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Walmart features in a holiday-shortened week with 57 S&P 500 reports. (0:17) Economists expect Q4 GDP growth near 2.8%. (1:10) Supreme Court could rule soon on Trump tariffs. (1:37)

The following is an abridged transcript:

It’s a holiday-shortened week for Wall Street, with markets closed Monday for Presidents’ Day — officially Washington’s Birthday, and observed as such by the NYSE.

But in the four trading days, there’s still plenty on the calendar, with 57 S&P 500 (SP500) companies reporting results.

Walmart (WMT) is the marquee name. The retail giant is expected to report fiscal Q4 EPS of $0.73 on revenue of $188.54B when it reports Thursday. Same-store sales are forecast to rise about 4.2%. Walmart also joined the $1T market-cap club last week.

Seeking Alpha analyst Grassroots Trading says Walmart is aggressively integrating AI — including “Sparky” — to drive efficiency and profitability, narrowing the gap with Amazon (AMZN). But they rate the stock a Strong Sell, arguing the valuation looks extreme, with limited margin of safety if multiples revert.

Also on the earnings calendar:

Palo Alto Networks (PANW) and Medtronic (MDT) report Tuesday, followed by DoorDash (DASH) and Occidental (OXY) on Wednesday.

On the economic front, the first look at Q4 GDP is due Friday, with economists expecting 2.8% annualized growth.

Wells Fargo says the underlying fundamentals still look solid — but estimates growth could run closer to 1.6% if you factor in the government shutdown’s drag on headline activity.

Also due Friday are the December income and spending figures, which include the core PCE price index — the Fed’s preferred inflation gauge. Core PCE is forecast to tick up to 3% year over year.

In Washington, a Supreme Court ruling on President Trump’s tariffs could come as soon as Friday. The court has flagged three opinion days: Feb. 20, Feb. 24, and Feb. 25.

Prediction markets indicate SCOUTS will rule against the tariffs. Kalshi implies about a 27% chance the court rules in favor, while Polymarket is around 26% as of today.

In the news this weekend, Nvidia (NVDA) says CEO Jensen Huang won’t attend the India AI Impact Summit in New Delhi “due to unforeseen circumstances.” But Nvidia said it remains “deeply committed” to the summit and to India’s rapidly advancing AI ecosystem.

The event runs Feb. 16 through Feb. 20, and is expected to draw heads of state — including French President Emmanuel Macron — along with top tech leaders such as Sundar Pichai of Alphabet (GOOG) (GOOGL) and Sam Altman of OpenAI (OPENAI).

For income investors, Chevron (CVX) goes ex-dividend Tuesday, paying out March 10.

ConocoPhillips (COP) and Hasbro (HAS) go ex-dividend Wednesday — ConocoPhillips pays out March 2, and Hasbro pays March 4.

And Microsoft (MSFT) goes ex-dividend Thursday, with a March 12 payout date.

And in the Wall Street Research Corner, Goldman Sachs has launched a software pair-trade basket — going long on names it sees as more insulated from AI disruption, and short on those it sees as more vulnerable.

On the long side are names such as Cloudflare (NET), CrowdStrike (CRWD), Palo Alto Networks (PANW), Oracle (ORCL), and Microsoft (MSFT).

On the short side, Goldman flagged Monday.com (MNDY), Salesforce (CRM), DocuSign (DOCU), Accenture (ACN) and Duolingo (DUOL).

Presidents’ Day, observed on Monday, February 16, 2026, remains a firmly established federal holiday in the United States. Officially designated as Washington’s Birthday under federal law, the third Monday in February has been a paid day off for federal employees since 1879. Despite its popular name honoring all U.S. presidents, the holiday’s legal title honors George Washington, the nation’s first president. As of February 15, 2026, no changes to its status have occurred, and it continues to provide a long weekend for millions amid winter sales and school recesses.

The Office of Personnel Management (OPM) lists Washington’s Birthday as one of 11 federal holidays in 2026, with no alterations from prior years. Federal offices, including post offices and most government services, close on February 16, while banks, stock markets and many private businesses observe it with time off or limited operations. This year’s observance arrives just two days after Valentine’s Day, creating a short workweek for those with Monday off.

Federal Holiday Status Confirmed Yes, Presidents’ Day is a federal holiday. The U.S. Code (5 U.S.C. § 6103) explicitly names “Washington’s Birthday” as a federal holiday on the third Monday of February. The Uniform Monday Holiday Act of 1971 shifted it from February 22 (Washington’s actual birth date) to create consistent long weekends, boosting travel and commerce. While many states and the public call it Presidents’ Day—often encompassing Abraham Lincoln (born February 12) and other leaders—the federal designation remains Washington’s Birthday.

