Equities Rise Intraday as Markets Parse CPI Report

02:04 PM EST, 02/13/2026 (MT Newswires) -- US benchmark equity indexes were higher intraday as investors assessed the latest consumer inflation report.

The S&P 500 was up 0.6% at 6,871.7 after midday Friday, while the Nasdaq Composite advanced 0.5% to 22,707.5. The Dow Jones Industrial Average rose 0.4% to 49,641.1. Barring communication services, all sectors were in the green, led by utilities' 2.8% jump.

Stock and bond markets will be closed Monday for the Presidents' Day holiday.

In economic news, US consumer inflation eased last month, with core price growth marking the slowest pace in nearly five years, Bureau of Labor Statistics data showed Friday.

"Although measured CPI inflation is somewhat understated because of October's shutdown-related distortions, it seems to be moving in the right direction -- toward the (Federal Reserve's) 2% target -- as both tariff effects and labor market pressures subside," BMO Capital Markets said in a report.

Markets widely expect the Fed to keep its benchmark lending rate steady for the second consecutive policy meeting in March, according to the CME FedWatch tool.

"Still, the (Federal Open Market Committee) will likely seek further confirmation that inflation is making sustained progress before resuming rate cuts, likely this summer," BMO said.

US Treasury yields were lower intraday, with the 10-year rate down 3.8 basis points at 4.07% and the two-year rate dropping 4.4 basis points to 3.42%.

In company news, Applied Materials (AMAT) shares jumped 9.1%, the second-top gainer on the S&P 500. The semiconductor equipment maker late Thursday issued an upbeat fiscal second-quarter outlook at the midpoint and reported better-than-expected results for the prior three-month period.

Moderna (MRNA) reiterated its full-year revenue growth outlook Friday, while the drugmaker posted better-than-projected results for the fourth quarter. The company's shares were up 6.1% intraday, among the best performers on the S&P 500.

Magna International's (MGA) US-listed shares surged nearly 20% as the Canadian auto parts supplier issued a 2026 outlook above Wall Street's projections following higher-than-expected quarterly results.

Constellation Brands (STZ) shares were down 4.7% intraday, one of the worst performers on the S&P 500. The beer and wine company's appointment of Nicholas Fink as chief executive is neutral to slightly negative and could have "sizable implications" for it, Deutsche Bank said in a note e-mailed Friday.

Chipmaking giant Nvidia's (NVDA) shares were down 1.6%, while iPhone maker Apple (AAPL) fell 1%, both among the steepest declines on the Dow.

West Texas Intermediate crude oil was up 0.4% at $63.09 a barrel intraday.

Gold rose 2.1% to $5,052.30 per troy ounce, while silver gained 2.7% to $77.75 per ounce.

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