CNBC Business News Update Market Close: Stocks Have Worst Week In Nearly 3 Months, CPI Comes In Tamer Than Expected, DraftKings Proves A Bad Bet, No Interest In Pinterest 2/13/2026
Feb 13, 2026
Dan Ives, a Wedbush analyst known for bold takes on AI and tech, and Mark Zandi, Moody’s chief economist, whose inflation analysis grounds the discussion. They cover this week’s market sell-off and tech valuation stress. They parse cooler-than-expected CPI and how one-off factors skew inflation readings. They also note a steep drop after disappointing social media results.
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Markets End Week On A Weak Note
- The major averages logged their worst week in nearly three months despite small Friday gains.
- The CPI's smaller-than-expected monthly rise offered some relief but did not erase weekly market losses.
Tamer CPI Eases But Doesn’t Eliminate Worries
- CPI rose 0.2% last month, coming in below expectations and easing immediate inflation fears.
- Investors took comfort but remained cautious because underlying inflation pressures persist for necessities.
CPI Figures Skewed By Last October’s Data Gap
- Mark Zandi warns the CPI reading may be misleading due to last October's data collection gap.
- Adjusting for that gap would put year-over-year CPI closer to 3%, showing higher underlying inflation.