OPENING CALL

Stock futures were on the rise ahead of more earnings and as investors await inflation data following January's stronger-than-expected jobs report.

"Overall, while the January report was undeniably strong, the broader trend continues to signal a structural slowdown in U.S. employment growth ," Danske Bank said.

Investors have pushed back expectations for a rate cut by the Federal Reserve to July from June , as the data print suggests less of a need for additional monetary easing to lift the labor market, Clearbridge Investments said.

However, the impact of the data on markets is limited as Trump called for further rate cuts, citing the data.

Focus is now on the consumer-inflation reading due tomorrow. Economists polled by The Wall Street Journal forecast that inflation rose 2.5% from a year earlier, easing slightly from December's 2.7% rise.

Markets have also been jittery in recent weeks as anxieties over the potential disruption from artificial intelligence spread, knocking shares of software companies, publishers, financial-services firms and others.

More earnings results are expected today, including from Airbnb, Applied Materials and Coinbase, among others.

Stocks to watch

AppLovin's quarterly results topped expectations. Still, shares fell roughly 5.5% premarket as investors remain jittery about AI's potential impact on the business.

Cisco logged higher revenue due to increasing AI hyperscaler demand. Shares fell about 7.5% premarket, however, after a strong run for the stock so far in 2026.

CoreCivic signed more contracts with Immigration and Customs Enforcement and posted better-than-forecast quarterly results. The company expects increased government demand to continue this year. Shares gained around 5.5% offhours.

McDonald's reported stronger-than-expected growth in same-store sales and said its value campaign is paying off.

Novocure said the Food and Drug Administration approved its Optune Pax treatment for pancreatic cancers. Shares soared roughly one-third premarket. The stock has fallen more than 50% over the past 12 months.

Pilgrim's Pride posted disappointing quarterly results. Shares dropped 4% in offhours trading.

Watch For:

U.S. Existing Home Sales for January; U.S. Weekly Jobless Claims; Federal Reserve Governor Stephen Miran and FRB Dallas President Lorie Logan speak at Global Perspectives event

Today's Top Headlines/Must Reads:

-The Demand for Bonds Is Insatiable. Even Risky Borrowers Are Reaping the Benefits.

-Savior or 'Supervillain'? A Trump Ally's Gamble to Unlock Venezuela's Oil

-Big Tech Accounting Creates a Blind Spot in the AI Boom

MARKET WRAPS

Forex:

The dollar fell. The greenback's failure to rise more meaningfully in response to Wednesday's stronger-than-expected U.S. jobs data signals lingering negative bias towards the currency , ING said.

The euro rose. The currency remained largely driven by the dollar and U.S. developments but eurozone fundamentals were still broadly supportive, Monex Europe said.

Sterling was little moved, remaining steady against the dollar and the euro, after data showed the U.K. economy grew slightly less than expected in the fourth quarter of 2025.

Bonds:

Treasury yields fell in European trade as investors prefer to err on the side of caution on the U.S. economic outlook, despite solid labor data on Wednesday.

Energy:

Oil prices rose in early trading as tensions between the U.S. and Iran keep markets on edge.

"While crude has posted gains in nearly every week this year due to recurring geopolitical risks , data showed US inventories surged to the highest level since June, reinforcing expectations of ample supply," MUFG said.

Global oil supply is expected to rebound in the coming months after plunging in January due to a severe winter storm in the U.S. and export constraints that curtailed flows from Kazakhstan, Russia and Venezuela, according to the International Energy Agency.

Metals:

Gold prices eased in early trading, with New York futures holding below $5,100.

"The renewed focus on incoming economic data suggests a degree of normalisation following the recent volatility spike, while the upcoming Lunar New Year holiday in China may further dampen risk appetite and liquidity," Saxo Bank said.

Iron

Iron ore edged higher in Asian trading. Futures were little changed, as the industry is slowing ahead of the Lunar New Year holidays, ANZ said.

   TODAY'S TOP HEADLINES 

Unilever Sales Growth Picks Up Despite U.S. Slowdown

Unilever said underlying sales growth picked up in the fourth quarter, with an acceleration in Asia offsetting slower demand in the U.S. and Europe, as the consumer-goods giant bets on a shift to faster-growing categories.

The maker of Dove soap and Knorr stock cubes is in the midst of a strategic turnaround, while it slims down a portfolio that houses hundreds of brands. The company, which recently spun off its ice-cream business to form Magnum Ice Cream, is betting that a pivot to fewer, bigger brands will help it navigate a tough consumer backdrop.

