Stock Market Today, Feb. 24: Broad Rally Lifts Markets As Investors Look Ahead to Nvidia Earnings Tomorrow and Trump’s State of the Union
Today, Feb. 24, 2026, the S&P 500, Dow, and Nasdaq all rallied higher, as the market shakes off AI-related worries from over the weekend.
The S&P 500 (^GSPC +0.74%) rose 0.78% to 6,891.04, the Nasdaq Composite (^IXIC +1.16%) gained 1.04% to 22,863.68, and the Dow Jones Industrial Average (^DJI +0.63%) added 0.76% to 49,174.49 as AI jitters eased.
Market movers
Biotech player Iovance Biotherapeutics jumped 32% on positive sarcoma trial data, while Advanced Micro Devices climbed on reports of a new AI chip deal with Meta Platforms. In staples, J.M. Smucker outperformed after a Bank of America upgrade, while General Mills lagged after a downgrade.
What this means for investors
After the market sold off stocks yesterday, thanks to a viral post on AI’s “doomsday potential” and the potential implications of the Supreme Court’s tariff ruling, stocks rebounded broadly today. In less than two months this year, the market has swung from “software stocks might be dying” to “AI stocks spending heavily on capex need to show an ROI in 2026,” creating interesting market rotations.
One such rotation is the ongoing “HALO” trade, where investors buy stocks with “heavy assets, low obsolescence,” which should be less susceptible to AI disruption. Mentioned earlier, J.M. Smucker is a perfect example of this HALO trade. Home to tangible operations that AI can’t immediately overtake, SJM stock has already risen 12% in 2026.
Looking ahead, President Trump’s SOTU speech is tonight, and Nvidia will report earnings tomorrow after market close. The Motley Fool’s Adria Cimino notes that prediction markets see a 95% chance for the company to beat earnings, but the market’s reaction to the data will be another thing.
Josh Kohn-Lindquist has positions in Advanced Micro Devices and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Iovance Biotherapeutics, J.M. Smucker, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.
