Business
Blockbuster Moves Shake the League as Contenders Load Up Before Thursday Buzzer
The 2026 NBA trade deadline delivered fireworks on February 5, with a flurry of blockbuster deals reshaping contenders and rebuilding squads alike. The day featured high-profile names like James Harden, Anthony Davis, Jonathan Kuminga, Kristaps Porziņģis and Jaren Jackson Jr. changing teams, as franchises made aggressive pushes to bolster rosters ahead of the postseason.
The deadline officially closed at 3 p.m. ET, but the action accelerated in the final 48 hours. Cleveland landed Harden, Dallas parted ways with Davis in a massive overhaul, Golden State ended its Kuminga saga by acquiring Porziņģis, and Utah shocked the league by trading for Jackson Jr. from Memphis. The moves reflected a league in flux — contenders doubling down, middling teams pivoting, and sellers stockpiling assets.
Here are the most impactful trades from the 2026 deadline, their immediate implications, and how they could alter the playoff landscape.
Cleveland Cavaliers Acquire James Harden from LA Clippers
Cleveland receives: James Harden LA Clippers receive: Darius Garland, future second-round pick
The Cavaliers pulled off the deadline’s biggest coup by landing Harden from the Clippers in exchange for Garland and a second-rounder. Harden, 36, brings elite playmaking and scoring punch to a Cleveland backcourt that struggled with consistency after Garland’s inconsistent play. The move pairs Harden with Donovan Mitchell and Evan Mobley in a lineup that now projects as one of the East’s top offensive threats.
Analysts gave Cleveland high marks for the upgrade. Harden averaged 19.8 points and 8.5 assists this season; Garland’s defense and availability had become liabilities. The Cavs are now firmly in the East title conversation, especially if Harden stays healthy.
Dallas Mavericks Trade Anthony Davis to Washington Wizards
Dallas receives: Khris Middleton, AJ Johnson, Malaki Branham, Marvin Bagley III, Oklahoma City’s 2026 first-round pick, Phoenix’s 2026 second-round pick, Chicago’s 2027 second-round pick, Houston’s 2029 second-round pick, Golden State’s 2030 first-round pick (top-20 protected) Washington receives: Anthony Davis, Jaden Hardy, D’Angelo Russell, Dante Exum
The Mavericks shocked the league by moving Davis — acquired in the Luka Dončić trade just one year earlier — to the Wizards in a package heavy on young players, veterans and future picks. Davis’ injury history and fit alongside Kyrie Irving prompted the reset. Dallas gains Middleton’s veteran scoring and shooting, plus lottery upside in Johnson and Branham, while adding significant draft capital.
The Wizards, meanwhile, land a superstar big man to pair with their young core, betting on Davis’ health for a quick retool. Grades ranged from A- to B- for Dallas (future assets) and A- for Washington (star power at low cost).
Golden State Warriors Trade Jonathan Kuminga & Buddy Hield to Atlanta Hawks for Kristaps Porziņģis
Golden State receives: Kristaps Porziņģis Atlanta receives: Jonathan Kuminga, Buddy Hield
The Warriors ended months of Kuminga speculation by shipping the 23-year-old forward and Hield to Atlanta for Porziņģis. The move gives Golden State a 7-foot-3 stretch big who can space the floor for Stephen Curry and Jimmy Butler while providing rim protection. Porziņģis, 30, has one year and $36 million left on his deal.
Atlanta gains a young, athletic wing in Kuminga who fits their timeline and adds scoring punch. The trade drew praise for both sides: Golden State upgrades its frontcourt for a title push, while the Hawks invest in youth.
Other Notable Deadline Moves
- Utah Jazz Acquire Jaren Jackson Jr. from Memphis Grizzlies — An eight-player, three-pick blockbuster sent the former Defensive Player of the Year to Utah. Memphis gets youth and picks; Utah accelerates its timeline.
- Oklahoma City Thunder Acquire Jared McCain from Philadelphia 76ers — OKC adds a promising young guard for a 2026 first-round pick and seconds. The rich keep getting richer.
- Charlotte Hornets Acquire Coby White & Mike Conley from Chicago Bulls — Charlotte lands scoring (White) and leadership (Conley); Chicago gets youth and picks in a retool.
- Cleveland Cavaliers Acquire Dennis Schröder & Keon Ellis from Sacramento Kings — Cleveland bolsters depth; Kings get De’Andre Hunter.
The deadline saw fewer three-team deals than expected but plenty of star movement. Giannis Antetokounmpo rumors never materialized, and Ja Morant stayed put, but the action still reshaped the playoff picture.
