Tech-Led Gains Lift Global Markets
February 25, 2026 at 21:00 UTC
Key Points
- Technology sector strength (VGT +2.01%) supported a broad US advance, lifting major benchmarks and driving Nasdaq outperformance.
- Diageo's guidance cut and large interim dividend reduction prompted a sell-off in London-listed consumer names and pressured European sentiment.
- Shoe Carnival's interim CEO appointment and $50m buyback, plus M&A and deal announcements, drove intraday volatility and net downward pressure on affected stocks.
- Absent German GfK data kept macro-driven volatility muted and left traders focused on corporate headlines and sector flows.
Global Market Summary
US benchmarks closed higher: the S&P 500 (SPX) rose 0.86%, the Nasdaq (^IXIC) gained 1.29% and the Dow (DJIA) added 0.63% as technology strength, reflected in VGT (+2.01%), supported a broad advance. European markets also advanced with the FTSE (UKX) up 1.18%, the CAC (FRA40) +0.47% and the DAX (DAX) +0.76%, although a Diageo guidance cut weighed on some London-listed names. In Asia the Nikkei (NKY) led gains, rising 2.20%, while Hong Kong (HSI) added 0.66% and the Shanghai Composite (000001.SS) gained 0.72%.
Top Movers
Sectors: technology led with VGT (+2.01%) and financials (XLF +1.57%), while consumer staples (XLP -0.84%) and industrials (XLI -0.71%) lagged. Notable stock movers included YOU (+38.14%), CRCL (+33.90%) and CAVA (+26.21%) on the upside, while IBRX (-17.66%), LUNR (-15.26%) and DEO (-15.10%) were the largest decliners.
Macro highlights
Germany's GfK Consumer Confidence for March was repeatedly scheduled on the calendar but no actual print was reported in the feed, leaving the release without a clear market impact. The absence of fresh German consumer data kept macro-driven volatility muted and left traders focused on corporate headlines and sector flows.
News that moved markets
Shoe Carnival (SCVL) named Cliff Sifford as interim CEO and reported preliminary fiscal 2025 results with a modest beat and a new $50 million buyback; the simultaneous leadership change and capital-return announcement drove intraday volatility and net downward pressure on the stock. Diageo cut 2026 sales guidance and more than halved the interim dividend, prompting a notable share sell-off in London and pressuring related consumer names. Nexus IT completed the acquisition of Damon Technology Solutions, expanding its national platform in regulated industries. Among announced deals, One River agreed to acquire LGT Capital Partners' quantitative investment solutions team and Robo.ai announced plans to acquire a controlling stake in Chinasky Car Trading FZE.
Upcoming session watchlist
- KR Interest Rate Decision — forecast 2.5% vs 2.5% prior, Feb 26, 01:00 | Signals monetary policy stance and borrowing conditions affecting growth and inflation.
- US Initial Jobless Claims (Feb/21) — consensus 211K vs 206K prior, Feb 26, 13:30 | Gauges labor market tightness and near-term unemployment trends.
- JP Industrial Production MoM Prel (Jan) — consensus 5.3% vs -0.1% prior, Feb 26, 23:50 | Measures monthly factory output momentum and near-term manufacturing activity.
- JP Retail Sales YoY (Jan) — consensus -0.4% vs -0.9% prior, Feb 26, 23:50 | Tracks consumer demand and spending strength across the economy.
- EA Economic Sentiment (Feb) — forecast 99.1 vs 99.4 prior, Feb 26, 10:00 | Indicates business and consumer confidence affecting growth expectations.
Key Takeaways
- Technology-led strength pushed US benchmarks higher, with the Nasdaq outperforming and the S&P and Dow also posting gains.
- Asia and Europe advanced; the Nikkei led Asian gains while Diageo's guidance cut weighed on London-listed consumer stocks.
- Sector breadth favored technology and financials while consumer staples and industrials lagged, as reflected in ETF performance.
- Large single-stock swings occurred with big rallies in YOU, CRCL and CAVA and steep declines in IBRX, LUNR and DEO that drove intra-session moves.
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