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

Episode Date: February 13, 2026

The latest in business, financial, and markets news and how it impacts your money, reported by CNBC's Peter Schacknow Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Peter Shacknow, CNBC. Wall Street is poised for a losing week, and the market is extending its losses, despite a tamer than expected consumer price index report. The Dow is currently down 194 points at 49,262. The S&P 500 is shedding 14 points for 2 tenths of a percent, and the NASDAQ a half percent lower or about 102 points. The CPI rose two-tenths of a percent last month. Analysts had expected an increase of three-tenth of a percent for January.

CNBC Senior Economics reported, Steve Leasman says this January was atypical where inflation is concerned. We've had four Januarys in a row of upside surprises or relatively elevated inflation. This would be the month where price increases are passed along. And we're just not seeing the pass along that people expected inside the goods that might be tariffed here. So maybe we've been there done that. We did have an increase in those goods from tariffs.

And maybe we're at the point where that's a done deal now. Among stocks on the move this morning, applied materials is up 11.5%. The maker of semiconductor manufacturing equipment forecast current quarter results above Wall Street estimates, thanks to artificial intelligence-driven demand for its chip-making tools. Coinbase is up 9.5% despite the cryptocurrency exchange operator reporting a surprise quarterly loss. Part of that optimism is rooted in growth for so-called prediction markets, a relatively new way to trade on the Coinbase platform. Treasury Secretary Scott Bessentel CNBC, the Senate Banking Committee has agreed to move forward with confirmation hearings for Kevin Warsh, President Trump's nominee to be the next chairman of the Federal Reserve.

Current Chairman Jerome Powell's term ends in May. Peter Schack now, CNBC. Ambition. It's got America written all over it. CNBC live ambitiously.