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News of the day for Feb. 12, 2026

The major stock indexes closed slightly lower on Wednesday after a stronger-than-expected jobs report dimmed hopes that the Fed will be in a position to cut interest rates any time soon.

Michael Nagle / Bloomberg / Getty Images

Stock futures are higher this morning as investors evaluate more earnings reports and await the rest of this week's economic data; reports on weekly jobless claims and existing home sales are set to be released this morning ahead of tomorrow's key inflation report; Cisco shares are sinking despite solid quarterly results amid concerns about the impact of the ongoing shortage in memory chips on the company's margins; shares of Applovin are losing ground as the adtech company's revenue growth disappointed investors; and AB InBev shares are rising after the Budweiser parent reported better-than-expected results and touted the impact of major sporting events. Here's what you need to know today.

Stocks Point to Higher Open for Major Indexes

Stock futures are pointing to a slightly higher open Thursday after a relatively calm day of trading following the release of Wednesday's jobs report. Futures tied to the Dow Jones Industrial Average were up 0.2% recently, while those linked to the S&P 500 and tech-heavy Nasdaq added 0.3%. Each of the major indexes closed slightly lower on Wednesday, ending a three-session streak of record highs for the Dow. Gold futures were down slightly this morning at around $5,090 an ounce, while WTI futures, the U.S. crude oil benchmark, ticked lower to $64.50 per barrel. Bitcoin, which has fallen sharply in recent weeks, was holding steady at just below $68,000. The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, was at 4.16% this morning, down from yesterday's close of 4.18%.

Economic Data in Focus Ahead of CPI Report Friday

A busy week of economic data releases continues this morning with the release of reports on existing homes sales and initial jobless claims. The weekly jobless claims number, scheduled for release at 8:30 a.m. ET, is expected to come in at 225,000, down slightly from a week earlier, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The housing data, set to come out at 90 minutes later, is expected to show that home sales fell to 4.15 million last month from 4.35 million in December. The January jobs report released Wednesday showed that hiring was far stronger than expected and that the unemployment rate fell, leading investors to scale back expectations for the Federal Reserve to cut interest rates again any time soon. Market participants will be keenly focused on Friday's Consumer Price Index data for further information that will affect the Fed's thinking on rates.

Cisco Stock Falls Amid Memory Shortage Concerns

Shares of Cisco Systems (CSCO) are stumbling Thursday amid investor concerns about the impact of an ongoing memory chip shortage on the networking hardware maker's margins. Cisco on Wednesday afternoon reported $15.35 billion in revenue and $1.04 adjusted earnings per share for its fiscal second quarter, each better than analysts' estimates compiled by Visible Alpha. Cisco's third quarter and full year projections also came in above the analyst consensus. However, the company reported higher total cost of sales than expected, as a memory shortage driven by high demand for AI hardware has sent prices in the industry to record highs in recent months. That could weigh on Cisco's profit margins in the quarters to come. Cisco shares were down roughly 7% in recent premarket trading,

Applovin Slides as Revenue Growth Disappoints

Applovin Corp. (APP) shares are also losing ground even as the adtech company reported quarterly results that topped consensus Wall Street estimates. Applovin reported $1.66 billion in revenue along with adjusted EPS of $3.24. JPMorgan analysts said following the report that Applovin's revenue growth may not have been quite as strong as some investors had hoped, and cut their price target to $500 from $650, citing the stock's recent volatility as a concern. Applovin shares surged earlier this week after one of the multiple short sellers that have published reports on the company in the last year retracted its claims of money laundering. Other reports have alleged unethical, or "scammy," business practices, and in October a report emerged that the Securities and Exchange Commission was investigating the company's data collection practices. Applovin shares were down more than 7% ahead of the bell, trading at around $422. Coming into today's session the stock was up 20% over the past 12 months, but well off the record high near $750 set last fall.

Budweiser Parent AB-InBev Reports Strong Results

Shares of Anheuser-Busch InBev (BUD) are rising this morning after the beer giant's fourth-quarter results topped estimates amid enthusiasm about the impact of big sporting events on its sales. The Budweiser and Michelob Ultra maker posted revenue of $15.55 billion, while "underlying," or adjusted EPS came in at $0.95, each metric beating analyst forecasts. The company said advertising around big sporting events like the recent Super Bowl, the ongoing Winter Olympics, and this summer's World Cup make Anheuser-Busch "uniquely positioned to engage consumers and activate the category." Shares of the beverage maker were up 3% recently.

