Tech and Energy Offset European Weakness

US benchmarks finished mixed: the S&P 500 (SPX) rose 0.04% and the Nasdaq (^IXIC) climbed 0.36% while the Dow (DJIA) slipped 0.15% as technology and photonics-related gains offset weakness in consumer cyclicals. European equities fell, with the CAC (FRA40) down 2.17% and the DAX (DAX) down 2.56% and the FTSE (UKX) down 1.20%, after softer Italian GDP and UK money-and-credit data weighed on regional sentiment. In Asia, Shanghai (000001.SS) advanced 0.47% while Hong Kong (HSI) dropped 2.14% and Tokyo (NKY) fell 1.35% as local flows diverged.

Sectors: Energy (XLE +2.00%) and Technology (VGT +0.99%) led; Consumer Discretionary (XLY -1.23%) and Consumer Staples (XLP -1.44%) lagged. Top gainers included EMAT (+27.48%), OCUL (+22.82%), AAOI (+21.70%). Top decliners included TPB (-20.79%), AES (-17.77%), AVAV (-17.43%).

Italy's full-year GDP for 2025 printed 0.5% (previous 0.8%), and UK money-and-credit releases showed weaker mortgage borrowing and a negative M4ex flow, which weighed on European risk appetite. The Swiss National Bank signaled greater readiness to intervene to counter franc appreciation, moderating CHF moves, while Bank of Canada deputy governor Sharon Kozicki said persistent supply shocks could require tightening, firming CAD and trimming rate-cut odds.

Nvidia (NVDA) committed $2 billion each to Lumentum (LITE) and Coherent (COHR) to expand photonics capacity and U.S. production, lifting optics suppliers and related tech components. Venture Global (VG) reported Q4 and full-year 2025 results and signed a binding SPA with Trafigura for ~0.5 MTPA of LNG; the combination of strong volumes and conservative 2026 EBITDA guidance produced two-sided trading in VG and energy peers. EchoStar's Q4 release showed a $1.21B net loss and large non-cash impairments, pressuring SATS, while Donaldson (DCI) completed a planned CEO succession that markets viewed as orderly. Multiple completed transactions closed on March 2, including Cornerstone Capital Bank combining with Peoples Bank; 3iQ closing its transaction with Coincheck Group N.V.; IFS acquiring Softeon; Cellebrite acquiring SCG Canada; US BioTek merging with NutriPATH; J.F. Lehman & Company acquiring Forged Solutions Group; BioSyent closing the acquisition of Oral Science; First Mid Bancshares acquiring Two Rivers Financial Group; Hain Celestial completing the sale of its North American snacks business; and LER TechForce completing the acquisition of the Siemens Altair Resource Solution division.