Good morning.

Investors have tiptoed back into the markets this morning, allowing a small bit of reprieve following yesterday’s sharp declines.

Helping to comfort concern this morning was an inflation print that showed … for January at least … rising costs to be a little lower than expected … yet still above the claimed Fed target.  This changed the betting markets to figure a 50% chance of the Fed cutting 3 times in 2026 … a move which potential home buyers might excitingly applaud.

Is a possible partial government shutdown on anyone’s mind right now?  It doesn’t seem to be as shutdowns (also known as “kicking the can down the road”) now seem part of everyday life … as they appear to happen with greater frequency … and very little damage.

One interesting move happened yesterday … for with the simple stroke of a pen most federal greenhouse emission standards were eliminated in what the administration claims is “the largest deregulation action in American history.”

How significant is the action by the administration?  The Press Secretary shared that this would save the American people $1.3 trillion in “crushing” regulations … which would bring down the cost of new cars … though some might certainly question that math and others will worry about additional future effects on health care costs and longevity.

Meanwhile, I am in my own fight.

I pleaded with my doctor to prescribe the weight-loss pill (as I write this while eating a bagel) and the pharmacy called.  Sure … and since the cost is not covered by insurance, I was told I must pay $1400 to pick it up … or $149 if I find a coupon.”

Are you kidding me?  I will turn over heaven and earth to find a coupon … and find the difference ridiculous.  In fact, it makes me realize there just must be a black market for coupons … so once I find them … I will print out a few dozen.

One thing I did learn … focused on dieting … is I’ve learned how to pace and am now strictly limit myself to 3 meals a day.

.  Let’s see … it’s 11:55 and I am finishing my breakfast bagel …

… excited to see I only have to wait 5 minutes more until lunch

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

A Look At The News | February 13, 2026 As of 11:55 AM today … Inflation cooled in January … but you can be sure that the “data focused” Fed will more closely watch the February numbers to see if a trend has started (NBCNews) https://www.nbcnews.com/business/economy/january-inflation-report-trump-tariffs-rcna258842   … but this does not seem to indicate “stagflation” by any means … as the economy still appears o be moving in the right direction (AtlantaFed) https://www.atlantafed.org/research-and-data/data/gdpnow   It is always interesting to learn management claims about a possible shortfall in earnings and to hear a streaming company blame imports seemed far-fetched at first … but it is not (CNBC) https://www.cnbc.com/2026/02/13/-pinterest-stock-price-tariff-earnings-layoffs.html   There are so many people using diet drugs now … but once weight is lost … can you use these drugs just to maintain a certain level? (NPR) https://www.npr.org/2026/02/12/nx-s1-5711686/glp1-obesity-normal-weight-loss-bmi   Often taught … but rarely followed … are suggestions about starting to grow a retirement nest egg at a young age. This is a checklist that could be wise to follow (ArtofManliness) https://www.artofmanliness.com/career-wealth/wealth/personal-finance-goals-for-your-20s/   If you use one of those self-driving taxis … please do the company a favor … close the door when you leave.  If not, it will leave the vehicle incapacitated (CNBC) https://www.cnbc.com/2026/02/12/waymo-is-paying-doordash-gig-workers-to-close-its-robotaxi-doors.html   The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us. Emerald Asset Management PA, LLC | 717-556-8900 | 3175 Oregon Pike, Leola, PA 17540 Want to change how you receive these emails? You can unsubscribe from this list. ———————————————————————————- The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.