Robinhood CEO Vlad Tenev is expected to introduce new products at the company's "Take Flight" event next month.

Suhaimi Abdullah / Bloomberg / Getty Images

Key Takeaways

• Robinhood CEO Vlad Tenev said prediction markets are entering a "supercycle" that could eventually drive trillions of dollars in annual trading volume.
• Shares of the retail brokerage tumbled Wednesday after its quarterly sales missed estimates as cryptocurrency trading volumes plunged.

Investors dumped shares of Robinhood Wednesday after the company reported disappointing quarterly results. Its CEO says they should be excited about its newest slate of offerings, particularly in prediction markets.

"We're just at the beginning of a prediction market supercycle that could drive trillions in annual volume over time," Vlad Tenev told investors during the company's earnings call late Tuesday, according to a transcript provided by AlphaSense.

Robinhood said in its earnings report that its prediction markets volume more than doubled in the fourth quarter, with $12 billion in contracts in the first full year of operations in 2025. The company said it's already at $4 billion so far this year.

Why This Matters to Investors

Prediction markets have boomed in recent months, with Robinhood looking to take on leading players Kalshi and Polymarket with its latest offerings.

Tenev said on the call that Robinhood still plans to bring its own prediction market—operated as a joint venture with market maker Susquehanna International Group—online later this year. The move could give Robinhood more control over what contracts are offered, and better margins than partnering with another exchange operator.

Shares of Robinhood (HOOD) plunged close to 9% Wednesday after the retail brokerage posted fourth-quarter revenue that missed analysts' estimates, as cryptocurrency trading volumes plunged amid a pullback in the price of bitcoin and other major coins.

Tenev told CNBC in a televised interview Wednesday that he's "very bullish" on the crypto industry in the long run, and that the company plans to continue expanding its crypto offerings along with its rapidly growing prediction markets business.

Investors could get more details on Robinhood's upcoming projects next month, when the company hosts its "Take Flight" event scheduled on March 4, where Tenev is expected to introduce new products.

With Wednesday's drop, shares of Robinhood have lost nearly a third of their value year-to-date.

AI disruption fears have erased about 30% of Salesforce stock's value this year.

Michael Nagle / Bloomberg via Getty Images

Key Takeaways

• After last week's "broad and largely indiscriminate" software sell-off, some stocks within the industry are trading at a more than 50% discount to their fair value, Morgan Stanley analysts wrote in a note on Wednesday.
• Analyst say uncertainty about the future of the industry could continue to be a headwind for stocks without more evidence of AI-driven productivity gains or revenue growth.

Software stocks may be down, but they’re not out, according to analysts at Morgan Stanley.

Shares of software companies have been hammered this year by concerns that AI will upend the industry. The iShares Expanded Tech-software Sector ETF (IGV) has shed more than a fifth of its value since the start of the year, led lower by industry giants Intuit (INTU), ServiceNow (NOW), and Salesforce (CRM). 

Investors entered the year worried that increased competition from AI-native startups will pressure incumbents’ profit margins and AI tools will shrink corporate headcount, limiting seat-based revenue growth. Those fears reached a fever pitch last week when the release of AI legal tools by Anthropic sparked a sell-off dubbed “SaaSpocalypse.”

The rout was “broad and largely indiscriminate, with limited differentiation across business models or fundamentals,” wrote Morgan Stanley analysts in a note on Wednesday. That, they say, has created buying opportunities. 

Why This Is Important

Uncertainty about AI's development and the impacts of its deployment has repeatedly rocked the stock market in recent years. Each time investors have shaken off their concerns and driven stock prices higher.

Five software stocks covered by Morgan Stanley could double in value in the next 12 months if AI fears subside and the shares rebound to trade at what the firm says is their fair value. In that group are large caps Intuit and Salesforce, which, respectively, have 101% and 109% upside from Tuesday’s close. Mid caps ServiceTitan (TTAN), CCC Intelligent Solutions (CCC), and Vertex (VERX) should also more than double, according to the analysts. 

