S&P 500 closes little changed after soft inflation report, index notches losing week: Live updates

The S&P 500 finished Friday's session near flat.

The broad-based index rose 0.05% to end the session at 6,836.17. The Dow Jones Industrial Average added 48.95 points, or 0.10%, to 49,500.93.

The Nasdaq Composite, however, fell 0.22% to settle at 22,546.67.

— Sean Conlon

Coinbase has room to run in the long-term, despite what its underwhelming fourth-quarter earnings results may suggest, according to Citizens.

The investment firm has an "outperform" rating on the stock, and it has a $400 price target on shares.

Coinbase reported earnings of $2.49 per share for the last quarter of 2025, — a figure far below its earnings of $4.68 per share from the same quarter a year earlier. Its total revenue also came in at $1.78 billion for the fourth quarter, falling below the Street's consensus estimate of $1.81 billion. Weighing on its results was an unrealized loss of more than $700 million in Coinbase's crypto investment portfolio, fueled by a digital asset market downturn in the last three months of the year. 

"Zooming out, there is not a lot to get excited about from the fourth-quarter results," Citizens analyst Devin Ryan said Thursday in a note to clients. "But our long-term thesis is little changed."

The analyst noted that a pullback in the crypto stock could be healthy "as it is washing out some of the excess speculation and leverage in the system" – two factors that have nothing to do with the blockchain technology that undergirds assets like bitcoin and other Web3 offerings. 

The crypto industry is in a transitory moment, Ryan added, "moving from a speculative phase toward a more serious phase where the technology is increasingly utilized at scale, including in payments, broader asset tokenization, and a range of applications beyond finance that are still in development."

The analyst pointed to the proliferation of tokenized real-world assets, stablecoins and blockchain-based artificial intelligence applications as potential catalysts for Coinbase.

— Liz Napolitano

Thursday's sell-off in stocks across various sectors due to fears of artificial intelligence disruption is a sign that the market is having trouble figuring out the technology's capabilities, according to JPMorgan's market intelligence desk.

"This is a market that is dominated by AI, both positive and negative, with seemingly every sector / sub-sector taking a turn at being declared obsolete," JPMorgan traders wrote in a Friday note. "The reality is, the market is struggling to understand the full scope of what AI can do ranging from impressive audio / video features to less impressive usage in consumer services, e.g. changing a flight."

"We think it makes sense to refocus on macro fundamentals where the US is throwing off mixed signals," they added.

— Sean Conlon

Take-Two Interactive logo displayed on a phone screen and GTA VI logo from the trailer displayed on a laptop screen are seen in this illustration photo taken in Krakow, Poland on December 6, 2023.

Nurphoto | Getty Images

Shares of several gaming stocks dropped this week on artificial intelligence disruption fears, adding to the carnage across several sectors of the market.

The recent rollout of Google's Project Genie, an interactive AI world generator capable of responding to real-time user interaction, has sparked concerns about the demand for traditional gaming businesses and digital experiences platforms. Big videogame stocks are already being hit, even though the tool remains in early stages and is being rolled out to Google AI Ultra subscribers in the U.S.

Shares of Unity Software plunged 25% this week, bringing its year to date loss to more than 57%. Take-Two Interactive Software, down just 1.9% this week, has lost 25% year to date.

Gaming giants AppLovin lost 8.3% and Roblox shed around 5% this week, respectively. The stocks are down 42% and 22% this year, respectively.

— Pia Singh

CART 5D chart

For the first quarter, Maplebear expects gross transaction value in the range of $10.13 billion to $10.28 billion, surpassing a $9.97 billion estimate from StreetAccount. The company also guided for EBITDA coming in between $280 million and $290 million, surpassing the $277 forecast.

Meanwhile, Maplebear posted a bottom-line beat for its last quarter, with revenue coming in at $992 million versus estimates of $974 million from LSEG. On the other hand, the company's earnings of 30 cents per share came in below the expected 52 cents.

— Lisa Kailai Han

On Friday, 24 stocks in the S&P 500 traded at new 52-week highs.

