20/02/2026 Daily Reports
Markets Brace for $3T Options Shock as Oil Jumps on Iran Risk; Equities Pull Back, Gold Holds Near Highs
- Global markets are turning cautious ahead of a massive $3 trillion options expiration and key U.S. macro data. In the U.S., the Nasdaq Composite faces elevated volatility risks as investors await Core PCE inflation and Q4 GDP revisions. Strong industrial production has offered some support, but the latest signals from the Federal Reserve have dampened expectations for near-term rate cuts.
- In Japan, the Nikkei 225 fell 1.11% as markets consolidated following record highs above 57,000. Despite the new government’s pro-growth and dovish policy stance, profit-taking is emerging after the sharp rally. European equities are also softer, with Germany’s DAX down 0.93% amid concerns over energy-driven inflation and spillover from U.S. rate uncertainty, even as late-2025 Eurozone growth surprised to the upside.
- In commodities, Brent crude surged toward $72 per barrel—its highest in six months—driven by escalating U.S.-Iran tensions and fears of supply disruption in the Strait of Hormuz. A larger-than-expected 9 million barrel draw in U.S. inventories added further support.
- Precious metals are steady but capped. Gold is hovering near the key $5,000 level, supported by safe-haven demand but restrained by a stronger dollar and the Fed’s higher-for-longer stance. Silver is tracking gold in a tight range, with low volatility as traders watch industrial demand signals and broader risk sentiment.
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