Finance
Morning Bid: Jobs in Rearview, Earnings Next
Published by Global Banking & Finance Review®
Posted on February 12, 2026
2 min readLast updated: February 12, 2026
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Published by Global Banking & Finance Review®
Posted on February 12, 2026
2 min readLast updated: February 12, 2026
Add as preferred source on GoogleEuropean earnings and U.S. jobs data influence market outlook, with the Fed expected to hold rates steady. Key earnings reports are anticipated.
A look at the day ahead in European and global markets from Ankur Banerjee
A slate of European earnings takes centre stage for investors on Thursday after a surprisingly strong U.S. jobs report firmed expectations the Federal Reserve will likely hold rates steady at least till the second half of the year.
The outlook for policy will depend on upcoming labour market and consumer prices. For now, investors are cutting wagers of a near-term move by the Fed, with the spotlight shifting to Friday's inflation report.
The U.S. jobs data offered a mixed picture. The higher-than-forecast headline figure hinted the labour market might be doing all right, but a deeper look showed job concentration and prior downward revisions revealing underlying weakness.
Market pricing now suggests little to no chance of a rate cut in March, but possibly a move in June.
The shift in Fed expectations helped the dollar firm up just a touch against most currencies except the yen, which has now risen 3% this week in the wake of Prime Minister Sanae Takaichi's resounding election victory over the weekend.
The yen has been bolstered by reassuring noises from Takaichi regarding fiscal policies. Investors hope that her decisive win means the Takaichi government will be fiscally responsible and not need to bow down to opposition demands.
The pan-European STOXX 600 index closed at a record peak on Wednesday, and futures point to a higher open ahead of earnings from carmaker Mercedes, the world's top brewer Anheuser-Busch InBev and luxury firm Hermes.
The outlook for European corporate health has improved, based on LSEG data, but companies in the region are still expected to report a drop in fourth-quarter earnings in what could be their worst performance in the past seven quarters.
Key developments that could influence markets on Thursday:
Economic events: UK GDP data for Q4 and 2025
Earnings: Mercedes Benz, Hermes, Anheuser-Busch Inbev and L'Oreal
(Editing by Jacqueline Wong)
Gross Domestic Product (GDP) measures the total economic output of a country, reflecting the value of all goods and services produced over a specific time period.
Corporate profits refer to the earnings of companies after all expenses, taxes, and costs have been deducted from total revenue.
Monetary policy involves the actions taken by a country's central bank to control the money supply and interest rates to achieve economic objectives.
Employment opportunities refer to the availability of jobs within the labor market, influenced by economic conditions and business growth.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power.
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