US open: Major indices fall as swelling US trade deficit, mixed data weigh

19th Feb 2026 15:15

(Sharecast News) - Major indices were in the red early on Wednesday after the Bureau of Economic Analysis revealed the US had recorded its third biggest trade deficit on record in 2025.

As of 1515 GMT, the Dow Jones Industrial Average was down 0.42% at 49,452.14, while the S&P 500 shed 0.25% to 6,863.82 and the Nasdaq Composite came out of the gate 0.32% weaker at 22,681.14.

The Dow opened 210.52 points lower on Thursday, more than erasing gains recorded in the previous session despite minutes from the latest Federal Open Market Committee meeting pouring cold water on any lingering hopes of imminent cuts as it showed the central bank had little appetite for rate cuts, raising the likelihood of another hold when policymakers meet next, but also reflecting a divide among Fed officials.

Thursday's primary focus will likely be news that US trade deficit widened sharply in December, rising 32.6% to $70.3bn from $53bn in November and coming in well above expectations for a $55.5bn shortfall, according to the Bureau of Economic Analysis.

Exports fell 1.7% to $287.3bn, driven by a steep drop in non‑monetary gold, though sales of semiconductors, pharmaceutical products and travel services increased. Imports rose 3.6% to $357.6bn, led by higher purchases of computer accessories, non‑monetary gold, copper, telecoms equipment, transport services, crude oil and travel. Pharmaceutical imports declined.

For 2025 as a whole, the US recorded a trade deficit of $901.47bn, slightly narrower than the $903.5bn gap in 2024 but wider than the $774.2bn deficit in 2023. Full‑year exports totalled $3.43trn, up $199.8bn on the year, while imports rose $197.8bn to $4.33trn.

Also on Thursday's macro slate, Americans lined up for unemployment benefits at a decelerated pace in the week ended 14 February, according to the Labor Department. Initial jobless claims decreased by 23,000 from the previous week's upwardly revised level to 206,000, while outstanding claims, on the other hand, increased by 17,000 to 1.86m. The four week moving everage, which aims to strip out week-to-week volatility, dropped by 1,000 to 219,000. The advance seasonally adjusted insured unemployment rate came to 1.2%, unchanged from the previous week's unrevised reading.

Elsewhere, manufacturing conditions in the Philadelphia region improved in February, with the Philly Fed's headline index rising to 16.3 from 10.1, its strongest reading since September and well above the 8.5 expected by economists. The survey showed general business activity and new orders remained moderately firm, though shipments slowed sharply and were close to stalling. Employment levels were broadly steady, but the employment index dipped into negative territory and the average workweek shortened. Respondents said tariffs had generally had a negative impact over the past year, with many expecting those effects to persist.

On another note, US wholesale inventories rose by 0.2% month-on-month to $917.2bn in December, according to preliminary figures from the Census Bureau, matching November's reading and in line with market forecasts. Durable goods inventories increased by 0.3%, the same as in November, while non-durable goods stocks remained unchanged after a 0.1% increase in November. On an annualised basis, wholesale inventories rose 2.8% in the final month of 2025.

Finally, US pending home sales slipped in January, according to the National Association of Realtors, falling 0.8% from December. Compared with the same time a year earlier, contract signings were down 0.4%. Regional performance was mixed, with the Midwest index rising 5% on the month and the West gaining 4.3%, while the South saw a 4.5% decline and the Northeast dropped 5.7%.

In the corporate space, Walmart topped fourth-quarter earnings and revenue estimates on Thursday, but issued guidance for the current trading year that fell short of expectations, while Deere & Co said full-year profits had headed south, even as revenues surged, as tariffs weighed on margins.

Still to come, Live Nation and Dropbox were slated to report quarterly earnings after the close.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Apple Inc. (AAPL) $264.16 0.37%

Dow Jones - Fallers

Intel Corp. (INTC) $44.28 -2.90%

S&P 500 - Risers

eBay Inc. (EBAY) $86.13 7.25%

Apache Corp. (APA) $29.68 6.27%

DENTSPLY Sirona Inc. (XRAY) $13.13 6.19%

CH Robinson Worldwide Inc (CHRW) $186.30 4.86%

Mattel Inc. (MAT) $17.44 3.50%

Diamondback Energy Inc. (FANG) $176.38 3.39%

F5 Inc. (FFIV) $276.45 3.29%

Dollar Tree Inc (DLTR) $132.63 2.74%

Netflix Inc. (NFLX) $78.52 2.71%

LKQ Corporation (LKQ) $33.31 2.62%

S&P 500 - Fallers

Booking Holdings Inc. (BKNG) $3,917.91 -6.19%

Seagate Technology Plc (STX) $403.29 -4.29%

Expedia Group Inc. (EXPE) $196.90 -3.72%

Intel Corp. (INTC) $44.28 -2.90%

Texas Instruments Inc (TXN) $220.22 -2.40%

Western Digital Corp. (WDC) $282.33 -2.27%

Northern Trust Corp. (NTRS) $145.52 -2.05%

Regeneron Pharmaceuticals Inc. (REGN) $775.34 -2.04%

KLA-Tencor Corp. (KLAC) $1,452.14 -1.87%

Gilead Sciences Inc. (GILD) $151.00 -1.62%

Nasdaq 100 - Risers

Liberty Global plc Series A (LBTYA) $13.06 9.75%

Liberty Global plc Series C (LBTYK) $12.58 9.30%

eBay Inc. (EBAY) $86.13 7.25%

DENTSPLY Sirona Inc. (XRAY) $13.13 6.19%

Dollar Tree Inc (DLTR) $132.63 2.74%

Netflix Inc. (NFLX) $78.52 2.71%

Automatic Data Processing Inc. (ADP) $217.76 2.60%

Kraft Heinz Co. (KHC) $24.13 2.46%

Biomarin Pharmaceutical Inc. (BMRN) $61.17 1.98%

Illumina Inc. (ILMN) $119.99 1.95%

Nasdaq 100 - Fallers

Booking Holdings Inc. (BKNG) $3,917.91 -6.19%

Seagate Technology Plc (STX) $403.29 -4.29%

Qvc Group Inc Series A (QVCGA) $3.91 -4.24%

Expedia Group Inc. (EXPE) $196.90 -3.72%

Intel Corp. (INTC) $44.28 -2.90%

Texas Instruments Inc (TXN) $220.22 -2.40%

Western Digital Corp. (WDC) $282.33 -2.27%

Regeneron Pharmaceuticals Inc. (REGN) $775.34 -2.04%

KLA-Tencor Corp. (KLAC) $1,452.14 -1.87%

Gilead Sciences Inc. (GILD) $151.00 -1.62%