US Stock Market Today: S&P 500 Futures Nudge Higher On Firm Growth Higher-Rate Worries

The Morning Bull – US Market Morning Update Thursday, Feb, 19 2026

US stock futures are slightly higher this morning, with E mini S&P 500 contracts up about 0.1%, as investors weigh stronger economic data against the prospect of interest rates staying elevated for longer. The US 10 year Treasury yield is pushing toward 4.1% after Federal Reserve minutes pointed to only two rate cuts this year and maybe a third, which effectively means borrowing costs for mortgages, credit cards and business loans may stay relatively high. At the same time, US manufacturing output rose 0.7% in January and housing starts jumped 6.2%, which hints at sturdier demand. The key question for investors now is whether this mix of firmer growth and stickier borrowing costs ends up favoring economically sensitive areas such as industrials and housing related stocks, or instead keeps the spotlight on companies in more defensive or cash rich sectors that can handle higher financing costs.

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Top Movers

• Global Payments (GPN) jumped 16.47% after announcing a large buyback, earnings update and governance changes.
• Garmin (GRMN) gained 9.44% following strong Q4 results, higher 2026 guidance, dividend hike and analyst upgrade.
• Venture Global (VG) climbed 8.89%.

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Top Losers

• Palo Alto Networks (PANW) fell 6.82% after several analysts cut price targets following recent earnings and guidance.
• Crown Castle (CCI) slipped 4.82% after Barclays reduced its price target post earnings update.
• GlobalFoundries (GFS) declined 3.46%.

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On The Radar

Earnings from large retailers, utilities and energy infrastructure are set to share fresh read throughs on spending and demand.

• Walmart (WMT) reports Q4 2026 on Thursday, giving you a direct read on consumer spending and pricing power.
• TechnipFMC (FTI) posts Q4 2025 on Thursday, highlighting energy project activity and order trends for oilfield services.
• Targa Resources (TRGP) issues Q4 2025 Thursday pre market, updating the outlook for US midstream volumes and fees.
• Southern (SO) and Consolidated Edison (ED) report Thursday, framing how regulated utilities are handling capital spending and rates.
• PPL (PPL) shares Q4 2025 on Friday, rounding out this week’s utility earnings backdrop for income focused investors.

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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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