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S&P 500 rises as Nvidia, tech stocks lead gains; Fed minutes in focusUS stocks rose as S&P 500, Nasdaq Composite, and Dow Jones gained, led by Nvidia, Micron Technology, and Amazon. Investors assessed Fed minutes and awaited economic data and corporate earnings.By Gareema Bangad  February 19, 2026, 7:06:44 AM IST (Updated)3 Min ReadUS stocks closed higher on Wednesday, February 18, led by gains in key technology names, as investors assessed the minutes from the Federal Reserve’s latest policy meeting.

The S&P 500 advanced 0.56% to 6,881.31, while the Nasdaq Composite gained 0.78% to 22,753.63. The Dow Jones Industrial Average rose 129.47 points, or 0.26%, to 49,662.66.

Chipmakers helped drive the gains. Nvidia rose 1.6% after Meta Platforms said it would deploy millions of Nvidia chips in its data centre expansion. Micron Technology jumped more than 5% after David Tepper’s Appaloosa Management increased its stake in the company.

Among the “Magnificent Seven” stocks, Amazon climbed nearly 2% after regulatory filings showed Bill Ackman’s Pershing Square raised its stake in the company by 65% in the fourth quarter, making it the fund’s third-largest holding. The move followed the stock snapping a nine-day losing streak.

While large-cap technology stocks supported the broader market, gains were not limited to megacaps. Stephen Lee, founding principal at Logan Capital Management, told CNBC that “lesser-known” technology names, including industrial tech firms such as Trimble, were also performing well.

“I’m not sure today is actually eliminating the broadening out thesis when we kind of peel the onion and look at relative winners,” Lee said, adding that the market is growing “a little bit more discerning.”

Investors also digested minutes from the Fed’s January meeting, which showed policymakers broadly supported holding the benchmark interest rate steady at 3.5% to 3.75%, though officials were divided on the path ahead.

The session followed a muted performance earlier in the week, when major indices posted muted gains while software stocks remained under pressure due to concerns about AI disrupting traditional business models.

Andrew Tyler, head of global market intelligence at JPMorgan, told Bloomberg the market may be entering a “new normal for 2026 — small broad index moves with elevated volatility below the surface,” as sector-level swings intensify even when headline indices show limited movement.

Minutes from the Fed’s January meeting showed policymakers were almost unanimous in keeping rates unchanged, but divided on the path ahead. “Several” officials indicated they could support rate hikes if inflation remains elevated, while others signalled openness to cuts should price pressures ease as expected.

Rate increases are “probably not going to happen,” Conzo told Reuters, but he noted that merely discussing the possibility highlights the divergence within the committee. "So that was a big moment,” he said.

The split comes as Chair Jerome Powell approaches the final months of his term, with former Fed Governor Kevin Warsh, President Donald Trump’s nominee to succeed him in May, expected to face the challenge of building consensus within a divided committee.

“It feels like the Fed had their Wheaties that particular day, because they were just going into many, many different topics,” Conzo added.

In commodities, oil prices rose after US Vice President JD Vance said Iran had failed to address US red lines in recent nuclear talks and that military action remained a possibility.

Markets will now turn their focus to upcoming economic data and corporate earnings for further direction.Continue ReadingFirst Published: Feb 19, 2026 6:07 AM ISTTagsDow JonesNASDAQNvidiaS&P 500Tech StocksUS marketsUS Wall Street