This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Friday. Remember that Ring Super Bowl commercial, the one about finding the lost dog? Turns out it didn't quite have the effect the Amazon -owned doorbell company was hoping for. Stock futures are down this morning, following a negative session for all three major averages. Here are five key things investors need to know to start the trading day:
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Feb. 11, 2026. Brendan Mcdermid | Reuters
2. Turn back time?
People shop at a Costco store in the Staten Island borough of New York City, U.S., Jan. 16, 2026. Brendan McDermid | Reuters
The Bureau of Labor Statistics this morning will release January's consumer price index, which — like Wednesday's jobs report — was delayed by the recent government shutdown. Investors are eager to see whether that's all the report will have in common with this week's labor data, or whether the CPI will bring more good news about the U.S. economy. Economists are expecting a 2.5% year-over-year increase, according to the Dow Jones consensus forecast. If the CPI is in line with those expectations, it would bring the inflation gauge back to where it stood in May 2025. Stock futures are lower before the bell heading into the report, which is due out at 8:30 a.m. ET. Follow live market updates here.
3. Hear a pin drop
Dado Ruvic | Reuters
Shares of Pinterest plunged more than 20% in extended trading after the social media company missed Wall Street's earnings and revenue expectations for its fourth quarter. Pinterest CEO Bill Ready chalked up the disappointing quarter to President Donald Trump's tariffs, which weighed on retail advertisers. The company also issued weaker-than-expected guidance for the current period, with CFO Julia Donnelly telling analysts on Thursday that Pinterest expects "these headwinds will continue and may become slightly more pronounced in Q1." Instacart , on the other hand, reported strong revenue for its most recent period and issued an optimistic forecast for its first quarter. Shares of the grocery delivery platform are up 13% before the bell.
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4. Climate policy change
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