Good Morning Investors!!! Markets ended yesterday with a tech-sized thud and a bond-sized sigh of relief: the Nasdaq slid about 2% while the 10-year yield dipped to roughly 4.10%. This morning’s Consumer Price Index (CPI) took a little edge off the worry, with headline inflation at +0.2% month over month versus +0.3% expected, and +2.4% year over year versus +2.5% expected, while core CPI came in right on target. Now the big question is whether that “cooler headline, steady core” mix is enough to steady growth stocks, or if investors still want to play defense. Also in the mix: Rivian is jumping after fresh targets and more R2 chatter, and we are spotlighting pet care as the market’s comfort-food aisle, because most households will cut extras before they cut kibble.
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Key Market Drivers
Tech takes a hit as AI worries spread: The Nasdaq slid 2.0% Thursday and the S&P 500 fell 1.6% to 6,832.76, with Apple down about 5% and Cisco off 12.3%. Investors are increasingly treating artificial intelligence (AI) as a “winners vs. losers” story, punishing companies where AI pressure shows up first in margins, competition, or guidance. Because mega-cap tech is a heavy weight in major indexes, a tech selloff usually bleeds into index ETFs and compresses valuation multiples across growth. One bright spot early Friday: Applied Materials is up about 12% in premarket trading after a strong outlook — potential support for semis. Bonds rally as investors look for cover: The 10-year Treasury yield sank 8.1 basis points (one-hundredth of a percent) to 4.102% Thursday. After this morning’s CPI came in a touch softer than expected on the headline, yields drifted lower again, with the 10-year near ~4.08% shortly after the release as traders leaned back into the “cuts later this year” narrative. Lower yields can ease borrowing costs and lift housing and growth stocks. But if yields fall because investors are nervous, stocks can still struggle. With CPI now in hand, the key level is whether the 10-year stays near/below ~4.10%—or snaps back toward ~4.15% if traders decide the core inflation trend is still sticky. 
10 Year Treasury Yield, Feb 13, 2026
CPI is a major headline today: The January CPI report came in cooler than expected on the headline: +0.2% month over month (vs +0.3% forecast) and +2.4% year over year (vs +2.5% forecast). Core CPI (excluding food and energy) was in line at +0.3% m/m and +2.5% y/y. Under the hood, shelter was again a major driver (+0.2%), while energy prices fell (‑1.5%). Markets treated it as mildly supportive rather than a game-changer: stock futures pared moves right after the release, and Treasury yields edged lower. In rate‑cut pricing, the June meeting still looks like the first real “live” one—futures imply roughly ~34% odds of no cut by June vs ~66% odds of at least one cut (with one cut the single most likely outcome). The investment takeaway: the softer headline helps long-duration assets (growth/tech) on valuation math, but an “in-line” core print keeps the Fed in wait‑and‑see mode—so positioning may stay choppy, with sentiment still heavily tied to the AI-led risk-off narrative. Tariff rollback chatter dents metals, tests Asia mood: Aluminum slid 1.9% to $3,040.50 per metric ton on the London Metal Exchange after reports that the U.S. may scale back some steel and aluminum tariffs. Risk-off spillover hit Asia too: Hong Kong’s Hang Seng fell about 1.7% and Japan’s Nikkei dropped 1.2%, while Europe’s STOXX 600 was roughly flat heading into Friday’s session. If tariffs are pared back, it can lower input costs for downstream manufacturers (cans, autos, appliances) and modestly reduce goods inflation — but it can squeeze margins for U.S. steel/aluminum producers that benefited from tariff protection. The next tell is confirmation and specifics on which products (and tariff lines) get carved out. |
FRI Feb 13, 2026 | 8:30 AM ET
Consumer Price Index (key inflation report): Actual +0.2% month over month vs +0.3% consensus; +2.4% year over year vs +2.5% consensus. Core CPI (inflation minus food and energy) was +0.3% month over month vs +0.3% consensus; +2.5% year over year vs +2.5% consensus.
FRI Feb 13, 2026 | 8:30 AM ET
Real Earnings: Real average hourly earnings rose +0.3% in January; real average weekly earnings rose +0.5% (seasonally adjusted).
FRI Feb 13, 2026 | 8:00 AM ET
Moderna (MRNA): Q4 revenue was $678M; the loss was $2.11 per share. Full-year 2025 revenue was $1.94B; the company reiterated a 2026 goal of up to 10% revenue growth (update call at 8:00 AM ET).
FRI Feb 13, 2026 | 8:00 AM ET
Advance Auto Parts (AAP): Q4 net sales were $2.0B; adjusted profit was $0.86 per share; comparable store sales rose +1.1%. 2026 guidance: net sales $8.485B–$8.575B; comparable store sales +1% to +2%; adjusted profit $2.40–$3.10 per share (conference call at 8:00 AM ET).
