Squawk on the Street "Jobs Wednesday," Robinhood Slides, Mattel Plummets 2/11/26
13 snips
Feb 11, 2026 
Harley Finkelstein, President of Shopify, talks Shopify results and a concise mini bio: a leader steering Shopify’s commerce products. He discusses AI commerce strategy and product initiatives like Sidekick and the Universal Commerce Protocol. Short takes cover AI’s role in shopping, agentic storefronts, and growth metrics.
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Jobs Beat Refreshes Economic Momentum
- The January jobs beat shows the labor market still has momentum despite prior downward revisions.
- That strength tempers immediate expectations for Fed rate cuts and supports risk appetite briefly.
AI Fears Not Yet Evident In Jobs Data
- AI talk is everywhere but hasn't yet produced clear, large-scale job eliminations in the data.
- Job gains are concentrated in health care and education, sectors less exposed to AI replacement.
AI Drives Sector-by-Sector Selloff
- Market volatility is rotating through sectors as investors hunt for AI disruption targets.
- Wealth managers and brokers were hit quickly because new AI back-office tools threaten their labor-heavy architectures.