Macro Update & Top Ideas - February 2026
Key Topics
Markets have turned choppy early in 2026. Technology leadership is under pressure, crypto has retraced sharply, and investor sentiment has weakened even as broader indices remain resilient.
In Fundstrat’s latest Macro Update and Top Stock Ideas webinar, Tom Lee and Mark Newton explain why this environment looks less like the end of the bull market and more like a shift in leadership beneath the surface.
Tom breaks down the macro forces driving today’s volatility, including why the surge and sudden pullback in gold and silver may mark an important inflection point for equities. Mark then walks through the charts to show how AI driven disruption is impacting software, why select sectors are holding up, and where relative strength is emerging across stocks.
Watch the replay to hear Tom and Mark discuss:
-Why the recent move in precious metals may be losing momentum and what that historically signals for stocks
-How AI disruption is reshaping software and changing tech leadership in 2026
-Why equal weighted indices, cyclicals, and financials are showing resilience despite mega cap pressure
-What recent crypto drawdowns may be signaling for Bitcoin and Ethereum in the near term
–Fundstrat’s top 5 large cap and top 5 SMID cap stock ideas
Panel of Speakers
Thomas Lee, CFA AC
Head of Research
Thomas Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is an accomplished Wall Street strategist with over 25 years of experience in equity research, and has been top-ranked by Institutional Investor every year since 1998. Prior to co-founding Fundstrat, he served as J.P. Morgan’s Chief Equity Strategist from 2007 to 2014, and previously as Managing Director at Salomon Smith Barney. His areas of expertise include Market Strategy, Small/Mid-Cap Strategy and Telecom Services. Mr. Lee received his BSE from the Wharton School at University of Pennsylvania with concentrations in Finance and Accounting. He is a CFA charterholder and is an active member of NYSSA and the NY Economic Club.
Mark L. Newton, CMT AC
Head of Technical Strategy
As former managing member/owner of Newton Advisors LLC, Mark has over 25 years of buy- and sell-side experience. Before Fundstrat, he worked at Diamondback Capital Management, and at Morgan Stanley, as a technical strategist. Mark has traded equity options as a market maker / floor trader on the CBOE, and has worked in risk management. He is a member of the Market Technicians Association, and former member of the CBOE, CBOT, and PHLX. He makes regular appearances on CNBC, FOX Business, and Bloomberg. Mark graduated with a BS in Finance from Virginia Tech in 1991, obtaining his Chartered Market Technician designation in 2002.