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US-based employers announced 48,307 job cuts in February 2026, and that is down ~72% compared to the same month last year. Some good news is that through February, employers announced 156,742 job cuts in total. That marks the lowest January-to-February total since 2022. But when you put things into better context, it is the fifth-highest January-February total since 2009.

The tech sector once again is the one seen slashing jobs the most with 11,039 job cuts in February. That brings the year-to-date total to 33,330 in 2026 so far. Of note, this marks a 51% increase to the 22,042 cuts in this sector announced in the same period last year.

Challenger notes that:

"Tech is responding to a number of pressures right now. AI is the big story, but…

The consensus is for a softer reading in the headline non-farm payrolls figure, following the strong showing in January. The first month of the year typically has seasonal factors imbued and this time, we are expected to see job gains of 59k.

One known downside factor is the United Nurses Associations of California/Union of Health Care Professionals (UNAC/UHCP) strikes, which will reflect around 31k striking workers over the payrolls reference period. The health physicians on strike will be absent from the payrolls figure having not worked through 26 January to 23 February. Of note, this will be the largest strike activity impact on the labour market report since October 2024 (the Boeing worker strike).

As such, just keep in mind to…

The consensus is for a softer reading in the headline non-farm payrolls figure, following the strong showing in January. The first month of the year typically has seasonal factors imbued and this time, we are expected to see job gains of 59k.

One known downside factor is the United Nurses Associations of California/Union of Health Care Professionals (UNAC/UHCP) strikes, which will reflect around 31k striking workers over the payrolls reference period. The health physicians on strike will be absent from the payrolls figure having not worked through 26 January to 23 February. Of note, this will be the largest strike activity impact on the labour market report since October 2024 (the Boeing worker strike).

As such, just keep in mind to…

• Prior -0.5%; revised to +0.2%

The breakdown shows an increase in retail sales for food, drinks, tobacco (+0.3%), offset by a decline in sales for non-food products (-0.2%) and automotive fuel in specialised stores (-1.1%). But relative to the same month last year, euro area retail sales is at least seen up 2.0%. The monthly trend:

•  Asian Stock Markets : Nikkei up 1.36%, Shanghai Composite up 0.84%, Hang Seng up 0.75% ASX up 0.24%
• Commodities : Gold at $5,191.90 (1.11%) Silver at $84.945 (2.11%), Brent Oil at $83.79 (1.64%), WTI Oil at $77.20 (3.39%)
• Rates : US 10-year yield at 4.114, UK 10-year yield at 4.4440, Germany 10-year yield at 2.7459

• (USD) ADP Non-Farm Employment Change  63K  to 50K  expected

Asian stock markets traded mostly higher on Thursday, following broadly positive cues from Wall Street overnight. Technology stocks led the gains across the region, mirroring the strength seen on the tech-heavy Nasdaq. Markets in South Korea, Taiwan, Hong Kong and Indonesia posted notable…

•  Asian Stock Markets : Nikkei up 1.36%, Shanghai Composite up 0.84%, Hang Seng up 0.75% ASX up 0.24%
• Commodities : Gold at $5,191.90 (1.11%) Silver at $84.945 (2.11%), Brent Oil at $83.79 (1.64%), WTI Oil at $77.20 (3.39%)
• Rates : US 10-year yield at 4.114, UK 10-year yield at 4.4440, Germany 10-year yield at 2.7459

• (USD) ADP Non-Farm Employment Change  63K  to 50K  expected

Asian stock markets traded mostly higher on Thursday, following broadly positive cues from Wall Street overnight. Technology stocks led the gains across the region, mirroring the strength seen on the tech-heavy Nasdaq. Markets in South Korea, Taiwan, Hong Kong and Indonesia posted notable…

The volatile trading continues on the week and it's tough to hold any intraday convictions. S&P 500 futures were down by as much as 0.5% earlier on but have now climbed back up to pare losses to be up 0.1% on the day.

The only plausible headline I'm seeing that ties closely is one reported by Sky News Arabia, in citing Iran's foreign ministry as to saying that they might consider abandoning its nuclear program "if the US makes an attractive enough alternative offer". Quite frankly, the odds of that are almost nil I would say. We're already seeing both sides wage a war and Trump is not going to be patient enough to go back to the negotiating table.

As US futures bounce, European indices are also now turning positive with slight gains on the…

• Prior 46.4

Residential building was the main reason for the drag in overall construction activity in February, being the weakest-performing segment (37.0) once again. That being said, there were also contractions in both commercial construction activity (46.5) and civil engineering work (41.0) with the latter slumping to its softest since September last year.

S&P Global notes that:

"A sharper downturn in house building was the main factor behind the setback for UK construction activity in February, following some signs of stabilisation at the start of 2026. Total industry activity has decreased in each month since January 2025 and the latest decline was faster than seen on average over this period. The reduction in output was largely due to…