CNBC Business News Update Market Close: Stocks Higher, Meta CEO Takes Stand In Social Media Addiction Trial, Oil Prices Pop 2/18/26
Feb 18, 2026
A market recap highlights Wednesday gains and top-performing stocks. Discussion covers why strong earnings have not pushed markets to new highs. Coverage of a high-profile tech CEO testifying in a social media addiction trial and courtroom claims. Reports on oil and gas prices surging after geopolitical concerns. Preview of major corporate results and upcoming economic data.
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Earnings Strength Isn’t Driving A Rally
- Strong earnings have not translated into a market surge despite double-digit earnings and revenue growth.
- Ongoing themes like AI disruption and market uncertainty are clouding investor enthusiasm.
Meta Faces 'Big Tobacco' Style Trial
- Mark Zuckerberg testified in a landmark social media addiction trial likened to Big Tobacco.
- The case alleges platforms intentionally designed algorithms to addict young users, with bereaved parents present in court.
Testimony From A Young Plaintiff
- A now-20-year-old woman says she suffered from intentionally addictive features across Meta, YouTube, TikTok, and Snap.
- TikTok and Snap settled, while the courtroom held parents grieving children harmed after encountering predators or becoming suicidal.