Squawk on the Street Inflation Watch, AI Fears, the Tech Sell-Off and Beyond 2/13/26
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Feb 13, 2026 Conversation centers on cooler-than-expected CPI and how markets reacted to it. They dig into AI-driven jitters that slammed mega-cap tech and sparked a tech sell-off. Discussion of extreme single-stock moves and which sectors are rebounding. Coverage includes Rivian and EV dynamics, chip-equipment strength, and debates over hyperscaler AI spending and potential malinvestment.
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Goldilocks CPI Eased Rate Fears
- January CPI felt Goldilocks: cooler than feared and kept some dovish pressure off rates.
- Scott Wapner says the market's losses were driven more by internal positioning than macro shock.
Volatility From Crowded Positioning
- The recent volatility largely reflects excessive positioning concentrated in a few trades, not broad fundamentals.
- Michael Santoli warns that phantom AI threats triggered sharp reversals in crowded cyclical and transport names.
Small Press Release, Big Transport Sell-Off
- Scott recounts how a small, obscure trucking press release triggered a massive one-day sell-off in transports.
- He uses the episode to show how speculative flows can amplify tenuous AI narratives.