Stock Market Summary – February 24, 2026

Goldman Sachs predicts the biggest risk to the U.S. economy is a potential stock market correction. A 10% pullback could result in a 0.5 percentage point reduction in GDP forecasts. Key risks include the potential impact on consumer confidence and spending, especially among higher-income households who hold significant amounts of stocks.

Companies making headlines in midday trading include Dillard’s, Planet Fitness, Novo Nordisk and Advanced Micro Devices. Dillard’s and Planet Fitness shares fell by 7% and 8% respectively due to weaker-than-expected revenues and guidance. Shares of Novo Nordisk fell 2% after announcing it will slash prices of certain drugs. AMD rose 10% after announcing a chip deal with Meta Platforms.

IBM, Adobe, and Salesforce stocks are recovering following a steep decline, due to perceived threats from Anthropic’s AI coding tool. IBM and Adobe shares rose by more than 2%, while Salesforce increased 4%.

Artificial Intelligence start-ups Cursor and Anthropic announced major updates to their AI coding agents, adding urgency to competition in the AI coding market. Microsoft, in partnership with SpaceX, announced an initiative to expand global connectivity and are planning to connect 450 community hubs in Kenya.

Bitcoin mining has become unprofitable due to the recent fall in the cryptocurrency’s value. Bitcoin traded at $64,143, a roughly 26% drop year-to-date. The falling value is affecting bitcoin miners’ profitability, with the network’s hash price down about 30% over the past three months.

In stock market news, Jim Cramer recommends owning TJX, the retail chain behind T.J. Maxx, Marshalls and HomeGoods. The company is expected to report earnings before Wednesday’s opening bell. He also noted the solid earnings by Home Depot and Costco for the first quarter of 2026.