Of these names, 13 tickers reached new all-time highs. Stocks that hit this milestone included:

• McDonald's trading at all-time highs back to its IPO in 1965
• YUM! Brands trading at all-time highs back to its IPO in September 1997
• Williams Companies trading at all-time highs back to its IPO in 1957
• Lockheed Martin trading at all-time high levels back to their merger of Martin Marietta and Lockheed in 1995
• Applied Materials trading at all-time high levels back to its IPO in October 1972
• Ameren Corporation trading at all-time high levels back through our history to 1972
• American Electric Power trading at all-time highs back through our history to 1972
• CenterPoint Energy trading at all-time highs back to its IPO in January 1970
• Entergy trading at all-time high levels back through our history to 1972
• Evergy trading at all-time high levels back through Westar Energy history to when Kansas Gas & Energy was listed on the NYSE in 1955
• Alliant Energy trading at all-time high levels back through our history to 1978
• NextEra Energy trading at all-time high levels back through our history to February 1986
• NiSource trading at all-time highs back through our history to 1984

The four stocks trading at new 52-week lows on Friday were:

• Booking Holdings trading at lows not seen since October 2024
• Trade Desk trading at lows not seen since April 2020
• GoDaddy trading at lows not seen since November 2023
• Intuit trading at lows not seen since March 2023

— Lisa Kailai Han

U.S. Energy Secretary Chris Wright and Venezuela's interim President Delcy Rodriguez, not pictured, speak with the media after attending a meeting, marking the highest-level U.S. visit focused on energy policy to the OPEC nation in nearly three decades, as Washington conducts its first on-the-ground assessment of the oil industry it aims to help rebuild, in Caracas, Venezuela, Feb. 11, 2026.

Leonardo Fernandez Viloria | Reuters

Venezuela's oil sales will not be deposited in an account in Qatar anymore, Energy Secretary Chris Wright told NBC News in an interview this week.

"An account was set up in Qatar, controlled by the U.S. government the whole time, to land that money in and then send the money from there down to Venezuela," Wright told NBC News on Thursday.

"Now we have an account at the U.S. Treasury. The money won't go to Qatar anymore," the energy secretary said.

Wright said revenue from Venezuela oil sales now tops $1 billion. He said money was initially put in the Qatar account to prevent creditors from claiming the funds.

— Spencer Kimball

Pinterest shares plunged 18% on Friday, deepening the social media company's loss after its fourth-quarter earnings miss and disappointing guidance. The move brings the stock's loss this week to about 23% and year to date loss to more than 41.5%.

Pinterest CEO Bill Ready said the company "absorbed an exogenous shock this year related to tariffs" that impacted its advertising spend. This week's drop mark the second-straight quarter in which Pinterest has shed a fifth of its value on the back of weak results.

JPMorgan, Citi and Bank of America downgraded Pinterest shares after its latest quarterly performance.

For Bank of America analyst Justin Post, tariffs will be a much smaller problem for Pinterest to tackle compared to ramping competition from artificial intelligence leaders.

"Our thesis that improving engagement and the ramp of Performance+ would translate into better
performance has not played out," Post wrote in a Friday note to clients. "While tariffs are a bigger headwind for Pinterest vs peers, AI driven ROAS improvements at larger platforms appear to be impacting Pinterest's ability to capture incremental ad budgets. Tariff headwinds will lap in 3Q, but we expect AI driven competitors (Google, OpenAI soon) to be increasingly competitive."

Pinterest stock performance over the past year.

Packages on a conveyor belt at an Amazon fulfillment center on Cyber Monday in Robbinsville, New Jersey, US, on Monday, Dec. 1, 2025.

Michael Nagle | Bloomberg | Getty Images

Amazon remained in bear market territory Friday after moving more than 20% below its 52-week-high on Thursday.

Since the stock hit $258.60 in November, it had an initial drawdown below $220 during a rout in tech stocks in the same month, but then rebounded and held steady under its highs. But Amazon took a leg lower last week after an earnings miss, and then continued to fall further amid a broader rotation out of tech stocks. 

Amazon was 0.5% in midday trading Friday, and down more than 4% for the week.

AMZN since November 3, 2025 chart.

Analysts believe this week's AI-induced sell-off in freight stocks has left behind one strong buying opportunity: transportation company C.H. Robinson Worldwide.