FRI Feb 13, 2026 | 8:30 AM ET
The Wendy’s Company (WEN): Q4 revenue was $543M; adjusted profit was $0.16 per share; U.S. same-restaurant sales (locations open at least a year) fell 11.3%. 2026 outlook: adjusted profit $0.56–$0.60 per share; free cash flow (cash left after expenses and investment) $190M–$205M (conference call at 8:30 AM ET).
Thoughts from InvestorsGrow:
If markets had a thermostat, CPI is still the dial everyone crowds around, and today it ticked a bit cooler. Headline prices rose +0.2% in January versus +0.3% expected, and the year-over-year pace came in at +2.4% versus +2.5% expected. That can take a little pressure off interest rates.
Core CPI, the “no food, no gas” version, was steady at +0.3% for the month and +2.5% for the year, right in line with expectations. That is not a victory lap, but it also is not a surprise party. The next tell is how the bond market reacts into the open.
Real Earnings was a quiet bright spot. Real hourly pay rose +0.3% in January, and real weekly pay rose +0.5%. In plain terms, pay gains beat price gains this month, which can help consumers keep their footing.
Earnings also hit like a breakfast buffet. Moderna posted $678M in Q4 revenue and narrowed its loss to $2.11 per share, while keeping a 2026 growth goal on the table. Advance Auto Parts showed improved margins and gave a wide 2026 profit range, and Wendy’s outlook put the spotlight on traffic and pricing power. This is educational only, not investment advice.
Pet Care
Pet care covers pet food, vet visits, lab tests, and animal health drugs. It matters because many households will cut streaming before they cut kibble. In rough markets, that can make the group feel steadier than many consumer names.
A quick yardstick is the ProShares Pet Care ETF (PAWZ). PAWZ closed at $54.98 on Feb 12, down $0.56 on the day. The big driver now is whether owners keep paying for premium, or trade down to cheaper food and fewer “extra” vet services.
Zoetis (ZTS):
Zoetis sells medicine and vaccines for animals, with exposure to pets and livestock. That mix can help when one side slows. In fourth-quarter 2025, revenue was $2.4 billion and adjusted earnings per share (EPS) (profit per share) was $1.48, with 2026 adjusted EPS guided to $7.00 to $7.10.
IDEXX Laboratories (IDXX):
IDEXX makes diagnostic gear and tests many vet clinics use, so results often track clinic traffic. Its edge is repeat demand from testing, since clinics reorder what they use every day. IDEXX posted fourth-quarter 2025 revenue of $1.091 billion and EPS of $3.08, and it guided 2026 revenue to $4.632 to $4.720 billion.
Nestlé (NSRGY):
Nestlé is a global food leader, and its Purina brands make it a major pet-food player. Scale is the edge, which can help with shelf space and sourcing when costs jump. Nestlé is scheduled to report full-year 2025 results on Feb 19, 2026, and pet-care volume trends will be a key tell.
InvestorsGrow Takeaway:
For pet care, the CPI matters because higher inflation pushes up food and vet costs, which tests demand. Two KPIs to watch are vet visit volume and price versus volume mix, since growth that is mostly price hikes can fade. A red flag is heavier promos or discounting that squeezes margins. If visits rise while price hikes cool, the setup is healthier.
Rivian Automotive (RIVN)
Rivian Automotive makes electric pickups and SUVs, plus delivery vans, like a small-batch truck maker trying to graduate into a full-size car brand.
After Thursday’s close, Rivian reported fourth-quarter results and 2026 targets for its R2 SUV. Shares rose to about $16.81 in premarket trading, up 20.1%, as of 6:49 AM ET, on hopes for second-quarter first customer deliveries.
Over the last year, the stock is basically flat (about -0.2%), but it is still down roughly 90% from its record close near $172 in November 2021. That tells you investors want proof, not promises.
Higher loan rates and shifting incentives have made electric vehicle (EV) (battery-powered car or truck) buyers pickier, and Tesla’s Model Y plus legacy brands keep pressure on price. Rivian is trying to step down from the pricey R1 lineup to the cheaper R2, while leaning on software work with Volkswagen.
The key figure is Rivian’s delivery outlook of 62,000 to 67,000 vehicles in 2026, up from 42,247 in 2025. With R1 and vans expected to stay mostly flat, the math points to over 22,000 R2 deliveries, above the roughly 13,400 analysts expected. Planned capital spending of $1.95 to $2.05 billion shows how costly that ramp can be.
Watch March 12 for more R2 details, then early second-quarter deliveries for delays or quality issues. If the ramp is smooth, the scale story holds; if not, cash burn will dominate the chat.
InvestorsGrow Takeaway:
Rivian’s pop is a vote on whether the R2 can unlock volume without crushing profits. Upside is demand at the roughly $45,000 price point and cost cuts that narrow losses. Risk is price wars or a messy ramp that burns cash. Keep your eye on R2 timing and delivery pace. Educational only, not investment advice.
