U.S. stock futures remain near flat as the Dow snapped a three-day winning streak, with focus shifting back to the Federal Reserve's rate path after a stronger-than-expected January jobs report.

Dow Jones (YM=F) and S&P 500 (ES=F) futures hovered near the flatline, with Nasdaq 100 (NQ=F) futures down 0.1%. After-hours, Cisco Systems (CSCO) fell about 7% after missing profit guidance, and McDonald's (MCD) declined slightly despite topping earnings estimates.

The jobs report showed nonfarm payrolls rising 130,000 in January, exceeding forecasts, with 2025 year-end revisions indicating slower prior-year gains. This resilience in hiring, alongside sticky inflation, likely reduces the odds of immediate rate cuts, keeping markets cautious.

The market now eyes Friday's Consumer Price Index. A softer reading would enhance hopes inflation is easing without weighing on growth. Coinbase (COIN), Applied Materials (AMAT), and Rivian (RIVN) are scheduled to report earnings before the weekend.

LA28 Olympic Committee confirms Casey Wasserman will remain chairman after an internal review of his ties to Jeffrey Epstein and Ghislaine Maxwell found no undisclosed misconduct. The board stated, “Mr. Wasserman’s relationship with Epstein and Maxwell did not go beyond what has already been publicly documented.”

Wasserman, 51, will continue leading the organizing committee despite calls from some local politicians and departures from his talent agency by figures including Chappell Roan and Abby Wambach. He fully cooperated with the review and issued an apology for past correspondence with Maxwell.

The review followed the release of DOJ documents linking Wasserman to Maxwell in 2003. The committee cited his decade-long leadership as factors in recommending his continued role. Wasserman is scheduled to host an NBA All-Star pre-game party and speak at the NBA Tech Summit on Feb. 27, 2026, and will be honored Feb. 26 at the Wallis Annenberg Center.

Hong Kong investors are flocking to pre-market trades on stocks likely to be added to the Southbound Stock Connect, expected to be reviewed March 9–10, 2026. The strategy involves buying inclusion candidates and selling deletions, with historical gains averaging 27% around the announcement of Hang Seng Composite Index (HSI) reshuffles.

Eligibility is based on HSI constituents and other authorities’ reviews, with the March 9 effective date shortening the typical trading window due to the upcoming Lunar New Year. Morgan Stanley recommended buying 44 potential additions and selling 25 deletions, entering Feb 9 and exiting March 9; Mizuho has a similar 48-addition/28-deletion list.

Chinese investors added a record HK$1.4 trillion ($179 billion) via the Stock Connect last year, and southbound flows now account for 25%–30% of daily trading volume. Despite earlier entry and heightened timing risk, the strategy remains attractive as inclusion can be a major catalyst for share price movement.

As of 06:30 PM Wednesday, February 11, 2026 (UTC), Nikkei 225 Yen futures trade at 500. Estimated volume: 84; Tuesday's volume: 26,680. Open interest stands at 89,227, down 5,185 from the prior session.

AbbVie (ABBV) filed a lawsuit on February 11, 2026, against the Centers for Medicare & Medicaid Services (CMS), challenging proposed price controls on its blockbuster drug Botox. The agency had notified providers it would implement a 25% price ceiling on the injectable treatment, effective January 1, 2026. AbbVie argues the controls would reduce access and harm revenue, potentially affecting its financial performance and stock price. The company seeks an injunction to block the implementation pending litigation.

<Para>U.S. initial jobless claims and January home sales data are key focus for Friday, February 12, 2026.</Para>

<Para>Cisco Systems (CSCO-US) reported Q2 revenue up about 10% YOY to $140B and EPS to $0.80 vs. guidance, but third-quarter earnings guidance met expectations, leading to a 7% post-market decline. Apple (AAPL-US) could benefit from memory price increases despite a 15% rise in component costs, with Bernstein raising its price target to $340 from $325. Micron (MU-US) gained nearly 10% as HBM4 production entered high-volume and began shipping ahead of schedule. Analysts note overblown panic on software shares amid AI disruption, with AI more likely to enhance existing offerings. U.S. employment data on January nonfarm jobs outperformed expectations, driving bond yields higher and shifting expectations for Fed rate cuts this year.</Para>

Apple's Siri virtual assistant upgrade is facing setbacks in testing, with multiple anticipated features likely delayed. Originally scheduled for release in iOS 26.4 in March, the company is now considering a staggered rollout, potentially pushing some functions to iOS 26.5 in May or iOS 27 in September.

