Welcome back to our weekly newsletter where we provide an overview of the main US and UK indices, along with analyses of selected assets that are outperforming the market.

Let’s get into this week’s newsletter!

US & UK INDICES OVERVIEW

S&P 500

The S&P 500 is in an interesting spot this year, sitting slightly in the red with a year-to-date dip of 0.43%. However, February has shown some promise, bringing a modest 0.94% gain so far.

The market seems to be in a phase of consolidation, essentially moving sideways, after testing and failing to hold above the 2025 high of $6,945 multiple times since October..

Both January and February briefly pushed above that $6,945 level, only for price to pull back again. Last week, though, brought a glimmer of hope. The index climbed 1.07% overall, with Friday adding an extra 0.69%. That’s encouraging, but the real work isn’t done yet.

For the bulls to take charge, a few things need to happen. First, the index has to break through the $6,945 resistance level. Next, it needs to push past the $7,000 mark, a psychologically significant number. Finally, we need to see a pattern of higher highs and higher lows, which would signal that the upward momentum is sustainable.

Dow Jones

When we look at the Dow Jones, we see a more optimistic picture compared to the S&P. So far this year, the index has climbed 3.25%, with a good chunk of that, 1.5%, happening in February alone.

Right now, the price is sitting nicely above the 2025 high of $48,886, which is a great sign. But there’s a big psychological barrier just ahead: the $50,000 mark.

You can see from February’s chart that sellers are actively pushing back at this level, which is why we see a decline from that level.

If the price can break through and stay above $50,000, that momentum will likely carry it even higher. But until that happens, we’re in a bit of a waiting game, watching to see if it can cross this historic line.

Nasdaq 100

If there’s one area of concern among the major US indices right now, it’s the Nasdaq 100. So far this year, the tech-heavy index has slipped 2.11%, with February adding a further 0.94% decline. It’s been struggling to find its footing.

Since October 2025, the Nasdaq has moved sideways, and November brought a sharp drop, ending the month on a bearish note. The price remains below the 2025 high of $26,182, unable to build the momentum needed for a breakout.

Until the Nasdaq can push past that $26,182 level and start forming a clear uptrend of higher highs and higher lows, it’s wise to stay cautious. This isn’t a time to jump in blindly. Instead, let the index prove it’s ready for a solid move upward.

FTSE 100: 

The FTSE 100 is outperforming the US indices. This isn’t the usual story; historically, the UK market tends to trail behind its American counterparts. But not this time.

Year to date, the FTSE is up an impressive 7.61%, and February alone added 4.53% to that growth. Just last week, it climbed 2.3%, with an additional 0.56% gain on Friday.

In January 2026, the FTSE broke above its 2025 high of 9,954 and pushed past the key psychological barrier of 10,000. Since then, it has been consistently hitting new record highs, reaching 10,747 on Friday.

The trend is clear and strong, with price holding steady at key support levels during small pullbacks. This kind of movement shows a healthy, upward momentum.

Markets don’t go straight up forever, and a correction will eventually happen. When that correction comes, it could create an opportunity. Any pullback that finds support could be the perfect setup for the next upward move.

PERFORMANCE REVIEW

Westinghouse Air Brake Technologies (WAB)

This stock is worth keeping an eye on for its impressive consistency. So far this year, Westinghouse Air Brake Technologies has gained 24.05%, including a standout 15.05% increase in February.

Just last week, it rose another 3.41%, closing Friday up 1.11%.

Looking at this stock’s history, we can see that since hitting a low of $35 in March 2020, the stock has climbed roughly 645%. That level of growth highlights the potential this stock offers for long-term investors.

More recently, the stock has broken through key levels. It surpassed the July 2025 high of $216 and, in January 2026, broke above $222, which is the high of 2025.

The key takeaway here is the clear trend. The stock is showing a classic pattern of higher highs and higher lows, indicating strong buying demand. If this trend continues, there’s significant potential for growth in the coming months or longer.

OUTPERFORMING ASSET FOR THE WATCHLIST

FedEx (FDX)

FedEx is poised to make a big statement in 2026. So far, the stock has climbed an impressive 34.49% year-to-date, with February alone contributing a staggering 20.55% of that gain.

Just last week, the stock added another 3.67%, capped by a 1.39% rise on Friday, reaching a new all-time high.

From May 2021 to January 2026, FedEx was stuck in a range, bouncing between $141 and $319. That’s nearly five years of going nowhere. January finally brought a breakout, but it was cautious enough that some wondered if it might be a fake breakout.

February, however, put those doubts to rest. The stock surged higher with confidence, and one single week saw a remarkable 14.42% gain, an indicator that institutional investors are likely stepping in.

Looking ahead, there are key levels to watch. The $400 mark could act as a psychological barrier, and beyond that, $500 is another milestone to aim for.

Historically, FedEx has been a volatile stock, but something feels different now. The current trend is strong, and the stock keeps finding support on minor dips, a sign of growing momentum.

Looking Ahead

Right now, 60% of U.S. stocks are trading above their 200-day moving average, which is unchanged for the last two weeks. While the market seems flat, long-term trends suggest it will continue to rise. Still, it’s wise to be ready for potential ups and downs.

Keep it simple. Keep it Sublime.

The ST Team

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