February 23, 2026

By Nigam Arora

To gain an edge, this is what you need to know today.

Contrary Arora Call

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

• The chart shows a rally in tech stocks when the Supreme Court decision came out striking President Trump’s tariffs.
• The Interim Capsule provided to members of The Arora Report immediately after the Supreme Court decision now seems prescient.  We wrote:

The Supreme Court has ruled against the Trump tariffs saying the president does not have the authority to impose tariffs under IEEPA.  The stock market has staged a vigorous rally in response.