US EQUITY OPEN: Indices pare initial opening strength as memory names outperform

Analysis details (14:53)

OPEN: US indices opened in the green, albeit not with extensive gains, which has since pared, but the majority of sectors are in the green. Real Estate and Industrials outperform, with Health and Energy open lower, with the latter seeing slight pressure from modest downside in the crude complex. There has been little new on the geopolitical footing since the WSJ piece yesterday, suggesting the US is considering sending another aircraft carrier to the Middle East. Since the close on Wednesday, Fed’s Miran and Hammack were on the wires, and the perennial dove said the NFP report does not mean the Fed can't lower rates, and there’s a variety of reasons why the Fed can, while Hammack said the Fed should hold for now. Jobless claims declined, but slightly above expectations, as traders await US CPI on Friday. The Dollar is slightly lower to the benefit of all G10 peers with NZD, CHF, GBP outperforming. Stock specific highlights include memory names (MU, SNDK, STX, WDC) benefitting from stellar Kioxia guidance. Treasuries are firmer across the curve, with spot gold residing in the red.

STOCK SPECIFICS:

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  Applovin (APP): Results impressed, but desks note fell shy of buy-side estimates.


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  Cisco (CSCO): Issued guidance that only met expectations, disappointing traders, despite reporting better-than-anticipated quarterly results


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  Equinix (EQIX): Strong next Q & FY view.


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  iPhone (AAPL) sees China growth in January


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  Kioxia’s issues stellar outlook, reflecting a surge in NAND flash memory prices & strong demand for the data storage needed for AI. Of note for MU, SNDK, STX, WDC.


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  McDonald's (MCD): EPS, rev. & comp. sales all impressed


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  Motorola (MSI): EPS & rev. topped w/ stronger than exp. FY outlook


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  Tyler Tech (TYL): Top & bottom line light as was FY rev. midpoint guide.

12 Feb 2026 - 14:53- EquitiesGeopolitical- Source: Newsquawk