Internal testing uncovered issues, including Siri's occasional inability to process queries correctly and slower response times. The latest delay follows an initial pushback from the 2026 timeline, with the March 2026 window previously tentatively maintained.

The uncertainty comes as Apple's shares pared gains on Wednesday, closing at $275.50, up 0.7% after an earlier 2.4% rally.

Cisco Systems (CSCO-US) reported fiscal Q2 results on February 11, 2026, topping analyst estimates but guided flat for 2026, leading to a 7% decline in after-hours trading. Revenue rose 10% year-over-year to $153.5B; adjusted EPS reached $1.04/share, up from $0.61/share in the same period. The company forecast adjusted EPS of $1.02–$1.04 and revenue of $154B–$156B for fiscal Q3, in line with Street estimates.

Q2 hyperscaler AI infrastructure orders totaled $21B, core networking revenue grew 21% to $83B, and the firm inked a partnership with AMD to supply AI infrastructure in Saudi Arabia, co-located with an NVIDIA GPU-integrated switch.

CEO Chuck Robbins noted no material impact from主权 clients in 2026, pricing adjustments were made amid strong NVIDIA GPU demand, and growth from neoclouds is expected to materialize in fiscal 2027. For full-year 2026, the company expects adjusted EPS of $4.13–$4.17 and revenue of $612B–$617B, reflecting roughly 8.5% growth versus consensus of $4.12 EPS and $607.4B revenue.

Nabors Industries Ltd. (NBR) reported fourth-quarter earnings of $10.3 million, or 17 cents per share, with revenue of $805.1 million. Adjusted revenue was $797.5 million, exceeding Zacks analysts’ $796.6 million forecast. Year-over-year results: net income of $286.6 million, or $17.39 per share, and revenue of $3.18 billion.

MSA Safety Inc. (MSA) reported fourth-quarter earnings of $86.9 million, or $2.38 per share on a non-GAAP basis, exceeding the average analyst estimate of $2.26 per share. Revenue for the quarter totaled $510.9 million, slightly above the $509.4 million forecast by Zacks Investment Research. Year-over-year results showed net income of $278.9 million, or $7.09 per share, on revenue of $1.87 billion.

Manulife Financial Corp. (MFC) reported net income of $1.08 billion in Q4, or 60 cents per share, with adjusted net income of 80 cents per share. Revenue for the quarter totaled $11.17 billion. For the full year 2025, the company posted profit of $3.99 billion, or $2.20 per share, on revenue of $43.63 billion. Results released February 11, 2026.

The U.S. Department of Transportation finalized a rule closing a fatal CDL loophole by eliminating Commercial Driver’s Licenses issued to non-domiciled applicants using Employment Authorization Documents (EADs). The change limits eligible non-domiciled licenses to H-2A, H-2B, and E-2 visa holders who undergo interagency vetting, requires unexpired passports and I-94, and mandates SAVE verification.

This reform, effective 30 days after publication (January 29, 2026), removes tens of thousands of at-risk drivers from the market, creating immediate capacity constraints for midsize and smaller fleets. Larger carriers and public companies must prepare for higher driver compensation, which will likely translate to upward pressure on shipping rates, with tighter markets in California, New York, and Texas expected in the short term.

Truckers with H-2A, H-2B, or E-2 status and valid documentation remain eligible; others must seek legal counsel. Shippers should audit carrier credentials and consider rate premiums reflecting safer, better-vetted driver pools. Congress should act to codify the rule under the Non-Domiciled CDL Integrity Act to ensure stability and prevent regulatory rollbacks.

Modal Labs (MODO) is in early discussions to raise a new round at a $2.5B valuation, according to four sources, more than doubling its previous $1.1B mark. General Catalyst is in talks to lead the round; the company’s ARR is about $50M. The startup, focused on optimizing AI inference to reduce compute costs and response latency, is one of several inference platforms seeing valuations more than double recently, including Baseten’s $5B and Fireworks AI’s $4B. Terms are still under negotiation.