Plenty of experts have watched this year’s software slump with skepticism. Nvidia (NVDA) CEO Jensen Huang at an event last week called it “illogical” to think that AI will decimate the industry. Jefferies analysts on Sunday said negative sentiment had become “extreme,” and expressed confidence that “nimble” software providers could not just weather disruption, but leverage AI to their benefit. 

Investors are increasingly demanding companies demonstrate AI deployments are having a material impact on their finances. Shares of Microsoft (MSFT) and Amazon (AMZN) were hammered after cloud growth—their best proxy for AI-driven growth—came up short in recent earnings reports. Meta Platforms (META) showed AI tools helped to increase ad performance across its social media network, and its stock soared. 

Software companies have struggled to convince Wall Street that AI investments are delivering results. Doing so is likely one of the prerequisites of a sustained rebound in share prices, according to Jefferies. 

In the meantime, the market for tech stocks is likely to remain turbulent while a cloud of uncertainty looms over software. “As AI model capabilities continue to scale at a non-linear rate, disruption-related volatility is likely to remain a recurring feature,” said Morgan Stanley analysts. 

Some forecasters believe a drop in January could be the last good news on inflation for some time.

Mark Makela / Getty Images

Key Takeaways

• Forecasters expect inflation to have decelerated in January, with core prices rising 2.5% over the year, the lowest since 2021.
  
• Tariffs are still pushing up prices, but some costs, including for housing, aren't rising as quickly as they did a few years ago.
  
• Tame inflation could take pressure off the Federal Reserve to keep its key interest rate higher for longer to subdue price increases.
  

Price increases were likely relatively tame in January, with one key inflation measure expected to drop to its lowest level in nearly five years.

A report Friday from the Bureau of Labor Statistics is expected to show the Consumer Price Index rose 2.5% over the year in January, down from a 2.7% annual increase in December, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. That would be the lowest since May.

Core inflation, which excludes volatile food and energy prices, is forecast to fall to a 2.5% annual increase from 2.6% in December, hitting a fresh low since 2021.

What This Means For The Economy

If inflation resumes its downward trajectory, it could help household budgets and encourage more consumer spending, boosting the economy.

If the report matches expectations, it could bolster the argument of some forecasters who believe the effect of tariffs on inflation will fade steadily in the coming months as companies finish their tariff-related price hikes.

Inflation rates fell in 2024 and early 2025, and went into reverse mid-year when President Donald Trump imposed sweeping tariffs on nearly every U.S. trading partner. Import taxes have pushed up prices on many products, keeping inflation above the Federal Reserve's 2% annual target. However, some key prices, including for gasoline and rent, have stayed flat or fallen, keeping overall inflation from spiking.

Policymakers at the Fed will keep a close eye on incoming inflation data, especially core inflation, which economists consider a better barometer of price trends. Policymakers have been debating whether to resume cutting interest rates to bolster the job market like they did late last year, or keep them higher for longer to wrestle inflation down to the 2% target.

Financial markets expect the Fed to stay in "wait-and-see" mode at least until July, according to the CME Group's FedWatch tool, which forecasts rate cuts based on fed funds futures trading data. That expectation could change significantly depending on what the CPI actually shows.

Some forecasters believe a drop in January could be the last good news on inflation for some time. After that, the tax cuts from the "One Big, Beautiful Bill Act" go into effect, putting more money into the economy alongside the extra stimulus from the Fed's three rate cuts last year, which lowered borrowing costs.

"While both headline and core CPI should edge lower on a year‑over‑year basis in January, we do not expect much further cooling over the course of 2026 as easier fiscal and monetary policy lend some support to demand," economists at Wells Fargo Securities wrote in a commentary.

Investors have lately pulled shares of some companies lower on AI-powered uncertainty.

Spencer Platt / Getty Images

Key Takeaways

• Companies in the financial sector were the latest casualty of perceived AI-disruption fears.
• While some fears may appear overblown, it doesn't help that AI impact has become more measurable recently, making those concerns easier to quantify.

This week it was financials. Last week it was software and legal services. Perhaps next week something else will be crushed by fears of AI disruption.

Investors appear to have pivoted from worrying about AI getting over its skis in valuation terms, to fretting about what it could displace—and selling it.

