Market Rises Ahead of Nvidia Earnings and Trump’s State of the Union
The stock market showed significant gains today, February 24, 2026, as investors dismissed earlier concerns over artificial intelligence. Both the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite experienced notable increases.
Market Overview
- S&P 500: Increased by 0.78%, closing at 6,891.04
- Dow Jones: Rose by 0.76%, ending at 49,174.49
- Nasdaq Composite: Climbed 1.04%, finishing at 22,863.68
Key Drivers Behind the Surge
The recovery came after stocks suffered a dip yesterday due to a viral post highlighting the potential risks of AI technology. Additionally, market jitters were compounded by uncertainties surrounding a Supreme Court ruling on tariffs.
- Iovance Biotherapeutics: Gained 32% following encouraging data from a sarcoma trial.
- Advanced Micro Devices: Increased in value after news of securing a deal for a new AI chip with Meta Platforms.
- J.M. Smucker: Performed well after receiving an upgrade from Bank of America.
- General Mills: Fell behind due to a downgrade.
Investor Insights
This year’s market has shown remarkable fluctuations. In just under two months, concern transformed from fears about software stocks to a focus on the return on investments in AI. Currently, investors are shifting towards the “HALO” trade, favoring stocks with heavy physical assets and lower risk of obsolescence from AI.
Example of the HALO Trade
J.M. Smucker exemplifies this trend, with its tangible operations making it a stable investment amidst the digital disruptions. So far in 2026, the stock has appreciated by 12%.
Upcoming Events
Looking ahead, significant events are on the horizon. President Trump is set to deliver his State of the Union address tonight, while Nvidia is scheduled to announce its earnings tomorrow after market close. Prediction markets currently estimate a 95% probability that Nvidia will surpass earnings expectations.
Investors remain cautious about how the market will react to these earnings reports. Notable analysts, including Josh Kohn-Lindquist, have positions in both Advanced Micro Devices and Nvidia, adding layers of interest to these forthcoming announcements.
