Why did the S&P 500 rise today?

Tech stocks rebound led the move as investors viewed mega caps as cheaper after recent valuation resets. A positive Nasdaq and the Dow’s 172-point gain improved risk appetite. Earnings resilience and steady cash flows supported buying, even as policy uncertainty kept interest rate expectations in check.

How did the FOMC minutes affect rate cut odds?

The minutes signaled caution on inflation, reinforcing a higher-for-longer stance. Markets trimmed the probability of multiple 2026 cuts. That steadied front-end yields and pressured long-duration assets, while favoring profitable growth, quality cyclicals, and financials with stable credit trends.

Which sectors benefit if rate cuts fade?

Profitable tech, cash-generative platforms, and quality cyclicals tend to hold up. Financials can benefit if net interest margins remain steady and credit losses stay low. Long-duration stories without earnings, parts of small caps, and yield-sensitive utilities and real estate may lag in that setup.

What should Canadian investors focus on now?

Watch U.S. tech leadership, Canadian bank earnings, and oil moves for TSX impact. Keep a barbell of profitable growth and defensives, balance bond duration, and use staged buys near support. Review USD exposure for U.S. holdings and align currency decisions with future spending needs.

Global Market Insights

^GSPC Today, February 21: Tech Rebound Lifts S&P 500 as Rate Cuts Fade

ByHuzaifa Zahoor February 21, 2026February 21, 2026

The S&P 500 today extended a three-day climb as mega-cap tech rebounded on a perceived valuation reset. The Dow added about 172 points and the Nasdaq stayed positive, signaling steadier risk appetite. Still, hawkish FOMC minutes curbed hopes for multiple 2026 rate cuts, keeping rate-sensitive groups in focus. For Canadians, a tech-led U.S. bounce can spill into TSX growth names, while higher-for-longer rates support banks and energy. We track ^GSPC levels, sector drivers, and clear next steps.