Soft CPI Sparks Fed Cut Bets; Tech and NetApp Lead, 2026-02-13

The softer-than-expected CPI reading for January 2026—annual inflation at 2.4% and a 0.2% monthly rise—spurred bets for multiple Federal Reserve rate cuts this year, lifting Treasuries and driving a broad equity rebound. The Russell 2000 surged as investors favor growth stocks in a lower-rate environment. Supporting context: The U.S. Bureau of Labor Statistics data beat forecasts, cooling inflation concerns and reversing Tuesday’s sell-off. The Nasdaq Composite gained 1.5% and the S&P 500 erased 2026-year-to-date losses as the 10-year Treasury yield retreated from recent highs. Among impacted stocks: NetApp (NTAP) rose on soft inflation and geopolitical easing, trading at $102.39 vs. a 52-week high of $126.36, a 19% discount. The stock is down 3.8% in 2026, reflecting continued volatility despite positive trade developments.