MARKET WRAPS
Watch For:
Eurozone industrial production; no major trading updates expected
Opening Call:
European stock futures were higher after Asia stocks traded mixed. U.S. Treasurys were flat, the dollar edged higher. Gold fell and oil rose.
Equities:
European stock futures were higher. A year into the second Trump administration, traders and investors say they are growing more accustomed to what is known in Wall Street parlance as "event risk"--sudden, unexpected news triggering outsize market swings.
Stocks remain near records, but the all-hours cadence has spurred some investors to move money into foreign markets or other havens to escape the noise of the domestic headline cycle.
Stephen Kolano, chief investment officer at Integrated Partners, is increasingly looking toward regions where trade relationships are being formed independently of Washington, such as the European Union and India, increasing allocations to European defense companies and emerging-market equities.
"You almost get desensitized to it," he said. "You know to expect what's not expected."
Forex:
The U.S. dollar edged higher. Brent Donnelly, president of Spectra Markets, pointed to an uptick in pension funds increasing protections against extreme moves in the U.S. dollar to mitigate the risk of the currency dropping on a sudden headline.
Case in point: Last month, Trump's comment that he wasn't concerned about a retreat in the U.S. currency sparked the dollar's biggest decline since his April tariff announcement.
"You can't possibly know when it's going to happen, and you won't know if it's credible when it does," Donnelly said.
Bonds:
U.S. Treasurys were flat, with analysts saying the relentless nature of the news has trained money managers to be wary of the initial response to administration pronouncements, geopolitical developments or surprise technological advances.
"You need to kind of look through that maximalist initial surprise offering, even if it seems like it's shooting from the hip, because it's going to be negotiated," said Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute.
Energy:
Oil edged higher, but could be weighed down by prospects of OPEC+ supply increases.
There are media reports that some OPEC members see room for the group to resume supply increases in April, noted ANZ analysts.
A meeting of the OPEC members is due on March 1 to discuss their supply agreement, the analysts noted.
Metals:
Gold fell on possible position adjustments. However, losses are likely to be limited by Friday's softer-than-expected U.S. CPI data, which have led markets to price in a more aggressive rate-cutting cycle from the Fed, said Sucden Financial.
"Markets are now pricing in slightly more than two rate cuts from the Fed in 2026, with the first expected in the June-July period," the team added.
Higher Fed rate-cut expectations typically enhance the appeal of the non-interest-bearing precious metal.
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Aluminum rose as U.S. President Trump considered reducing the scope of U.S. import tariffs on metals on concerns that the duties are hurting consumers, said ANZ Research analysts in a note.
However, there is some doubt about this possible reduction, with the country's Treasury Secretary Scott Bessent downplaying any potential rollback, they added.
Meanwhile, the metal's prices could be supported by supply concerns after miner South32 disclosed plans to mothball its smelter in Mozambique, according to the analysts.
TODAY'S TOP HEADLINES
In a Chaotic Market, Investors Learn How to Cope With Surprises
Tariffs. AI innovations. Pressure on the Federal Reserve. The Venezuela incursion.
A year into the second Trump administration, traders and investors say they are growing more accustomed to what is known in Wall Street parlance as "event risk"-sudden, unexpected news triggering outsize market swings.
U.S. and Europe, No Longer Kindred Souls, Enter a Marriage of Convenience
MUNICH-Ask a European official who attended this weekend's Munich Security Conference about the state of the trans-Atlantic relationship, and you're likely to hear metaphors about dealing with a troubled, possibly abusive, spouse.
Secretary of State Marco Rubio delivered a less pugnacious message when compared with last year's Munich conference. Back then, Vice President JD Vance launched a blistering attack on the governments of Europe's largest nations and embraced their far-right political opponents.
Companies Are Replacing CEOs in Record Numbers-and They're Getting Younger
Record CEO turnover at U.S. public companies has put the biggest class of incoming chief executives in years at the helm of massive enterprises-and the newcomers are younger and less experienced than before.
About one CEO in nine was replaced last year across 1,500 of the biggest publicly traded companies, a new analysis finds. That is the highest rate since at least 2010, when the U.S. was emerging from the financial crisis.
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Expected Major Events for Monday
00:01/UK: Feb Rightmove House Price Index
07:00/ROM: Jan CPI
07:00/NOR: Jan External trade in goods
07:00/SWE: Jan Labour Force Survey
08:00/SVK: Jan Core & net inflation development
08:00/SVK: Jan CPI
09:00/POL: Dec Merchandise trade
09:00/BUL: Jan CPI
09:30/UK: S&P Global UK Consumer Sentiment Index
10:00/EU: Dec Industrial Production
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(END) Dow Jones Newswires
February 16, 2026 00:00 ET (05:00 GMT)
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