Between Anthropic's unveiling of an AI model the company said would be better at tasks including financial analysis, research, and work involving spreadsheets, and with tech platform Altruist launching an AI-powered tax planning tool, investors have panned shares of financial companies like Charles Schwab (SCHW) and LPL Financial (LPLA) this week. The SPDR S&P Software & Services (XSW) and Financial Select Sector SPDR (XLF) ETFs are down 19% and 3%, year-to-date, respectively, while the benchmark index is in the green.

AI-related disruption, real or perceived, would appear to be entrenched in market vibes. That may, in part, be driven by the impact of the technology becoming more quantifiable. And it could be a source of indiscriminate selling going forward, with equity strategists saying "disruption-related volatility" is likely to be "recurring."

WHY THIS MATTERS TO INVESTORS

Broad market indexes are moving in fits and starts, with AI-related volatility interrupting rallies in the S&P 500 and the Nasdaq. That, some analysts say, means some stocks have been "mispriced" as investors have overreacted.

In a broader swath of companies tracked by Morgan Stanley, 30% cited at least one measurable impact of AI adoption in the fourth quarter of last year, the firm's equity analysts wrote Wednesday. That's up from 16% over the same period in 2024. That said, the perception of disruption has "unfairly" dinged companies, including those in the software and services sectors, the analysts said.

The firm listed a set of stocks that have been subsequently "mispriced"—including Microsoft (MSFT), Intuit (INTU), and Palo Alto Networks (PANW) as well as Sony Group (SONY), Tencent Holdings, and Spotify (SPOT).

Analysts across various firms are picking through their respective coverage universes to find stocks that deserve to be rescued because even valid concerns may have landed too early and too roughly.

"While difficult to disprove the bear narrative in software given fears are more about genAI implications for the industry in the out years, we contend that any meaningful disruption will likely play out over a much longer timeline than investors anticipate," Deutsche Bank's Brad Zelnick said in a Wednesday note.

Meanwhile, Ed Yardeni of Yardeni Research, reaffirmed his "overweight" recommendation, effectively a bullish posture, for financial stocks, characterizing the recent decline in the sector as a "sell first, ask questions later" reaction.

Scott Eisen / Getty Images

Key Takeaways

• A revision to historical job creation data showed the economy lost 48,000 jobs in January 2025 instead of gaining 111,000, wrecking former President Joe Biden's formerly perfect record on job creation.
  
• Until Wednesday, Biden was the only president who never presided over job losses while he was in office—now that's only true for full months of his presidency.
  

Unexpectedly upbeat job creation data released Wednesday by the Bureau of Labor Statistics gave President Donald Trump reason to celebrate, and added an asterisk to a record formerly held by his predecessor, Joe Biden.

What This Means For The Economy

The downward revisions of past job creation data do little to change the economic outlook, since forecasters had largely anticipated them.

Until Wednesday, the bureau's data on job creation showed the economy gained jobs every single month Joe Biden was president, making him the only commander-in-chief in history to have never presided over job losses.

However, a routine revision to data from 2024 and 2025 means that's no longer true: it turns out the economy actually lost 48,000 jobs in January 2025, a month that spans the presidencies of both Biden and Trump. Previously, the BLS had estimated the economy gained 111,000 jobs that month.

Biden could now only accurately say the economy never lost jobs in any full month he was president.

The BLS revises historical numbers regularly, as it incorporates data from surveys that come in after its monthly jobs reports are released and makes changes to its methodology.

Overall, the latest round of revisions showed employers added far fewer jobs over most of 2024 and 2025 than previously thought, making 2025 the worst year for job creation outside of a recession in more than two decades.

Further revisions are expected next month when the bureau is set to incorporate statistical changes due to population estimates.

Mattel makes Barbie dolls, Hot Wheels cars, and dozens of other brands of popular toys

Daniel Karmann / picture alliance / Getty Images

Key Takeaways

• Mattel shares tumbled Wednesday after the toy maker's fourth-quarter results fell short of estimates.
• Mattel also forecast profits could continue to decline this year, while analysts had been looking for growth.

The holidays have not been kind to Mattel's stock.

