US Stock Market Today: S&P 500 Futures Dip As Rate Cut Expectations Cool

The Morning Bull – US Market Morning Update Thursday, Feb, 26 2026

US stock futures are mixed this morning, with S&P 500 contracts slightly softer while Nasdaq 100 and Dow futures hold near flat, as investors weigh stronger global growth signals against interest rate worries. Taiwan just reported a record current account surplus of about US$69.9b, powered by a US$63.6b goods trade surplus tied to AI and electronics exports, which underlines how demand for chips and hardware is feeding into corporate profits worldwide. At the same time, the US 10 year yield sits near 4.06% as expectations for quick rate cuts are scaled back, creating a headwind for growth, tech and real estate names but potentially supporting bank margins. The key question for investors is whether global manufacturing strength and AI demand can offset the pressure of higher borrowing costs, which puts chip related stocks, broader tech and interest rate sensitive sectors like utilities and property in the spotlight as the market opens.

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Top Movers

• Axon Enterprise (AXON) jumped 17.55% after a strong Q4 beat and upbeat 2026 revenue growth guidance.
• Coinbase Global (COIN) climbed 13.52% as crypto related sentiment improved despite recent analyst caution and target cuts.
• United Therapeutics (UTHR) gained 13.03% following Q4 earnings, new TreSMI inhaler details and multiple analyst price target hikes.

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Top Losers

• First Solar (FSLR) fell 13.61% after Q4 earnings, softer 2026 guidance, and multiple analyst downgrades and target cuts.
• CoStar Group (CSGP) declined 8.89% as bookings concerns and lower price targets followed its Q4 report and outlook.
• MercadoLibre (MELI) slid 8.05% after mixed Q4 earnings and a series of trimmed price targets around spending.

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On The Radar

Earnings from big financial, tech and energy names set the tone alongside a key export snapshot from South Korea.

• Berkshire Hathaway (BRK) reports fiscal 2025 results on Saturday, giving you a broad read on insurance and investment trends.
• Block (SQ) posts Q4 2025 numbers After Market today, with cash flow and transaction trends in sharp focus for fintech.
• Dell Technologies (DELL) shares Q4 2026 results this afternoon, offering a closer look at hardware demand and cost discipline.
• Energy earnings from Cheniere Energy (LNG) and Coterra Energy (CTRA) today highlight how large US producers are managing pricing and capital spending.
• South Korea exports year over year for February land on Sunday, giving you a fresh read on global trade and chip related demand.

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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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