OPM’s 2026 calendar confirms the date: Monday, February 16. Federal employees receive paid leave, and nonessential government operations pause. This aligns with the full 2026 federal holiday schedule, including New Year’s Day (Jan. 1), Martin Luther King Jr. Day (Jan. 19), Memorial Day (May 25), Juneteenth (June 19), Independence Day (July 4, observed July 3 if needed), Labor Day (Sept. 7), Columbus Day (Oct. 12), Veterans Day (Nov. 11), Thanksgiving (Nov. 26) and Christmas (Dec. 25).

Historical Evolution The holiday originated in 1879 when Congress made Washington’s birthday a federal holiday, the first to honor an individual’s birth date. Early celebrations date back to Washington’s lifetime, with formal recognition growing after his 1799 death. The 1971 law consolidated it with Lincoln’s birthday observances in many places, leading to the “Presidents’ Day” moniker in commercial and state contexts. Wikipedia and Mount Vernon sources note that while the federal name is Washington’s Birthday, most states adopt Presidents’ Day or similar variations (e.g., Washington and Lincoln Day in some).

No recent legislative changes have altered its status. Proposals to rename it officially Presidents’ Day or add other presidents have surfaced periodically but never passed. As of mid-February 2026, it retains its original federal purpose while serving as a broader tribute to executive leadership.

What Closes on Presidents’ Day 2026 Federal closures are widespread:

• U.S. Postal Service: No regular mail delivery; post offices closed (though some Priority Mail may move).
• Banks and financial markets: Most banks closed; NYSE and Nasdaq shut.
• Federal courts and offices: Closed, including nonessential agencies.
• Schools: Many districts schedule February break around the holiday, creating a midwinter recess.
• Private sector: Varies—many offices offer the day off, but retail and service industries often stay open for sales.

Sales and Shopping Impact Presidents’ Day weekend drives major retail events, often rivaling Black Friday for discounts. In 2026, expect promotions on appliances, mattresses, cars and furniture. Major chains like Macy’s, Best Buy and car dealerships launch “Presidents’ Day Sales” starting early February. Online deals on Amazon, Walmart and Target spike, with beauty, electronics and home goods featured prominently. USA Today and other outlets highlight it as a prime time for big-ticket purchases before spring.

Cultural and Educational Significance The holiday offers opportunities for reflection on presidential legacies. Schools often teach about Washington, Lincoln and other leaders. Museums like Mount Vernon host events, while civic groups host parades or reenactments. In a politically polarized era, it remains a unifying nod to democratic institutions, though public discourse sometimes debates its name and scope.

What It Means for 2026 With February 16 falling mid-month, the three-day weekend (Saturday Feb. 14 through Monday) follows Valentine’s Day, blending romance with rest. No major disruptions from weather or events are reported as of February 15. For travelers, airports and trains run normally, though expect crowds.

In summary, Presidents’ Day 2026 is unequivocally a federal holiday, closing government services and providing paid leave while fueling sales and family time. Its dual identity—official Washington’s Birthday, popular Presidents’ Day—reflects America’s evolving holiday traditions. Whether using the day for rest, shopping or historical reflection, it underscores the enduring role of the presidency in national life.

Apple’s iPhone 18 Pro Max remains one of the most anticipated smartphones of 2026, positioned as a flagship upgrade in a year of significant lineup changes. As of February 15, 2026, leaks from analysts, supply chain reports and tech outlets indicate the device will launch in September 2026, aligning with Apple’s traditional fall event window. This timing accompanies the rumored first foldable iPhone, while base models like the standard iPhone 18 face a potential delay to spring 2027.

The split-launch strategy marks a departure from Apple’s usual all-at-once approach, driven by production priorities, the introduction of a foldable device and efforts to differentiate premium tiers. Bloomberg, MacRumors, Tom’s Guide and PhoneArena reports from early to mid-February 2026 confirm the Pro models’ fall debut, with no official Apple announcement yet—typical for devices still months away.

Release Timeline and Launch Strategy Apple historically unveils Pro iPhones in early to mid-September, followed by pre-orders and availability later that month. For 2026, the iPhone 18 Pro and iPhone 18 Pro Max are expected in September, sharing the spotlight with the foldable iPhone (potentially named iPhone Fold or similar). This quartet—Pro, Pro Max, foldable and possibly an iPhone 18 Air—represents the premium segment.

The standard iPhone 18 and budget-friendly iPhone 18e (or similar entry-level variant) are rumored for a spring 2027 rollout, possibly March or later. Analysts like Jeff Pu of GF Securities and reports from Bloomberg attribute this to supply chain focus on high-end models and foldable tech. The shift avoids overcrowding the fall event and allows staggered marketing. No exact date exists yet, but mid-September 2026 for the announcement remains the consensus, with devices hitting stores shortly after.