Shares of Mattel (MAT) were down nearly 25% to just under $16 in recent trading after the toy maker's latest earnings report covering the winter holiday shopping season—typically its strongest sales period of the year—disappointed.

The maker of Barbie, Hot Wheels, and dozens of other toy brands said after the bell Tuesday that it earned an adjusted 39 cents per share in the fourth quarter on $1.77 billion in revenue, each below the analyst consensus compiled by Visible Alpha.

Mattel CEO Ynon Kreiz said in Tuesday's earnings call that the company's December order growth was slower than expected after retailers spent the first part of the quarter catching up on orders delayed by uncertainty over the Trump administration's tariffs. Kreiz said the shortfall was largely in the U.S., as Mattel's international business grew as expected in the quarter, per an AlphaSense transcript.

Why This Matters to Investors

Mattel and rival toy maker Hasbro raised prices last year to help compensate for the impact of tariffs. Retailers have held back on some orders amid uncertainty around tariffs, Mattel said, and its sales growth in December didn't fully make up for those delays.

Mattel also warned earnings could decline this year, while analysts were looking for growth. The company projected adjusted EPS of $1.18 to $1.30 for 2026, down from $1.41 in 2025, though revenues are seen growing 3% to 6%, roughly in line with expectations.

Mattel on Tuesday also announced an agreement to acquire the remaining stake in Mattel163, the company that makes mobile games based on Mattel properties, from its 50% partner NetEase (NTES). The toy maker announced a multi-year licensing deal with Paramount Skydance (PSKY) to make Teenage Mutant Ninja Turtle toys as well.

JPMorgan analysts downgraded Mattel stock to "underweight" and cut their price target to $14 from $23 following Tuesday's results, citing uncertainty over when Mattel's key Barbie business will improve, along with fears that Mattel's plans to make 2026 an "investment year" will hamper the company's margins.

UBS analysts kept their "buy" rating and $30 price target, writing they "continue to believe Mattel is in early innings of realizing the full potential of its [intellectual property]," but said Mattel's plans to invest $150 million in its businesses this year will likely push back its timeline to grow profits.

Wednesday's drop brought Mattel stock to its lowest level since last April, when tariff uncertainty hammered the stock.

Heavy snow and bitter cold across the U.S. slowed economic activity.

Celal Gunes / Anadolu via Getty Images

Key Takeaways

• The unusually cold weather that gripped much of the country in late January and early February was harsh enough to have a material impact on the economy.
  
• Car sales plunged and natural gas prices surged, and forecasters expect housing construction to tank.
  
• The effects of the storms are likely to be mostly temporary, as most economic activity is merely being delayed.
  

There's cold weather, and then there's weather so cold you can see it on a thermometer and even in the economic data.

The winter storms that blanketed the country in snow and ice from New Mexico to Maine in January and February were large enough to affect the entire U.S. economy. Economists saw effects of the unusually cold weather in natural gas prices and retail sales, for instance, and predict ripple effects in areas like housing in the coming months.

Economic fallout from the weather is hardly unusual, but the culprit is often hurricanes, not a cold snap. Unlike hurricanes, the severe winter weather did not destroy vast amounts of infrastructure—but it did keep people indoors and out of stores and restaurants, which was enough to impact the economy.

What This Means For The Economy

The unusual spell of snowstorms and cold weather this winter could have a significant impact on the overall economy, experts say, but it isn't expected to lead to broader weakness.

"The winter storm that swept across much of the nation at the end of January will temporarily depress economic activity and generate volatility across a range of indicators," Matthew Martin, senior U.S. economist at Oxford Economics, wrote in a commentary. "Taken together, the combination of widespread cold and meaningful snowfall suggests this storm could rank among the more economically disruptive winter events of the past several decades." 

For instance, harsh weather may have contributed to the nosedive in January vehicle sales reported by the Bureau of Economic Analysis last week.

"Unit vehicle sales plunged to a three-year low in January, probably due in part at least to the harsh winter storm, which likely weighed on spending more broadly," economists at Pantheon Macroeconomics wrote in a commentary.

Car Sales Slow, Natural Gas Spikes

"The drag on auto sales likely reflects the fact that car purchases typically require shoppers to travel to a dealership and test-drive vehicles, which they are less likely to do during a snowstorm," Jessica Rindels, an economist at Goldman Sachs, wrote in a commentary.

