Opening Comment — Friday, February 13, 2026
DJIA: 49,451.98, down 669.42
S&P 500: 6,832.76, down 108.71
NASDAQ: 22,597.15, down 469.32
Stocks lower ahead of CPI data
Stock futures are lower Friday morning as investors await today’s Consumer Price Index (CPI) data release for January. As of 7:15 AM ET, the Dow and the S&P 500 Index are both decreasing 0.3%. The Nasdaq 100 is also falling 0.3% relative to fair value on the GLOBEX.
U.S. equities were lower on Thursday as initial jobless claims eased and continuing claims for the week prior rose. Existing home sales declined more than expected in January, falling to an annualized pace of 3.91 million units. The Dow was down 1.3%, while the tech-heavy Nasdaq Composite fell 2.0%. The S&P 500 decreased 1.6% with seven of 11 sectors finishing in negative territory. The Utilities sector was the top performer, rising 1.5%, while the Information Technology sector was the bottom performer, falling 2.7%.
Technical Analysis
As of midday Thursday, the S&P 500 Index is still in an uptrend, with support at the 200 day moving average (6,498) and resistance at the 50 day moving average (6,895).
On the data front, the headline CPI for January is expected to show price increases of 0.3% month-over-month (MOM) and 2.5% year-over-year (YOY), versus the prior month’s increases of 0.3% and 2.7%, respectively. Meanwhile, core CPI is expected to show price increases of 0.3% MOM and 2.5% YOY, versus the prior month’s increases of 0.2% and 2.6%, respectively. Data on January’s average hourly and weekly earnings is also scheduled for release, along with the annual revisions to the seasonal adjustment factors.
Across the pond, European stocks are lower in mid-day trading as the second reading of fourth-quarter eurozone gross domestic product (GDP) held steady at 0.3% quarter-over-quarter (QOQ) and 1.3% YOY. The bloc’s trade surplus widened in December, and preliminary fourth-quarter employment increased by 0.2% QOQ and 0.6% YOY.
Overnight in Asia, stocks were lower as South Korea’s Export Price Index registered increases of 4.0% MOM and 7.8% YOY in January, while the Import Price Index rose by 0.4% MOM and decreased by 1.2% YOY. Meanwhile, China’s M1 money supply increased by 4.9% YOY in January, while M2 grew by 9.0%.
In FOREX trading, the U.S. dollar is slightly higher ahead of today’s U.S. CPI data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.8% lower at $62.34/barrel amidst easing geopolitical worries.
In the metals complex, gold is 0.6% higher at $4,951.99/ounce despite a strengthening U.S. dollar.