This approach positions the iPhone 18 Pro Max as a “stopgap” before the rumored 20th-anniversary redesign in 2027 (potentially iPhone 20), per Tom’s Guide and MacRumors. It gives buyers premium upgrades sooner while deferring base models.

Pricing Expectations Good news for consumers: the iPhone 18 Pro Max is expected to maintain current pricing. Analyst Jeff Pu’s February 2026 note (via GSMArena and MacRumors) suggests starting prices matching the iPhone 17 Pro Max—around $1,199 for the base 256GB model in the U.S., with higher tiers for more storage. Stability counters potential hikes from memory shortages tied to AI demand. International pricing, including in markets like South Korea, should follow similar patterns adjusted for currency and taxes.

Design and Display Rumors Design changes appear evolutionary rather than revolutionary. Leaks indicate minimal external shifts from the iPhone 17 series, with refined aesthetics like polished edges, possibly redesigned back glass and a smaller Dynamic Island (or under-display elements in testing). Forbes and other sources describe a “more polished look” without major overhauls, preserving the successful titanium frame and Ceramic Shield front.

Display expectations include a 6.9-inch Super Retina XDR OLED panel on the Pro Max, with ProMotion (120Hz refresh), always-on capabilities and peak brightness potentially exceeding 2,000 nits. Some rumors hint at bolder color options, including new shades like Coffee or enhanced finishes.

Performance and Chip Upgrades The standout internal upgrade is the A20 Pro chip, built on TSMC’s advanced 2nm process—the first iPhone to use it. This promises better efficiency, performance gains and improved thermal management over the 3nm A19 series. Vapor chamber cooling, introduced in prior models, may expand for sustained performance during gaming or intensive tasks.

RAM could reach 12GB on Pro models (per some Jeff Pu notes), aiding multitasking and Apple Intelligence features. The next-gen modem (possibly Qualcomm or in-house) targets faster 5G/6G readiness and better connectivity.

Camera System Enhancements Camera rumors excite photographers. The iPhone 18 Pro Max may feature a variable aperture main lens for better depth control and low-light performance—potentially exclusive to the Max variant. Upgraded sensors, improved computational photography and AI-driven edits align with Apple’s focus on pro-level imaging.

Triple-lens setup (wide, ultra-wide, telephoto) persists, with periscope zoom refinements for superior optical reach. Variable aperture adds flexibility for portraits and landscapes.

Battery and Other Features Battery gains are modest but meaningful: leaks suggest around 5,200mAh on the Pro Max (up from ~5,088mAh on the 17 Pro Max), aided by 2nm efficiency for longer life. Fast charging and MagSafe improvements continue.

Other perks include enhanced Apple Intelligence integration, better water/dust resistance and ecosystem ties with iOS 20 (or iOS 27, per naming debates). The device will run the latest iOS at launch, emphasizing AI, privacy and productivity.

Market Context and Competition The iPhone 18 Pro Max enters amid foldable growth and rivals like Samsung’s Galaxy S26 (expected March 2026). Apple’s staggered strategy lets Pro models compete premium while base models arrive later at potentially lower prices. Demand remains strong for Pro Max’s large screen, camera prowess and longevity.

What to Watch For As spring 2026 progresses, expect more leaks on prototypes, colors and benchmarks. Apple’s Worldwide Developers Conference in June could preview software features. Until the September event, details evolve rapidly—stay tuned for official confirmation.

The iPhone 18 Pro Max shapes up as a refined powerhouse, blending incremental design with major internal leaps. For those eyeing upgrades, it offers compelling reasons to wait over current models, especially with pricing stability and foldable excitement.

2026 Daytona 500 Start Time: Full Schedule, TV Coverage & Race Day Guide (Feb. 15 Latest)

The 68th Daytona 500, NASCAR’s crown jewel dubbed “The Great American Race,” fires off today, Sunday, February 15, 2026, at 2:30 p.m. ET from Daytona International Speedway. With clear skies forecast and a stacked field of 40 cars, pre-race festivities peak as Rick Hendrick receives the NASCAR Hall of Fame ring.

Official Start Time Confirmed

Green flag drops at 2:30 p.m. ET sharp, broadcast live on FOX, MRN, and SiriusXM NASCAR Radio. The 500-mile thriller spans 200 laps on the 2.5-mile tri-oval, with stages at Lap 60, 120, and the finish.

Daytona trimmed its banking in 2024, tightening racing lines and boosting passing—last year’s Ricky Stenhouse Jr. win showcased the changes. No delays expected; twilight finish possible around 6 p.m. ET.​

Weekend Speedweek Schedule

NASCAR Speedweek kicked off Thursday with Truck Series practice; Friday’s ARCA Menards race won by Connor Mosack. Busch Series (CW Network) starts 5 p.m. ET Saturday ahead of Cup qualifying.