The drag on overall retail sales could be minimal because shoppers tend to stock up on food and other supplies before storms hit.

As people cranked up the heat, natural gas reserves dwindled and prices shot up. The week ending Jan. 30 marked the biggest inventory drawdown of natural gas since the Energy Information Administration started keeping track in 2010, the EIA said Tuesday. Wholesale gas prices rose 81% in January from December, and the EIA bumped up its forecast for prices this year to be 25% higher than its previous estimate.

Homebuilding Will Take A Hit

The cold weather will have a more serious impact on housing construction in the coming months, and will drag down residential investment growth to -3% in the first quarter, Rindels predicted.

"The colder- and snowier-than-usual weather will weigh on upcoming data releases, though snowstorms tend to have less impact on economic data than other natural disasters because they typically reduce activity without causing widespread damage that is costly and time-consuming to fix," Rindels wrote.

Forecasters expect the economy, as measured by Gross Domestic Product, to bounce back from the downturn in subsequent months, as people make up for the shopping they didn't do while stuck inside. Unless, that is, there is more bad weather.

"Although winter storms can temporarily depress economic activity, with the timing so early in the quarter, we don't expect it to leave a large dent in Q1 GDP, as any lost output is likely to be made up in February and March," Martin wrote on Monday. "Though additional large winter storms or any additional cold spells, such as the one that hit the Northeast this weekend and sent temperatures well below zero, could delay any bounceback until Q2."

David Ryder / Bloomberg via Getty Images

Key Takeaways

• Employers added 130,000 jobs and the unemployment rate fell to 4.3% in January.
  
• Revisions to older data showed the labor market struggled more than previously thought in 2025.
  

It turns out that 2025 was worse for job creation than previously thought, and 2026 got off to a better start than almost anyone expected.

U.S. employers added 130,000 jobs in January, up from 48,000 in December, the Bureau of Labor Statistics said Wednesday. That blew past forecaster expectations for a gain of 55,000 jobs, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The unemployment rate fell to 4.3% from 4.4%, hitting its lowest since August.

What This Means For The Economy

The faster-than-expected job creation in January could relieve some fears about a hiring downturn. It could also keep officials at the Federal Reserve focused on inflation and reduce pressure on the Fed to cut interest rates to help the job market.

On the other hand, job creation for previous months was downwardly revised significantly after the bureau incorporated new data that wasn't available when the initial monthly reports were created. The economy only added 181,000 jobs in 2025, not the 584,000 previously thought, and job creation over the 12 months through March 2025 was reduced by 898,000. That made 2025 the worst year for job creation outside of a recession since 2003.

"This is still a largely frozen job market, but it is stabilizing," Heather Long, chief economist at Navy Federal Credit Union, wrote in a commentary. "That’s an encouraging sign to start the year, especially after the hiring recession in 2025.”

The report showed the job market could be regaining some momentum after several other recent indicators flashed warning signs, including a steep decline in job openings in December.

Most of the hiring was in the health care sector, which added 137,000 jobs, offsetting losses in government, finance, and transportation and warehousing. Manufacturing added 5,000 jobs, the first increase in manufacturing employment since November 2024.

If hiring continues to improve, it could help resolve the recent contradiction in economic statistics. By some important metrics, the economy has been growing steadily and the stock market is booming. However, the public has become more pessimistic because of strained household budgets and a stagnant job market. With the job market on life support outside of health care, a downturn and an upswing are both still very real possibilities.

"At some point, either the hiring rate will increase, and payroll employment reports will improve, or the flame will be turned up on the low-fire dynamic, and unemployment rates will begin to increase," Laura Ullrich, director of economic research at the hiring lab at job site Indeed, wrote in a commentary. "In the face of ongoing uncertainty, workers are likely to continue hugging the jobs they do have and unemployed workers will continue to face limited choices and long job hunts."

Update, Feb. 11, 2026—This article has been updated after publication to include comments from economists.

News of the day for Feb. 11, 2026

The Dow Jones Industrial Average closed at a record high for the third session in a row Tuesday, while the S&P 500 and the Nasdaq Composite fell slightly.

