Understanding AI Anxiety: Two Key Sources

What’s in Today’s Report:

• Understanding the Two Sources of AI Anxiety – And How to Protect Against It
• Chart: HALO Sectors (Heavy Asset, Low Obsolescence) Are Handily Outperforming YTD

Futures are tracking global stocks higher after Trump’s SOTU address did not present markets with any material surprises while trader focus shifts ahead to the critical Q4’25 earnings release from NVDA after the close today.

Economically, Eurozone Narrow Core HICP (Core CPI equivalent) cooled to 2.2% from 2.3% in January, meeting expectations and offering fresh evidence that global disinflation trends remain intact in 2026.

Looking ahead to today’s session, there is one government-shutdown-delayed economic report due to be released: New Home Sales (E: 680K), and a handful of Fed officials scheduled to speak: Barkin (9:35 a.m. ET), Schmid (11:00 a.m. ET), and Musalem (1:20 p.m. ET).

Additionally, the Treasury will hold 4-Month Bill auction at 11:30 a.m. ET and a 5-Yr Note auction at 1:00 p.m. ET. If demand is overly strong, or weak, for either, we could see a reaction in bonds that reverberates into equity markets (the stronger/more-dovish, the better).

Finally, there are a slew of important earnings reports today including multiple AI-sensitive/semiconductor names: TJX ($1.38), LOW ($1.95), NVDA ($1.45), CRM ($2.14), SNOW ($-0.65), and IONQ ($-0.48).