CNBC Business News Update Market Close: Stocks Mixed, Nvidia Tanks 5%, State Farm Cuts Premiums, The NBA Eyes Europe 2/26/26
Feb 26, 2026
Alex Sherman, a sports-business reporter covering the NBA's international plans, breaks down a proposed 10–12 team NBA Europe expansion. Contessa Brewer, a business reporter focused on insurance and finance, reports on State Farm's $5 billion cash return and roughly 10% auto premium cuts. They also touch on why Nvidia tumbled after earnings and other market movers in short, punchy segments.
AI Snips
Chapters
Transcript
Episode notes
Market Split Shows Tech Weakness
- The Dow eked out a 17-point gain while the S&P 500 and Nasdaq fell, showing a split market leadership between value and tech names.
- The Nasdaq was hit hardest, down 273 points, marking its worst day in two weeks and highlighting tech sector weakness.
NVIDIA Rally Often Anticlimactic
- NVIDIA reported blowout earnings yet shares fell about 5%, illustrating that great results don't guarantee immediate stock rallies.
- Josh Brown noted NVIDIA rarely rallies the day after earnings, advising caution for earnings-day buyers.
Check Historical Earnings Reaction Before Buying
- Avoid buying NVIDIA solely on the earnings day expecting an immediate jump, because historical patterns show muted or negative next-day moves.
- Josh Brown recommends checking the last 12 quarters' charts before trading earnings reactions.