Spencer Platt / Getty Images

Stock futures are little changed as investors evaluate a new slate of earnings reports and await the release of important data on the U.S. labor market; the January jobs report, due this morning, is expected to show that employers added slightly more jobs last month than in December; Mattel stock is plunging after the Barbie maker's fourth-quarter results and profit outlook disappointed; Lyft shares are also down after it reported slower ride growth than expected; and Robinhood stock is losing ground after the trading platform reported disappointing revenue growth. Here's what you need to know this morning.

Stock Futures Hold Steady Ahead of Jobs Data

Stock futures are holding steady this morning after another batch of earnings reports, as investors prepare for the release of the highly anticipated January jobs report. Futures tied to the Dow Jones Industrial Average, the S&P 500 and the tech-heavy Nasdaq were each up 0.1% recently. The major indexes had a mixed day on Tuesday, with the Dow closing at an all-time high for the third day in a row, while the S&P 500 and Nasdaq each ended lower. Gold futures were up 1.7% recently at around $5,120 an ounce, while oil futures surged more than 2% to $65.40 per barrel. Bitcoin is slumping again after recovering some of the ground it lost during a sell-off last week; the cryptocurrency was at $67,200, down from yesterday's high of near $70,000. The yield on the 10-year Treasury note, which affects borrowing costs on a wide array of consumer loans, ticked lower to 4.14% and was trading near its lowest levels of 2026.

January Jobs Report Due Out This Morning

Investors are awaiting a vital piece of economic data this morning, with the January jobs report scheduled to be released at 8:30 a.m. ET. Originally set for release last week, the report was delayed by a short government shutdown. The U.S. economy is expected to have added about 55,000 jobs in January, up from 50,000 in December, while the unemployment rate is expected to stay flat at around 4.4%. The report will also likely include revisions for the last few months of jobs data, including a final version of the preliminary report released last September that said the economy actually added nearly 1 million fewer jobs than what was reported between March 2024 and March 2025. The jobs data, along with the inflation report due out on Friday, will each serve as important factors in what the Federal Reserve decides to do with interest rates in the months to come. The Fed aims to keep a lid on inflation while improving a job market that has shown signs of weakness.

Mattel Stock Plummets on Weak Results, Outlook

Mattel (MAT) shares are plunging after the toy maker's results and profit outlook came in short of Wall Street expectations. The maker of Barbie, Hot Wheels and dozens of other toy brands said after the bell Tuesday that it earned an adjusted 39 cents per share in the fourth quarter on $1.77 billion in revenue, each below the analyst consensus compiled by Visible Alpha. While sales and profits grew in the fourth quarter, Mattel posted declines in sales and adjusted EPS for the full year. For 2026, Mattel said it expects sales to grow by 3% to 6%, roughly in line with expectations, while adjusted EPS is projected to decline to between $1.18 and $1.30 from $1.41 in 2025, a surprise as analysts had forecast growing profits for 2026. Mattel shares were down nearly 30% in recent premarket trading, on track to hit their lowest level since last April.

Lyft Stock Sinks as Results Miss Expectations

Shares of Lyft (LYFT) are also tumbling this morning after the ridesharing giant's fourth-quarter revenue and several user metrics came in below expectations. Lyft said Tuesday afternoon that it generated $1.59 billion in revenue on $5.07 billion in gross bookings, along with reporting 243.5 million rides across 29.2 million active riders. Each metric came in below the analyst consensus compiled by Visible Alpha. Lyft's net income came in well above estimates thanks to a one-time tax benefit, but the company posted an operating loss of $188.37 million, while analysts had forecast a $32 million operating profit. Lyft shares, which through Tuesday's close were flat over the past 12 months, fell more than 15% ahead of the opening bell.

Robinhood Falls on Sluggish Revenue, Trading Activity

Robinhood (HOOD) shares are slumping as well this morning after the online brokerage posted fourth-quarter results that included lackluster growth. Robinhood's revenue grew to $1.28 billion, while transaction-based revenue came in at $776 million and it reported $324 million in total platform assets, all three metrics falling short of analysts' estimates. Earnings per share of 66 cents came in 4 cents above estimates. The stock has had a rough few weeks as its ties to the crypto markets have weighed on sentiment amid a sell-off for bitcoin. Robinhood shares were down 8% recently.