Stocks bounce back powered by tech rebound

Tech rose amid AMD and Meta's chip deal, and software stocks recovered as investors shook off yesterday's dystopian AI report.

Your Evening Briefing February 24, 2026 Stocks bounce back powered by tech rebound The S&P 500, Nasdaq 100, and Russell 2000 each rose as stocks bounced back amid abating AI anxiety. Today's rally lifted shares in all sectors except for energy and health care. Consumer discretionary was the best-performing sector, lifted by gains in Amazon and Tesla, followed by industrials, then tech. Alphabet was the only Mag 7 stock to close in the red. Bitcoin stabilized after falling below $63,000 early this morning, a 50% drop from its October 6 all-time high. Stocks that moved higher: Advanced Micro Devices soared as it struck an AI infrastructure deal with Meta valued at over $100 billion. Beleaguered business software stocks IBM (which suffered its biggest one-day drop since 2000 yesterday), Salesforce, ServiceNow, and Oracle bounced up as Anthropic announced a series of new plug-ins tying Claude Cowork into third-party platforms like Salesforce's Slack, Google's apps, LegalZoom, and DocuSign, among others. Taiwan Semiconductor hit a new all-time high as Apple plans to purchase "well over 100 million" chips from TSMC's Arizona facility this year. Nuclear power plant operator Constellation Energy rose after reporting better-than-expected earnings and revenue this morning. The company declined to give full-year 2026 guidance until a call slated for the end of March. Keysight Technologies skyrocketed after raising its outlook on strong AI demand. Despite announcing disappointing Q4 results after the bell yesterday, Cipher Mining soared. Klaviyo jumped on news of a partnership with Google aimed at autonomous customer experiences. Stocks that moved lower: Sandisk fell as Citron Research, short seller Andrew Left's firm, announced it was short the stock. The shares fell further after a product release failed to live up to the hype. Budget carriers Frontier Airlines and JetBlue dipped as Spirit Airlines reached a deal with lenders to emerge from its second bankruptcy. Hims & Hers ticked lower after issuing soft full-year guidance and disclosing that it is under investigation by the SEC after the bell yesterday. Nvidia is everything good and bad about the US stock market in 2026 AI-driven shortage beneficiary? Check. Buyer of memory chips? Check. A market leader facing mounting competition in the AI boom? Check. Read more. Hinge Health's CEO is sizing up a giant market opportunity for digital healthcare We catch up with Daniel Perez after a volatile few months in the public markets. Read more. Novo Nordisk to slash GLP-1 list prices starting in 2027 Novo said the move will expand access for patients, "specifically those whose out-of-pocket costs are linked to list price, such as individuals with high-deductible health plans or co-insurance benefit designs." Chinese drone-maker DJI sues to overturn FCC foreign drone ban The FCC's move to ban all foreign drones and components is being challenged in federal court.  Alphabet's Waymo is now available in 10 cities Tesla is in Austin and the Bay Area. Archer Aviation sues rival Vertical, alleging air taxi design patent infringement Archer Aviation alleged that Vertical's Valo aircraft "mimics" its own Midnight aircraft. Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.  Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!  Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025