Traders at work at the New York Stock Exchange on February 10, 2026.
new york stock exchange
What can’t artificial intelligence claim to do today? Technology platform Altruist on Tuesday unveiled a tool that helps users perform tax planning (an act more complex than quantum physics, as we all know) within “minutes.”
Financial stocks were spooked by the claims, as investors worried that AI tools could displace, or at least devalue, existing advisory firms and bank names. LPL Financial lost 8.3%; charles schwab down 7.4%, morgan stanley It fell 2.4%.
Investor sentiment worsened due to weak US economic data. Seasonally adjusted retail sales were flat in December from the previous month, falling short of the 0.4% increase expected by a survey of economists at Dow Jones. These numbers may have disappointed not only Wall Street but also those who expected more from Christmas.
The weak retail data also casts a shadow over January non-farm payrolls, which will be released in the US on Wednesday morning. After all, it’s hard to shop with an unstable job.
The weight of the above trends was felt, and the major benchmarks in the US almost all fell. of S&P500 lost 0.33%; Nasdaq Composite It retreated by 0.59%. of Dow Jones Industrial Average, However, it recorded a 0.1% increase and broke the closing price record. Anthony Saglimbene, chief market strategist at Ameriprise Financial, told CNBC that the market is showing “rotation into other areas that may be more insulated from AI trading.”
In Europe, siemens energy reported a 12.8% year-over-year increase in its first quarter fiscal year on Wednesday, with net profit increasing significantly and exceeding expectations compiled by LSEG. CEO Christian Bruch appeared on CNBC’s “Squawk Box Europe” to discuss these numbers in more detail.
Things aren’t so rosy heinekenthe Dutch beer company announced it would cut up to 6,000 jobs following poor beer sales, so watch ‘Squawk Box Europe’ where CEO Dolph van den Brink gave his last media interview before stepping down.
Meanwhile, Ukrainian President Volodymyr Zelensky plans to announce election plans and a peace referendum within the month, the Financial Times reported. This would be a fundamental shift in the goals of a country besieged during the Russian invasion.
—CNBC’s Leonie Kidd and Michelle Fox contributed to this report.
What you need to know today
Alphabet is planning another bond sale, with the company close to finalizing a global bond offering worth more than $30 billion, according to two people familiar with the deal. This comes after it raised $20 billion on Monday.
xAI has lost its second co-founder in the past two days, with researcher Jimmy Barr announcing his departure from the company founded by Elon Musk on Tuesday. Ba’s departure comes just one day after fellow co-founder Tony Wu announced his departure from xAI.
China’s consumer inflation rate rose less than expected. The consumer price index rose 0.2% in January from a year earlier, lower than the 0.4% rise expected in a Reuters poll. However, producer prices fell by 1.4% from a year earlier, exceeding the expected decline of 1.5%.
The Dow Jones Industrial Average closed to a new record, but other major U.S. indexes fell on Tuesday after a disappointing retail sales report and pressure on financial stocks. Asia-Pacific markets rose on Wednesday as investors ignored concerns about AI and China’s weak CPI.
(PRO) Buying gold on the spur of the moment, wells fargo added in a note to clients on Monday that it expects precious metals to stabilize. This is where banks see gold headed by the end of 2026.
And finally…
The inside story of China trying to feed 1.4 billion people without American crops
In recent years, it has become easier to buy food directly from farms in China. Whether it’s a box of apples or a vacuum-sealed bag of corn on the cob, order online through popular e-commerce apps and it will take just 2-3 days to arrive in Beijing.
The economics behind this consumer experience boils down to some key differences at the heart of the U.S.-China trade story.
— Evelyn Chen