The January 2026 nonfarm payrolls report showed 130,000 new jobs and a 4.3% unemployment rate, both exceeding expectations. Annual revisions大幅 reduced prior gains by 89.8K, signaling caution about the underlying trend.

Key highlights: Jobs increased 130K, well above the 5.5K median forecast; the unemployment rate fell to 4.3% from 4.4% as household survey employment rose 52.8K. Average hourly earnings rose 0.4% monthly, annualized to 3.7%, and average weekly hours reached 34.3.

Annual revisions shaved 89.8K from the 2024:04–2025:03 period; November and December gains were revised down by 1.5K and 2K, respectively. Net job loss in the last six months of 2025 was about 1K.

Job gains remained concentrated in healthcare and social services (82K combined) and construction (33K). The FedWatch model now prices about an 8% chance of a March rate cut, with the next potential easing possibly in June.

Analysts note weather-driven construction gains, stronger healthcare and retail activity, and other temporary factors. Excluding these, the private sector labor market may add roughly 50K per month.

On February 11, 2026, India’s State Bank of India (SBI) surpassed Tata Consultancy Services (TCS) in market value, moving to the fourth position, following a record third-quarter profit. SBI reported net profit of ₹13,740 crore (about $1.75 billion) in Q3FY26, up 21.3% year-on-year, driven by higher interest income and cost optimization. The stock closed at ₹1,695.35, up 2.4%, on the day of the report, reflecting strong investor confidence. This marks SBI’s first time surpassing TCS in market cap since the two majors entered the top four in 2019.

South Korean stocks are expected to lose momentum on Thursday, February 13, 2026, as mixed earnings reports and a flight to safety offset domestic buying. The Hang Seng Hang Seng -0.15% (-0.15 pts) closed at 21,540.5 on Friday, February 12, 2026, with volume down 22%. Key sector performers included auto and semiconductors, down 1.2% and 1.5% respectively, while the KB Star Index rose 0.3%. The Bank of Korea's policy stance remains unchanged, signaling continued accommodative measures. Analysts warn that a broader regional risk-off sentiment could extend pressure into next week.

MSA Safety (NYSE:MSA) reported Q4 CY2025 sales of $510.9 million, up 2.2% year-on-year, and non-GAAP earnings of $2.38 per share, 5.3% above analyst estimates. The stock closed flat at $196.72.

Supporting context: The company posted revenue growth of 6.8% CAGR over the past five years, versus 2.4% in the last two years, signaling a recent deceleration. EPS growth averaged 12% CAGR over the same period, but two-year annual EPS growth of 6.2% lagged the longer-term trend. Operating margin for the quarter was 22.3%, down 2.3 percentage points from the prior-year period as expenses expanded faster than sales.

Looking ahead, sell-side analysts project revenue to grow 5.5% over the next 12 months and full-year EPS of $7.93, implying a potential acceleration in earnings quality if growth momentum strengthens.

Motorola Solutions (MSI) on February 11, 2026, reported annual sales and adjusted per-share profit above Wall Street estimates, citing strong public safety technology demand and sustained government spending. The company’s shares rose more than 3% in extended trading.

MSI forecasts 2026 sales of about $12.7B, versus $12.61B average estimate, and adjusted per-share profit between $16.70 and $16.85, above the $16.32 estimate. Fourth-quarter sales of $3.38B and adjusted per-share profit of $4.59 both beat estimates. The public safety and video security segments, supported by an integrated hardware-software platform, are key drivers of recurring revenue growth.

Franklin BSP Realty Trust (FBRT) released Q4 results showing earnings of $17.7 million and 13 cents per share, or 12 cents per share on a non-GAAP basis. Revenue for the quarter totaled $76.1 million. For the year, the REIT reported net profit of $82.3 million, or 64 cents per share, with revenue reaching $270.1 million.

First American Financial Corp. (FAF) released Q4 results, reporting net income of $211.9 million, or $2.05 per share, and $1.99 per share on a non-GIADS basis. Revenue totaled $2.05 billion, both exceeding analyst expectations of $1.49 EPS and $1.86 billion, respectively. For the full year, the company posted $621.8 million in profit, or $6 per share, and revenue of $7.45 billion.