Leading trucking and logistics stocks including C.H. Robinson, RXO, XPO and J.B. Hunt Transportation Services plunged Thursday on fears that a new tool from AI company Algorhythm Holdings could slash major freight inefficiencies, leading to less demand for the industry's services.

JPMorgan, Barclays and Stifel analysts wrote in note to clients this week that they're sticking by C.H. Robinson, however, particularly given the company's strength in AI. C.H. Robinson has unveiled more than two dozen AI agents to manage its full shipment lifecycle, which has led to task automation, workload reduction and productivity gains.

Barclays analyst Brandon R. Oglenski said he sees the weakness as a buying opportunity for C.H. Robinson, which he has an overweight rating on. Shares of C.H. Robinson are down about 13% week to date.

"Quite the contrary, we see C.H. Robinson as the AI disrupter within the US truck brokerage market and global air and ocean freight forwarding. We see the moves in asset-light transportation stocks as disproportionate to the risk," Oglenski wrote in a Thursday note to clients.

C.H. Robinson stock performance over the past year.

JPMorgan analyst Brian P. Ossenbeck similarly highlighted that "CHRW has a differentiated model and this did not change overnight."

"We believe Robinson's unrivaled data and deep customer connections are competitive advantages which are very difficult to replicate while the lean operating model allows the company to quickly adjust to and adopt new tools and technology," Ossenbeck wrote in a Friday note. He added that he does not expect the overhang to dissipate quickly, however. given the market's knee-jerk responses to AI threats.

— Pia Singh

Dollar Tree shares' surge of 73% in the past year may mean its valuation has lost touch with the company's fundamentals, BMO Capital Markets explained in a Friday note.

The bank downgraded its rating of the stock to underperform from market perform, with a price target of $95, indicating a 26% loss from Thursday's close. Through its surging stock, Dollar Tree now finds itself too highly valued and with lofty earnings expectations that BMO thinks it can't meet. 

"DLTR shares are trading at ~19x consensus EPS for 2026/F27 which calls for +16% YoY EPS growth, as outlined at the company's Oct 2025 Analyst day," wrote analyst Kelly Bania. "We believe this is a very generous valuation to apply to a retailer that: 1) lacks investment in e-commerce, digital and retail media; and 2) carries risk of missing its EBIT margin expansion targets."

Bania added that lack of a digital strategy could become visible in 2026 after price-driven boosts to revenues as the company managed tariff headwinds.

DLTR 1-year chart.

The three major averages began Friday's session little changed.

The S&P 500 traded around the flatline, along with the Nasdaq Composite. The Dow Jones Industrial Average was also flat.

— Sean Conlon

A commercial for Draft Kings during the Super Bowl LX broadcast on television screens at a bar in Los Angeles, California, US, on Sunday, Feb. 8, 2026.

Jill Connelly | Bloomberg | Getty Images

Here are some stocks making moves before the bell:

• DraftKings — Shares fell about 17% after the sports betting operator's 2026 revenue forecast disappointed. In the fourth quarter, DraftKings earned 25 cents per share on revenue of $1.99 billion. That was better than the LSEG estimate of 15 cents per share in earnings and $1.98 billion in revenue. However, the company expects revenue this year to be between $6.5 billion and $6.9 billion, far below the consensus estimate of $7.31 billion.
• Roku — Shares rose 15% after Rosenblatt hiked its price target for the TV streaming platform to $118 from $106, implying 42% upside from Thursday's close.
• Rivian Automotive — The electric truck manufacturer surged 20%. The company said it sees 2026 vehicle deliveries ranging from 62,000 to 67,000 units, which would be higher by 47% to 59% compared to 2025. Fourth-quarter adjusted losses came in at 54 cents per share, narrower than the LSEG consensus for a loss of 68 cents per share. Revenue of $1.29 billion topped the estimate of $1.26 billion.

Read here for the full list.

— Liz Napolitano

A grocery store in the Manhattan borough of New York on Dec. 13, 2025.

Charly Triballeau | Afp | Getty Images

Consumer prices rose less than expected in January on an annual basis, according to a Bureau of Labor Statistics report Friday.

The consumer price index, a broad measure of goods and services costs across the U.S. economy, rose 2.4% in January from a year ago. Economists surveyed by Dow Jones had been looking for a reading of 2.5%.

