arrive soon enough to support rate sensitive areas such as real estate and utilities, without squeezing economically sensitive sectors such as smaller companies and consumer focused businesses.

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Top Movers

• Rivian Automotive (RIVN) jumped 26.64% after multiple analyst upgrades, as well as fresh attention on US joint venture talks.
• Coinbase Global (COIN) gained 16.46% following its earnings release and the completion of a US$1.7b buyback.
• Nebius Group (NBIS) rose 9.23% after reporting higher sales and a swing to full year net income.

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Top Losers

• Flutter Entertainment (FLUT) fell 11.46% after investors reacted to recent trading and liquidity conditions.
• Constellation Brands (STZ) declined 8.04% following announcements about upcoming leadership and governance changes.
• NVR (NVR) slipped 7.27% after UBS reduced its price target for the homebuilder.

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On The Radar

Earnings will drive the next few sessions, with a spotlight on big box retail, chipmakers, and energy names.

• Retail bellwether: Walmart (WMT) reports Q4 2026 on Thursday, giving a broad read on US consumer spending patterns.
• Semiconductors: Analog Devices (ADI) posts Q1 2026 on Wednesday, highlighting demand trends across industrial and communications customers.
• Online services: Booking Holdings (BKNG) reports Q4 2025 on Wednesday, updating on travel related booking volumes and profitability.
• US energy complex: Occidental Petroleum (OXY) and Devon Energy (DVN) report Q4 2025 today, with investors focused on capital discipline.
• Utilities focus: Southern (SO) and Consolidated Edison (ED) report on Thursday, important for income oriented, rate sensitive portfolios.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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