March S&P 500 E-Mini futures (ESH26) are up +0.33%, and March Nasdaq 100 E-Mini futures (NQH26) are up +0.23% this morning, pointing to a higher open on Wall Street as strong U.S. jobs data boosted optimism about the nation’s economic outlook.
Investors now await U.S. jobless claims data and a new wave of corporate earnings reports.
In yesterday’s trading session, Wall Street’s three main equity benchmarks closed mixed. Software stocks sank, with Atlassian (TEAM) sliding over -6% and Intuit (INTU) falling more than -5%. Also, real estate services stocks slumped amid concerns that the latest wave of AI applications and tools could disrupt the industry, with Cushman & Wakefield (CWK) tumbling over -13% and CBRE Group (CBRE) plunging more than -12% to lead losers in the S&P 500. In addition, Mattel (MAT) plummeted over -24% after the toymaker posted downbeat results for the crucial holiday quarter and provided disappointing FY26 adjusted EPS guidance. On the bullish side, chip stocks climbed, led by a more than +9% jump in Micron Technology (MU) after CFO Mark Murphy said the company had begun volume production and shipments of its next-generation high-bandwidth memory chips.
The U.S. Labor Department’s report on Wednesday showed that nonfarm payrolls rose by 130K in January, much stronger than expectations of 66K. Also, the U.S. unemployment rate unexpectedly fell to 4.3% in January, stronger than expectations of no change at 4.4%. In addition, U.S. January average hourly earnings rose +0.4% m/m and +3.7% y/y, stronger than expectations of +0.3% m/m and +3.6% y/y.
President Trump lauded the figures in a social media post on Wednesday and said the U.S. should have the lowest interest rates in the world. “GREAT JOBS NUMBERS, FAR GREATER THAN EXPECTED!” Mr. Trump wrote.
“[Wednesday’s] employment report was a 10 out of 10 with positive surprises across the board,” said Peter Graf at Amova Asset Management Americas. “It should quell recent concerns about growth, but puts incoming Fed Chair Warsh in the hot seat — it will be even harder to persuade the FOMC members to go along with the president’s mandate to cut rates.”
Kansas City Fed President Jeff Schmid said on Wednesday that the central bank should keep rates at a “somewhat restrictive” level, as he voiced continued concerns about inflation remaining too high. “In my view, further rate cuts risk allowing high inflation to persist even longer,” Schmid said.
U.S. rate futures have priced in a 94.1% chance of no rate change and a 5.9% chance of a 25 basis point rate cut at the March monetary policy meeting.
Meanwhile, President Trump’s tariff policies faced their strongest political setback yet as the Republican-led U.S. House passed legislation aimed at ending the president’s levies on Canadian imports.
Today, investors will focus on U.S. Initial Jobless Claims data, set to be released in a couple of hours. Economists expect this figure to be 222K, compared to last week’s number of 231K.
The National Association of Realtors’ existing home sales data will also be released today. Economists foresee this figure coming in at 4.16 million in January, compared to 4.35 million in December.
On the earnings front, notable companies such as Applied Materials (AMAT), Arista Networks (ANET), Airbnb (ABNB), and Coinbase Global (COIN) are scheduled to report their quarterly figures today. According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +8.4% increase in quarterly earnings for Q4 compared to the previous year.
In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.168%, down -0.10%.
The Euro Stoxx 50 Index is up +0.61% this morning, hitting a new record high as a slew of strong corporate earnings reports boosted sentiment. Luxury stocks led the gains on Thursday, with Hermes (RMS.FP) rising over +1% after it reported another quarter of steady revenue growth. Also, financial services stocks climbed, led by a more than +28% jump in Schroders Plc (SDR.LN) after U.S. asset manager Nuveen agreed to acquire the U.K. company for 9.9 billion pounds ($13.5 billion). Meanwhile, data from the Office for National Statistics released on Thursday showed that the U.K. economy expanded slightly less than expected in the fourth quarter, indicating that growth still lacks momentum. The economy grew 1.3% in 2025 as a whole, marking another year of modest growth as consumers remained cautious, unemployment rose, and borrowing costs remained elevated. In other corporate news, Siemens AG (SIE.D.DX) climbed over +6% after the engineering group posted stronger-than-expected FQ1 results and boosted its full-year profit guidance. Also, EssilorLuxottica (EL.FP) gained more than +2% after the eyewear giant reported an 18% jump in Q4 sales and said strong demand for smart glasses would fuel revenue growth in the years ahead.
U.K. GDP (preliminary) data was released today.
U.K. GDP has been reported at +0.1% q/q and +1.0% y/y in the fourth quarter, weaker than expectations of +0.2% q/q and +1.2% y/y.
U.K. December GDP rose +0.1% m/m and +0.7% y/y, compared to expectations of +0.1% m/m and +1.1% y/y.
Asian stock markets today settled mixed. China’s Shanghai Composite Index (SHCOMP) closed up +0.05%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.02%.
China’s Shanghai Composite Index closed slightly higher today, buoyed by optimism surrounding AI. AI-related stocks rallied on Thursday after Chinese Premier Li Qiang said on Wednesday that the country should better align power and computing resources to advance AI. Sentiment toward AI stocks was also supported by news that AI start-up Zhipu AI unveiled its latest AI model, along with reports that ByteDance is developing its own AI chip. Automobile stocks also gained ground after China’s market regulator on Thursday issued guidelines for the auto industry designed to regulate pricing practices. Meanwhile, Chinese stocks have secured their largest wave of net inclusions in MSCI’s key benchmarks in nearly three years. Most of the stocks poised for inclusion in MSCI’s gauges climbed on Thursday amid expectations of fresh capital inflows. In corporate news, NetEase slid over -4% in Hong Kong after the company reported weaker-than-expected Q4 results. At the same time, China Vanke rose nearly +4% in Hong Kong following a report that the Shenzhen government drafted an 80 billion yuan rescue package for the developer.