Excluding food and energy, however, the core reading was in line with estimates at a 2.5% increase.

— Christina Cheddar Berk

Fri, Feb 13 20268:01 AM EST

Deutsche Bank believes that AI-enabled search enhancements could strengthen the long-term outlook for Airbnb.

The bank upgraded the short-term vacation rental marketplace to a buy rating from hold. Analyst Lee Horowitz also hiked his price target to $154 from $128.

Shares of Airbnb have dipped 18% over the past 12 months and are down 15% on the year. Horowitz's updated forecast implies an additional 33% upside ahead.

ABNB, 1-year

CNBC Pro subscribers can read more here.

— Lisa Kailai Han

Fri, Feb 13 20267:26 AM EST

Customers shop at Kroger on January 22, 2026 in Little Rock, Arkansas.

Will Newton | Getty Images

Investors got some good news this week on the state of the labor market, and more may be on the way Friday on inflation.

The consumer price index, a broad measure of goods and services costs across the U.S. economy, is expected to show a 2.5% gain from a year ago, according to the Dow Jones consensus forecast for the January release.

If that ends up being accurate, it would bring the widely cited inflation gauge back to its May 2025 level — a month after President Donald Trump enacted his "liberation day" tariffs, which many economists thought would send prices spiraling higher.

The headline, or all-items, CPI was at 2.7% in December and has been on a downward trajectory since peaking just above 3% in September. Excluding food and energy, core CPI stood at 2.6% in December. Both gauges are expected to show 0.3% monthly increases in January. Read more.

— Jeff Cox

Fri, Feb 13 20265:41 AM EST

Dollar index, 1-year

Fri, Feb 13 20265:29 AM EST

French aerospace firm Safran topped the benchmark with a 7% gain following a positive quarterly earnings report.

— Hugh Leask

Thu, Feb 12 20267:30 PM EST

Magnificent 7 tech stocks on display at the Nasdaq.

Adam Jeffery | CNBC

Artificial intelligence is driving exponential capital expenditure growth, with just the top hyperscalers expecting to spend 70% more this year than they did last year.

Recent earnings reports from Amazon, Alphabet, Meta and Microsoft revealed planned capex of more than $600 billion combined this year. In 2025, these four companies invested just over $350 billion.

Paul Meeks, head of technology research at Freedom Capital Markets, said that while more bearish investors believe that spending will collapse after this year, he sees it plateauing or growing more slowly from here.

"These guys will not make an announcement for their '26 capital spending and then during the year, change their mind and pull it back," he told CNBC. "I've talked to the management teams of all the hyperscalers, and they see this as a real competitive advantage for them to be early with the heavy spending."

Investor Ken Mahoney noted that not all tech titans are putting their money where it matters the most. "We're just seeing that there's no guardrails. Feels like companies are just spending and spending and spending, and hope on the other side they come in first place," the CEO of Mahoney Asset Management said in an interview.

More in CNBC Pro here on how to play this spending boom.

— Lisa Kailai Han

Thu, Feb 12 20266:19 PM EST

Check out the companies making headlines in after-hours trading.

• Applied Materials — The California-based semiconductor equipment company jumped 11% on the back of blowout earnings results. Applied Materials reported adjusted earnings of $2.38 per share on revenue of $7.01 billion, while analysts polled by LSEG expected earnings of $2.20 per share on revenue of $6.87 billion.
• Coinbase — Shares of the crypto company rose nearly 2%. Coinbase said that its total trading volume in 2025 hit $5.2 trillion, up 156% year over year. The firm also reported that its subscription and services revenue rose to $2.8 billion in 2025, up from $2.3 billion in the year prior. That's despite the fact Coinbase fell short of the Street's expectations on revenue for the fourth quarter.
• Rivian Automotive — The electric truck manufacturer surged 14%. The company said it sees 2026 vehicle deliveries ranging from 62,000 to 67,000 units, which would be higher by 47% to 59% compared to 2025. Fourth-quarter adjusted losses came in at 54 cents per share, narrower than the LSEG consensus for a loss of 68 cents per share. Revenue of $1.29 billion topped the estimate of $1.26 billion.

For the full list, read here.

— Pia Singh

Thu, Feb 12 20266:03 PM EST