02-12-2026 | Stronger jobs data and trade tensions reshape expectations across markets and policy.

COMPANIES. Musk reorganizes xAI ahead of IPO. Elon Musk RESTRUCTURED xAI after merging it with SpaceX. The company created FOUR divisions focused on Grok models, coding systems, multimedia generation and machine learning infrastructure. Executives cited access to a large graphics processing unit cluster and plans for orbital data centers. The group is preparing a PUBLIC OFFERING to fund expansion. THE ECONOMY. United States ADDS 130 THOUSAND jobs in January. Nonfarm payrolls rose by 130 thousand and the unemployment rate stood at 4.3 PERCENT. Health care, social assistance and construction led gains. Federal government and financial activities cut positions. Benchmark revisions reduced prior job estimates for 2025. Markets reduced bets on near term rate cuts. POLITICS. House votes to rescind tariffs on Canada. The United States House approved a resolution challenging tariffs on Canadian goods. The measure passed with bipartisan support. The vote is symbolic and does not automatically remove the tariffs. It signals pressure inside Congress over trade policy. MARKETS. Gold falls as yields rise. After the jobs report, Treasury yields climbed and the dollar strengthened. Gold prices moved lower. Investors adjusted expectations for Federal Reserve policy. Rate cuts now appear LESS IMMEDIATE.