US equity markets are bracing for heightened volatility today, February 13, 2026, as investors await the critical January Consumer Price Index (CPI) release—a key test for the Federal Reserve’s “soft landing” narrative. Recent sessions have seen dramatic swings: last week’s historic rally drove the Dow Jones Industrial Average (DJIA) to an all-time high, but indices reversed course this week, with the Dow plunging nearly 700 points at session lows. Global markets are also under pressure, with Singapore’s Straits Times Index (STI) dropping sharply below the 5,000 level. Commodity markets remain sensitive to inflation expectations and central bank moves, while the US economy continues to outperform growth forecasts. Here’s your comprehensive briefing on the latest market action, data, and what investors are watching today.
Key Takeaways:
- US indices hit record highs last week but reversed sharply this week, with the Dow down nearly 700 points at lows (source: Investopedia).
- Investors are focused on the January CPI release, seen as pivotal for Fed policy and inflation expectations (source: FinancialContent).
- Singapore’s STI broke below 5,000, signaling broader Asia-Pacific equity weakness (source: Bloomberg).
- US GDP growth in 2026 is projected to outpace economist forecasts, with inflation expected to moderate (source: Goldman Sachs).
- Commodity prices remain volatile ahead of inflation data and central bank commentary.
US Market Overview: Indices and Major Movers
Last Friday, February 6, 2026, the Dow Jones Industrial Average (DJIA) surged 962.86 points (1.97%) to a new all-time high of 49,871.58, leading a historic rally across US equities (CNBC). The S&P 500 and Nasdaq also closed at record levels, buoyed by a strong jobs report and renewed risk appetite (Economic Times).
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This week, however, volatility has returned. On February 9, the Dow fell nearly 700 points (down 1.4%) at session lows, while the S&P 500 lost 1.5% and the Nasdaq dropped 1.9%, as investors rotated out of high-flying technology and cyclical stocks (Investopedia).
| Index | Last Week Close | Recent Low | % Change |
|---|---|---|---|
| Dow Jones (DJIA) | 49,871.58 | ~49,172 | -1.4% |
| S&P 500 | Record High | -1.5% (from recent peak) | -1.5% |
| Nasdaq | Record High | -1.9% (from recent peak) | -1.9% |
Major stocks driving volatility include large-cap tech names and financials, though specific stocks weren’t detailed in the latest session coverage.
Trading volumes have picked up as investors position ahead of today’s CPI release, with overnight trading platforms like Interactive Brokers and Moomoo seeing heightened activity among retail and institutional traders (Interactive Brokers).
Macroeconomic Data and Federal Reserve Developments
Today’s focus is squarely on the January CPI report, which economists and investors see as a pivotal “litmus test” for the Federal Reserve’s inflation management and soft landing ambitions (FinancialContent). Following significant volatility in late 2025, the Fed’s next moves will depend heavily on whether inflation continues to moderate.
Key macroeconomic themes:
- Interest Rates: Short-term rates remain near cycle highs, with the Congressional Budget Office expecting little change in the near term (CBO).
- GDP Growth: Goldman Sachs projects US GDP will outperform consensus estimates in 2026, with below-consensus inflation (Goldman Sachs).
- Labor Market: Recent jobs data has been robust, supporting consumer spending and equity valuations.
Investors are also monitoring central bank policy in other regions, as rate decisions and inflation trends in Europe and Asia may impact global liquidity and cross-border capital flows.
Commodities and Global Markets Trends
Commodity prices are trading with a cautious tone ahead of US CPI data and central bank commentary. While specific price levels were not cited in the latest research, oil and gold typically react sharply to inflation surprises and shifts in rate expectations.
In global equity markets, Singapore’s STI broke below 5,000 in a sharp selloff, mirroring weakness across Asia-Pacific benchmarks (Bloomberg). This adds to concerns over global risk appetite, especially as investors digest both domestic US data and overseas macro headwinds.
| Market | Recent Performance | Highlights |
|---|---|---|
| Singapore STI | Below 5,000 | Sharp selloff, risk-off sentiment |
| Asia-Pacific | Broad weakness | Followed US volatility, inflation worries |
| Oil, Gold | Volatile | Awaiting US inflation data |
Sector Spotlight & Notable Movers
While detailed sector and stock-specific news was not highlighted in the latest session sources, recent market action suggests:
- Technology and Growth Stocks: After fueling the rally to record highs, these sectors saw sharp pullbacks amid profit-taking and rate sensitivity.
- Financials and Cyclicals: Also under pressure as the market reprices Fed policy odds and inflation risk.
- International Equities: Singapore and other Asia-Pacific stocks are in focus after outsized declines, with local investors also increasingly trading US names via platforms such as Moomoo (Moomoo).
For a deeper dive into global market drivers and US sector trends, explore the latest Reuters global market headlines.
Market Outlook: What to Watch
All eyes are on the January CPI release today, which will set the tone for near-term Fed policy and risk sentiment. Investors should also monitor:
- Upcoming Fed statements and FOMC minutes for signals on rate trajectory.
- Commodity price reactions—oil and gold—in response to inflation surprises.
- US GDP data and labor market trends, as consensus expectations remain cautious despite recent outperformance (Goldman Sachs).
- Global markets, especially Asia-Pacific, for spillover effects from US volatility.
Risks: Persistent inflation, a policy misstep by the Fed, and external shocks could trigger further volatility. Affordability and consumer sentiment also remain top concerns looking ahead (Stanford).
Common Pitfalls or Pro Tips
- Don’t overreact to single data points: Market swings can be exaggerated on key data days like CPI releases.
- Monitor cross-market correlations: US equity volatility often transmits to global indexes and commodities.
- Stay updated with reliable sources and platforms to react quickly to breaking news and economic releases.
Stay alert for real-time updates as the CPI data drops and market conditions evolve. For more on trading US stocks overseas and managing risk, see How to Securely Store and Share Financial Data in the Cloud.