Weekly Market Recap (February 9–13, 2026)
U.S. equities fell broadly as software and growth sentiment weakened again, pulling down the Nasdaq and pressuring rate-sensitive risk appetite. Beneath the headline decline, leadership tilted toward defensives and yield-oriented pockets, while Financials and Communication Services lagged.
The week’s narrative was dominated by “AI anxiety” in software and mixed earnings reactions across platform names—creating a market where fundamentals and price action briefly disconnected.
Index Performance (Weekly)
| Index | Weekly Change |
|---|---|
| S&P 500 | −1.85% |
| Nasdaq | −2.98% |
| Dow Jones | −1.27% |
Sector Snapshot (1-Week)
The Score — What Drove the Market
- Software “AI anxiety”: Multiple desks framed the week’s selling as sentiment-driven—software stocks traded “disconnected from fundamentals” as investors reassessed how AI reshapes the landscape.
- Shopify & agentic commerce: Bullish notes emphasized sustained GMV growth, rising take-rate, and payments penetration—yet the stock’s selloff was attributed to weak AI sentiment rather than core execution.
- Robinhood volatility: Prediction markets revenue stood out, but analysts questioned durability (seasonality after NFL) while also flagging the platform’s dependence on broader market conditions after a crypto-driven swing in results.
- Telecom capex discipline: America Móvil highlighted multiyear capex intensity (~14–15% of revenue), keeping the focus on steady infrastructure investment rather than high-beta growth narratives.
- Cost cuts vs growth visibility: Angi’s update drew skepticism—investors struggled with messaging around reinvestment, higher spend, and limited near-term growth, amplifying downside in a risk-averse tape.
- Why defensives led: With growth and comms under pressure, investors sought stability—Utilities, Real Estate, and Consumer Defensive outperformance fit a classic “hide in cash-flow” rotation.
Key Takeaway
This was a sentiment-led week: growth names struggled even when fundamentals held up, while defensives and yield-oriented sectors absorbed flows. Until confidence improves around how AI disrupts the software stack—and whether leaders can monetize through it—expect continued dispersion and selective risk-taking.
Week ended February 13, 2026. Data based on provided figures.
