New York, Feb 11, 2026, 08:02 EST — Premarket
- Bank of America dropped last session, with U.S. financial stocks trailing behind.
- Investors are on edge, awaiting a delayed U.S. jobs report along with inflation figures due later this week.
- Concerns over AI-driven upheaval, which have already rattled software names and brokerage firms, are now making waves in finance.
Bank of America Corp (BAC) heads into Wednesday’s session in the spotlight, with traders eyeing a postponed U.S. jobs report that might jolt rate expectations. Shares gave up 1.8% Tuesday, ending the day at $55.39. 1
The Labor Department’s January jobs data lands at 8:30 a.m. ET, offering a crucial read on hiring and wage momentum. Payroll surprises often jolt Treasury yields and reset forecasts for Fed rate moves, rippling through to borrowing appetite and net interest income — that’s the gap between what banks earn and what they pay out. 2
Not much breathing room on the calendar. January’s consumer price index drops Friday, just two days after jobs numbers hit. Markets get only a brief window between the two. 3
Bank of America shares dropped Tuesday, sliding along with the rest of the big banks. JPMorgan Chase shed 1.2%, Citigroup ticked down 1.4%, and Wells Fargo tumbled 2.8%. The Financial Select Sector SPDR fund, which tracks U.S. financials, dropped roughly 0.8%.
Wealth managers and brokerages took a hit as fintech upstart Altruist introduced AI-powered tax-planning tools, bringing back concerns about artificial intelligence putting pressure on fees industry-wide. “Traders sell first and ask questions later,” said Dennis Dick, chief market strategist at Stock Trader Network. For some businesses, though, the barriers haven’t changed much. Morningstar’s equity research director Sean Dunlop flagged firms built on relationships or those tied up with large amounts of capital, like lending, as still holding some ground. 4
U.S. stock index futures edged up early Wednesday, with investors hesitating ahead of a wave of data releases. “A soft data set would likely reinforce dovish Fed expectations,” Swissquote Bank senior analyst Ipek Ozkardeskaya said, but she also flagged that a firmer read could dampen hopes for rate cuts anytime soon. 5
Tuesday brought a retail sales report for December that landed flat, defying forecasts and hinting at consumers losing steam. U.S. Treasury yields slipped after the numbers hit. “Signs of earlier consumer strength may be starting to falter,” Thomas Ryan, North America economist at Capital Economics, said in a note. 6
Dallas Fed President Lorie Logan weighed in on the rate outlook late Tuesday, describing herself as “cautiously optimistic” that the Fed’s present policy could steer inflation back toward its target level without upsetting the labor market. She signaled she doesn’t see a need for more rate cuts—provided the data play along. Still, Logan emphasized her deeper concern is inflation proving sticky. 7
Nonfarm payrolls are forecast to climb by about 70,000 in January, according to economists polled by Reuters, while the unemployment rate is seen holding at 4.4%. The figures come after a government shutdown pushed back the release. This report also rolls in the annual benchmark revisions—an update that resets the payroll estimates each year—and adjustments to the statistical model tracking business openings and closures. “The underlying stress in the labor market is greater than the overall unemployment suggests,” said Diane Swonk, chief economist at KPMG. 8
BofA Finance LLC, with Bank of America standing behind it, has filed a preliminary pricing supplement for a set of auto-callable yield notes tied to Amazon.com shares, according to an SEC filing on Tuesday. The notes are slated for pricing on Feb. 10, with issuance set for Feb. 13, the document said.
For BAC, the setup isn’t one-sided. Stronger jobs data might send yields up, fueling the “higher for longer” narrative and ratcheting up financial conditions. On the flip side, a soft report could boost bets on rate cuts—but might also stoke worries over sluggish growth and potential credit losses ahead.
Eyes are on the 8:30 a.m. ET payrolls drop, with traders zeroing in on wage figures and any revisions. Right after that, attention swings to the January CPI report—postponed and now squeezed into Friday thanks to the brief shutdown. That shuffle has crammed key data into just a few days this week. 9
