Opening Bell - 18 / 02 / 2026

Opening Bell - Morning Commentary

Markets Inch Up Amid AI Cost Concerns

U.S. stocks edged higher Tuesday after a sluggish open, lifted by a rebound in technology shares and support from financials.

Amazon shares swung violently after shedding roughly $450 billion in market value over nine consecutive sessions. Investors are scrutinising the company's plan to spend $200 billion on AI infrastructure in 2026—a nearly 60% increase that significantly exceeded Wall Street expectations.

US Futures are pointing lower, with Nasdaq 100 futures declining amid concerns about AI's disruption across industries and the burden of heavy capital spending.

Gold slipped to $4,919 per ounce yesterday as metals markets stayed cautious ahead of key U.S. data releases: industrial production and the Fed's January meeting minutes today, PCE inflation on Friday. December personal income and spending figures will also draw attention, as they carry the Fed's preferred inflation gauge.

Crude oil fell to $62.25 per barrel, while Brent declined to $68.13, ahead of U.S.-Iran ministerial negotiations.

The New Zealand dollar weakened after the central bank signalled that monetary policy must remain accommodative to sustain the economic recovery.

Most Asian markets are closed due to lunar holidays, while Japanese equities are trading higher today despite lingering AI-driven anxiety in global markets.

Despite a weak start yesterday on a weekly expiry day, the index staged an intraday turnaround, surging over 150 points from its morning lows. The rebound was broad-based, with nearly all sectoral indices finishing in the green.

Nifty managed to register follow-up gains in yesterday's trade. Next resistance for the Nifty is seen near 26000, while levels of 25570 and 25372 could offer support in the near term.

Indian markets are poised to open moderately higher in line with positive global cues.