Cup practice/duels wrap Friday; single-car qualifying Friday night sets the front row. Heat races Saturday evening lock in the 40-car field.​

Pre-Race Entertainment Lineup

Country superstar Miranda Lambert headlines the free pre-race concert at 11 a.m. ET on the infield stage, her third Daytona gig. Grammy-winning DJ Pee .Wee delivers the tailgate party beat.​

NFL legend Peyton Manning is Grand Marshal; actor David Corenswet (upcoming Superman) drives the pace car. National anthem by Jessie Murph; invocation by Rev. Doug Hood.

TV and Streaming Details

FOX airs the main event with Mike Joy, Clint Bowyer, and Michael Waltrip on commentary—first Daytona under the new CW media deal for non-points races. Streaming via FOX Sports app, YouTube TV; international on ESPN networks.

MRN radio blanket coverage; PRN pit reporters. Spanish on FOX Deportes. Post-race “NASCAR Victory Lane” at 7 p.m. ET.​

Ticket and Access Info

Gates open 7 a.m.; infield camping sold out months ago. Single-day grandstand tickets from $125; premium hospitality $500+. Shuttle from Orlando airport; rideshare zones expanded.​

Scan stadium passes via app; clear bags only. Fireworks, driver Q&As, and fan zones run 8 a.m.-race start.​

Defending Champ and Favorites

Ricky Stenhouse Jr. seeks repeat after his 2025 overtime thriller. Hendrick Motorsports’ William Byron (2024 winner) and Kyle Larson top odds at +600; Joey Logano (+800) eyes three-peat bid.​

23XI Racing’s Bubba Wallace, fresh off a 2025 top-5, starts mid-pack. Stewart-Haas closure reshuffles the field—Ryan Preece joins RFK.​

Entry List Highlights

40 cars confirmed: Full-time Cup stars plus open qualifiers. Notable: Ty Gibbs pole favorite; Ross Chastain Big One bait; rookie Brenden Queen in the 44.​

Hendrick trio—Byron, Larson, Chase Elliott—plus Bowman’s No. 48. Penske’s Power/Logano/Blimpie. Front Row’s Reddick eyes superspeedway crown.​

Track and Weather Outlook

Dayton’s repave holds; new tire compounds emphasize strategy. Highs near 72°F, winds 10-15 mph from southwest—ideal for drafting packs.​

Caution flags average 10-12; fuel windows 45 laps. Stage points double in final run.​

Historical Daytona Milestones

First 500 in 1959 won by Lee Petty; 200-lap beast since 1969 extension. Jeff Gordon’s 1997 photo finish; Austin Dillon’s 2019 wall ride. 2026 marks FOX’s 22nd straight broadcast.​

Seven overtime finishes last decade underscore chaos potential.​

Sponsor and Prize Purse

Hyundai leads sponsors; purse tops $28 million, winner ~$2.5M. GEICO honors military pre-race; Coke Zero returns July.​

NASCAR Foundation auction raises funds; driver helmets fetch five figures.​

Fan Viewing Guide

Arrive by 10 a.m. for Lambert; infield screens everywhere. App tracks live leaderboards, cautions. Tailgate staples: BBQ, Busch Lights, cornhole.​

Betting legal in Florida—Byron -110 stage 1 fave. Fantasy NASCAR apps project Stenhouse regression.​

Broadcast Team Breakdown

Playoff Implications Early

Daytona points double via stages; top-10 locks stage win bonus. Crash reshuffles standings—2025’s top-5 all wrecked early.​

Regular season championship clincher sets Round of 8 by Talladega.​

Rival Series Action

Busch race Saturday 5 p.m. CW sets momentum; Truck opener Friday FS1. ARCA Friday night thriller previews talent.​

IMSA Rolex 24 aftermath lingers; prototypes share garage vibes.​

Economic Boost to Daytona Beach

$250M impact projected; 250,000 attendees fill hotels. Local vendors boom; beach traffic snarls I-95.​

Volusia County emergency crews stage for Big One wrecks.​

Legacy of the Great American Race

Daytona 500 crowns legends: Petty clan 10 wins; Earnhardt Sr. seven. 2026 honors Rick Hendrick’s 300th Cup victory pre-ring ceremony.​

Global reach: 10M+ U.S. viewers; international feeds to 200 countries.​

Must-Watch Moments

Lap 1 multicar pileup risk; Stage 1 end Lap 60 pit frenzy. Final 50-lap shootout decides it—expect side-draft duels.​

Tune in early; history awaits today.