To The Moon

The stock market delivered another head fake Thursday.

After opening higher on overseas momentum, all three major indexes reversed sharply into the close , extending what has become a frustrating pattern for investors.

The Dow Jones Industrial Average fell 669 points (-1.3%), while the $S&P 500(.SPX)$ dropped 1.6%. The tech-heavy Nasdaq Composite sank 2.0%, leading the declines. $Apple(AAPL)$ $NVIDIA(NVDA)$ $Palantir Technologies Inc.(PLTR)$

Sell-Off...

All three major averages are now on track for weekly losses exceeding 1%.

Another Intraday Reversal

Thursday’s selloff continued a recent pattern: strong openings followed by steady fades.

Recent sessions have shown similar behavior, with dip buyers sometimes stepping in late. This time, the rebound never materialized…

The biggest weakness came from technology stocks, dragging the Nasdaq lower and weighing heavily on broader benchmarks.

Existing Home Sales Plunge 8.4%

Part of the decline followed fresh housing data showing existing home sales fell 8.4% in January, according to new government figures.

Key takeaways:

• Sales declined across all regions

• Largest percentage drops occurred in the South and West

• Median home prices rose less than 1% year over year

While some weakness may be weather-related, economists note that soft demand is now weighing on home price appreciation. A cooling housing market adds to concerns that consumer activity may be slowing.

Market Snapshot (Feb. 12, 2026)

• Dow Jones Industrial Average: 49,451.98 (-1.34%)

• S&P 500: 6,832.76 (-1.57%)

• Nasdaq Composite: 22,597.15 (-2.03%)

• Hot Stock: $Equinix(EQIX)$ (+10.4%)

• Biggest Loser: $AppLovin Corporation(APP)$ (-19.7%)

• Best Sector: Utilities (+1.5%)

• Worst Sector: Information Technology (-2.7%)

CPI Preview: Inflation May Cool… But the Fed Is Watching Jobs

Investors now turn their attention to Friday’s January Consumer Price Index (CPI) report, scheduled for release at 8:30 a.m. ET.

What Economists Expect:

• Headline CPI: +0.3% month over month

• Annual inflation: 2.5% (down from 2.7%)

• Core CPI: +0.3% monthly

• Core annual rate: 2.5%–2.6%

Falling gasoline prices are expected to offset higher food costs, helping deliver a softer headline number.

However, a cooler inflation print may not significantly alter the Federal Reserve’s stance.

Inflation Takes a Back Seat to the Labor Market

Recent messaging from policymakers suggests that labor market data now carries more weight than inflation in rate decision-making.

The Federal Open Market Committee meets March 17–18, and analysts say rate cuts remain unlikely unless:

• Inflation reaccelerates meaningfully

• Inflation expectations become unanchored

• Or the labor market weakens materially

Some economists warn January data can be seasonally distorted. Others see upside risks, with Royal Bank of Canada forecasting core inflation at 0.4% month over month, above consensus.

In short: inflation may cool, but the Federal Reserve is unlikely to pivot quickly…

[Salute]

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This summary is for informational purposes only and does not constitute financial advice. Investors should conduct their own research before making investment decisions.

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