Daily Market Report – February 12, 2026

Thursday, February 12, 2026, 12:45 PM ET

In the USA, the major indices fell significantly into the red: S&P 500 down approximately -1%, Nasdaq -1.5%. The US labor market report from yesterday dampens hopes for imminent interest rate cuts.

AppLovin NASDAQ:APP plummeted by more than 18% after investors deemed the figures, despite strong metrics, not convincing enough for the high valuation. The company reported record revenues of $1.37 billion for the fourth quarter and an adjusted EBITDA of $848 million; the adjusted earnings per share were $1.73. However, concerns were raised that growth in the core business and the outlook did not meet expectations. Skepticism also prevailed at Cisco NASDAQ:CSCO: although the company delivered solid results, indications of margin pressures – including higher storage/component costs – and a cautious tone regarding profitability weighed on the stock. Demand for data centers and AI infrastructure remains high, but investors are increasingly focusing on the quality of margins in hardware stocks.

Shopify NYSE:SHOP came under pressure after quarterly results, as the outlook did not suffice to justify high expectations. Palantir NASDAQ:PLTR also fell significantly – a sign of how quickly sentiment can shift for extremely highly valued software stocks. In the USA, the "AI disruption" debate is increasingly affecting service-intensive models: Accenture NYSE:ACN and large brokerage firms like Morgan Stanley NYSE:MS also saw significant declines. Commonwealth Bank of Australia ASX:CBA benefited from record values in the half-year (cash profit of A$5.45 billion) and an increased fully franked interim dividend amount of A$2.35 per share; several reports also highlighted market share gains in the lending and deposit business. The stock rose by double digits.

The US dollar weakened today against most major currencies. Notably, the yen gained about 1% as discussions of currency interventions by the BoJ resurfaced. US Treasury yields fell: particularly, the 30-year yield recorded the strongest daily decline since October – the yield curve flattened; the 10-year yield dropped to about 4.12% (the lowest level of the year) as investors fled to perceived safe assets. Brent crude fell temporarily by about 1.8% to around $68.14/barrel, while WTI dropped by about 1.9% to $63.39. The drivers were a downward revision of the demand forecast by the International Energy Agency and a significant build-up of US crude oil inventories (EIA: +8.5 million barrels), while at the same time, immediate escalation fears in the Iran conflict eased somewhat. Precious metals experienced a strong pullback: gold slipped below $5,000 and fell to about $4,941/ounce (-2.7%); silver plummeted by around 10%.