Japan’s Nikkei 225 Stock Index gave up earlier gains and closed slightly lower today due to profit-taking. After reopening following a holiday, the benchmark index initially surged past the 58,000 mark for the first time before losing momentum and closing just below the flatline. Software stocks slumped on Thursday, tracking overnight losses in their U.S. peers. Electronics stocks also retreated. At the same time, utilities and mining stocks outperformed. Data released on Thursday showed that Japan’s annual wholesale inflation eased for a second straight month in January, but yen-based import costs increased, underscoring the impact of a weak currency on prices and monetary policy. Meanwhile, the yen edged higher against the dollar on Thursday after top currency diplomat Atsushi Mimura said Japan has not relaxed its vigilance over exchange-rate movements. Jiji Press reported on Thursday that Japan asked the U.S. in January to carry out exchange-rate checks on the dollar-yen pair amid a weakening in the Japanese currency. Elsewhere, Japan’s super-long bonds rallied as investors took comfort in Prime Minister Sanae Takaichi’s pledge to pursue “responsible” stimulus after her decisive election victory. In corporate news, Shiseido jumped over +15% after the cosmetics maker projected its first profit in three years. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -4.67% to 34.10.
The Japanese January PPI rose +0.2% m/m and +2.3% y/y, in line with expectations.
Pre-Market U.S. Stock Movers
Chip stocks are moving higher in pre-market trading, with Micron Technology (MU) rising over +3% and Lam Research (LRCX) gaining more than +1%.
Fastly (FSLY) jumped more than +44% in pre-market trading after the IT infrastructure company posted upbeat Q4 results and provided above-consensus FY26 guidance.
Equinix (EQIX) climbed over +8% in pre-market trading after the data-center real estate investment trust issued strong FY26 guidance.
Rollins (ROL) plunged more than -12% in pre-market trading after the pest control company reported weaker-than-expected Q4 results.
Cisco Systems (CSCO) slumped over -7% in pre-market trading after the networking company reported weaker-than-expected FQ2 adjusted gross margin and issued tepid FQ3 adjusted gross margin guidance, spurring concerns that rising memory-chip prices are weighing on the company.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Thursday - February 12th
Applied Materials (AMAT), Arista Networks (ANET), Southern Copper (SCCO), Vertex Pharmaceuticals (VRTX), Agnico Eagle Mines (AEM), Howmet Aerospace (HWM), Airbnb (ABNB), American Electric Power Company (AEP), Zoetis (ZTS), Public Storage (PSA), CBRE Group (CBRE), Entergy (ETR), Exelon (EXC), Alnylam Pharmaceuticals (ALNY), Coinbase Global (COIN), Ingersoll Rand (IR), PG&E Corporation (PCG), Iron Mountain (IRM), Expedia Group (EXPE), DexCom (DXCM), Eversource Energy (ES), US Foods Holding (USFD), West Pharmaceutical Services (WST), Rivian Automotive (RIVN), Twilio (TWLO), Toast (TOST), Lincoln Electric Holdings (LECO), Hyatt Hotels (H), Kimco Realty (KIM), TransUnion (TRU), Zebra Technologies (ZBRA), Pinterest (PINS), Roku (ROKU), DraftKings (DKNG), Wynn Resorts (WYNN), Ryan Specialty Holdings (RYAN), Baxter International (BAX), Dutch Bros (BROS), Federal Realty Investment Trust (FRT), Kinsale Capital Group (KNSL), CareTrust REIT (CTRE), Maplebear (CART), Mohawk Industries (MHK), Affiliated Managers Group (AMG), Bio-Rad Laboratories (BIO.B), Bio-Rad Laboratories (BIO), Fortune Brands Innovations (FBIN), Procore Technologies (PCOR), Lincoln National (LNC), Birkenstock Holding (BIRK), Morningstar (MORN), Bruker (BRKR), Healthcare Realty Trust (HR), Vontier (VNT), JFrog (FROG), Granite Construction (GVA), Belden (BDC), Warrior Met Coal (HCC), IPG Photonics (IPGP), Core Natural Resources (CNR), Bright Horizons Family Solutions (BFAM), Crocs (CROX), BGC Group (BGC), PBF Energy (PBF), Avient (AVNT), Sphere Entertainment Co. (SPHR), Scorpio Tankers (STNG), DNOW Inc. (DNOW), Materion (MTRN), LXP Industrial Trust (LXP), Euronet Worldwide (EEFT), PHINIA (PHIN), Callaway Golf Company (CALY), Diebold Nixdorf (DBD), SPS Commerce (SPSC), Trinity Industries (TRN), Flowers Foods (FLO), TriNet Group (TNET), 10x Genomics (TXG), Ultragenyx Pharmaceutical (RARE), The GEO Group (GEO), Sylvamo (SLVM), Organon & Co. (OGN), Iridium Communications (IRDM), ARMOUR Residential REIT (ARR), Sixth Street Specialty Lending (TSLX), Artivion (AORT), Utz Brands (UTZ), Cohu, Inc. (COHU), Agios Pharmaceuticals (AGIO), Tripadvisor (TRIP), Trupanion (TRUP), Yelp Inc. (YELP), PDF Solutions (PDFS).
On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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