Stock Market Summary – February 11, 2026

Bill Ackman’s Pershing Square has acquired a substantial stake in Meta, representing 10% of Pershing’s capital as of the end of 2025. Ackman cited Meta’s undervalued share price and artificial intelligence potential as reasons for the investment. Meta shares have declined by 16% over the past year due to concerns about its high spending on AI.

David Einhorn of Greenlight Capital predicts that the Federal Reserve will make more interest rate cuts this year than anticipated, strengthening his confidence in gold. Despite expectations of rate cuts diminishing after positive January job reports, Einhorn believes that Kevin Warsh, Trump’s pick for Fed chair, will argue for more cuts.

Significant stock movements today include Acadia Healthcare, which rose 10% following Einhorn’s announcement that he has been purchasing the stock. Vertiv experienced a 20% surge due to upbeat guidance for 2026. However, Unity Software shares fell nearly 30% after predicting disappointing first-quarter revenue, and Moderna’s share price also fell by 6%.

January’s job report exceeded expectations with both job creation and the unemployment rate, although some economists believe the figures may be exaggerated.

Ford reported a larger than expected earnings shortfall in its fourth quarter, attributing the 32% miss to around $900 million in unexpected tariff costs and a fire at an aluminium plant. The company expects 2026 to be a year of recovery.

Shares of Moderna dropped by more than 10% following the FDA’s refusal to review its application for an experimental flu shot. The decision is believed to indicate that vaccine regulations are becoming stricter under the Trump administration.

Stock futures have risen following the January nonfarm payrolls report and the S&P 500’s threat to the sector. Notably, the Dow Jones Industrial Average exceeded 50,000 for the first time last week and has continued to break records since.