CNBC Business News Update Market Open: Stocks Extend Losses Despite Tamer Inflation, Coinbase & Applied Materials Rally, Bessent Tells CNBC Warsh Nomination Will Move Ahead 2-13-2026
Feb 13, 2026
Steve Leisman, senior economics reporter at CNBC, breaks down why this January’s CPI surprised differently and how tariff pass-throughs matter. He walks through market reactions to the softer inflation print. Short takes cover Applied Materials’ AI-driven outlook and Coinbase’s rally amid a surprise loss.
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Inflation Surprise Fails To Lift Markets
- Wall Street extended losses even after a tamer-than-expected CPI print for January.
- Steve Leisman suggests January lacked the usual pass-through inflation seen in prior years, implying tariffs' effects may be behind us.
AI Demand Boosts Chip-Equipment And Crypto Stocks
- Applied Materials jumped 11.5% on a strong AI-driven equipment outlook.
- Coinbase rose despite a surprise quarterly loss, helped by growth in prediction markets on its platform.
Warsh Nomination Moving Toward Hearings
- Treasury Secretary Scott Bessent says the Senate Banking Committee agreed to move forward with Kevin Warsh's confirmation hearings.
- Warsh is President Trump's nominee to chair the Federal Reserve after Jerome Powell's term ends in May.