Contenders like Cleveland, Golden State and Utah strengthened; middling teams like Dallas and Chicago pivoted; and sellers like Memphis and Philadelphia stockpiled assets. As the regular season enters its final stretch, the Eastern and Western Conference races just got more intriguing.
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The Big Money Show panel discusses the alarming new analysis showing Social Security and Medicare racing toward insolvency and warns that retirees face steep benefit cuts unless Washington acts fast.
BlackRock CEO Larry Fink discussed possible Social Security reforms that would allow more Americans to benefit from the growth in the stock market while also ensuring the program is strengthened so it can survive to serve future generations.
Fink’s recently released annual chairman’s letter touched on how Social Security is “one of the most effective poverty-prevention programs in history” and that while it provides stability, it “doesn’t allow most Americans to build wealth in a way that grows their country.”
“Today, the system operates largely on a pay-as-you-go basis. Payroll taxes are used to pay current retirees, and the Social Security trust fund is invested primarily in U.S. Treasury bonds. In effect, workers lend money to the government and receive defined benefits in return.”
“The structure, designed as a social insurance program, emphasizes stability and predictability. What it doesn’t do is let people grow their benefits along with the broader economy. The question is whether the Social Security system could allow both,” Fink said.
NEW PROPOSAL WOULD CAP SOCIAL SECURITY BENEFITS AT $100K FOR WEALTHY COUPLES
BlackRock CEO Larry Fink said that Americans need to discuss ways to reform Social Security ahead of its insolvency. (Hollie Adams/Bloomberg via Getty Images)
He said that this could be accomplished by asking whether a portion of the system could be invested “carefully, broadly, and over decades” like other long-term pension systems.
“This would not mean privatizing Social Security or putting it all into the stock market,” Fink wrote. “It would mean introducing a measure of diversification, similar in principle to the federal Thrift Savings Plan, which manages retirement savings for millions of federal employees.”
“The goal would be to strengthen the system over time while preserving its core guarantees,” he added.
SOCIAL SECURITY’S MAIN TRUST FUND FACES DEPLETION IN 2032, TRIGGERING BENEFIT CUTS
Social Security’s main trust fund is on a path to insolvency in less than a decade, when benefits would be automatically cut to match payroll tax revenue. (Getty Images/iStock)
Fink noted a bipartisan proposal from Sens. Bill Cassidy, R-La., and Tim Kaine, D-Va., that would create a new investment fund that operates parallel to the existing trust fund rather than replacing it while investing in a diversified mix of stocks and bonds to generate higher returns.
The proposal would require an initial investment of about $1.5 trillion and would be given 75 years to grow, and during that period the Treasury would continue covering Social Security benefits.
Once the fund matures, it would repay the Treasury and then supplement payroll taxes going forward to help close the gap between what the Social Security system takes in and what it pays out – while no one on Social Security or nearing retirement would see a change to their benefits.
Fink also noted that about six million Americans who are employed by state and local governments don’t currently contribute to Social Security and instead rely on public pension systems that invest in diversified portfolios.
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| Ticker | Security | Last | Change | Change % |
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| BLK | BLACKROCK INC. | 933.66 | -34.51 | -3.56% |
Other examples of alternative pension systems can be found overseas, with Australia’s superannuation system representing an approach that invests retirement contributions in the financial markets. Fink said that a “similar, carefully structured approach could be considered to strengthen Social Security.”
“I understand why any talk of changing Social Security makes people uneasy. Social Security is a core promise, and people rightly believe it should be honored. But under the current system, doing nothing could very well break that promise,” he said.
“Current projections show the trust fund won’t be able to pay full benefits by 2033. Many young Americans doubt they’ll ever fully see theirs,” he explained. “Addressing that gap will likely require multiple solutions. But thoughtful, long-term investing could be one of them.”
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An analysis by the nonpartisan Committee for a Responsible Federal Budget (CRFB) noted that when Social Security’s main trust fund reaches insolvency – which is projected to occur in 2032 – federal law requires benefits be cut to match revenue from payroll taxes, which would amount to a roughly 24% cut for beneficiaries.
Fink noted that his chairman’s letter two years ago was focused on rethinking retirement and generated criticism for suggesting that Social Security was in need of reforms. He acknowledged that the latest letter may do the same, but said it’s a conversation that needs to be had.
“In my 50 years in finance, if there’s one thing I’ve learned, it’s that the problems we don’t talk about are the ones that should worry us most. And that’s exactly why we need the conversation now – because the cost of waiting is only getting higher,” he said.
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