Siemens Shares Jump on Lifted Outlook, Market View Beat

Shares in Siemens rose after the industrial group raised its earnings guidance for fiscal 2026 and beat market expectations for the first quarter thanks to a boost from artificial intelligence demand.

The German company said Thursday that its digital-industries division recorded a substantial profit increase in the quarter ended December, driven by the automation and software businesses, which won several large contracts. Orders and revenue were up in all reporting regions, with strong comparable increases in both the U.S. and China, the conglomerate said.

Nissan Motor Projects $4.2 Billion Annual Loss on Restructuring Costs

Nissan Motor extended its streak of losses as it continued to struggle with U.S. tariffs and weaker sales, projecting an annual net loss of $4.2 billion on restructuring costs.

The Japanese carmaker on Thursday recorded net loss of 28.3 billion yen, equivalent to $184.6 million, for the three months ended December, widening from Yen14.1 billion a year earlier. Analysts had expected net loss of Yen71.38 billion, according to a poll by data provider Quick.

Samsung Begins Shipments of HBM4 Products

Samsung Electronics has begun shipments of the most advanced high-bandwidth memory products, known as HBM4.

The South Korean technology giant said Thursday that it is the world's first to mass produce and ship the industry's highest-performance HBM4 products. The company is looking to dominate the HBM4 market after lagging behind its rivals in recent quarters.

Big Tech Accounting Creates a Blind Spot in the AI Boom

Just five big tech companies are projected to spend a total of $3 trillion on property and equipment over the next four years, and that rapid growth is making it harder to analyze their earnings.

The surge in capital spending for things like new gigantic data centers means depreciation expenses will be soaring in the coming years. Much of the equipment these companies are buying, such as chips for artificial intelligence, will be gradually written down in value over five or six years, hitting profits.

The Demand for Bonds Is Insatiable. Even Risky Borrowers Are Reaping the Benefits.

A new AI borrowing frenzy and lingering fears about potential defaults haven't deterred investors hungry for bonds from U.S. companies, states and cities.

The extra yield-or spread-that investors demand to hold highly rated corporate bonds instead of ultrasafe U.S. Treasurys hit a 27-year low in late January. Spreads on speculative-grade corporate bonds dropped to an 18-year low. In the $4 trillion municipal bond market, the spread between interest rates on triple-A and triple-B bonds is at one of its lowest points in two years.

IEA Expects Oil Supply to Rebound After U.S. Winter Storm Slashed Output

The International Energy Agency expects global oil supply to rebound in the coming months after plunging in January due to a severe winter storm in the U.S. and export constraints that curtailed flows from Kazakhstan, Russia and Venezuela.

The Paris-based organization-which represents major oil-consuming nations-said supply fell 1.2 million barrels a day last month as frigid temperatures, heavy snow, and ice storms forced shutdowns of oil fields and infrastructure, shaving roughly 860,000 barrels a day in the U.S. and 220,000 barrels a day in Canada.

Ukrainian Athlete Banned From Olympics for Helmet Honoring War Dead

MILAN-Ukrainian skeleton athlete Vladyslav Heraskevych was disqualified from the Winter Olympics on Thursday for wearing a helmet that featured images of Ukrainian athletes killed during the Russian invasion, the International Olympic Committee said.

Although Heraskevych wore the helmet throughout training, the IOC ruled that the design violated the Olympic guidelines and couldn't be worn in competition. The 27-year old, who wasn't among the favorites to win a medal, was due to start competing on Thursday.

Sanctions, Ship Seizures and Low Prices Squeeze Russia's Oil Industry

Dozens of tankers filled with Russian oil are floating at sea without buyers. Western powers are seizing the aging ships the country relies upon. Buyers of Russian oil are demanding the steepest discount to global oil prices since the early months of the war in Ukraine.

It all spells crunchtime from Moscow's most important economic engine.

GOP-Led House Rejects Trump's Tariffs on Canada

WASHINGTON-The GOP-led House passed a resolution Wednesday designed to roll back President Trump's tariffs on Canada, as a half-dozen Republicans joined Democrats in rebuking the administration's signature economic policy.

(MORE TO FOLLOW) Dow Jones Newswires

February 12, 2026 06:03 ET (11:03 GMT)

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