Moe’s Market Memo – February 13, 2026
Weekly data-driven insights on the markets and economy
Mohammad Abouchleih, MBA, CIMA®
Investment Analyst
Payrolls Beat Bets
U.S. payrolls rose by 130,000 in January, exceeding expectations, according to data released on Wednesday by the U.S. Bureau of Labor Statistics. The unemployment rate edged down to 4.3%, with health care and social assistance driving most of the job gains. The report points to a stabilizing, though still slow‑growing, labor market as 2026 begins.1
Housing Headway
A bipartisan housing affordability package advanced in the House of Representatives on Monday, aiming to boost housing supply by easing construction rules and incentivizing builders and local governments. The legislation, which passed 390–9, also includes provisions to support community banks and expand mortgage access. Lawmakers must now reconcile differences with a separate Senate bill before sending a final measure to the White House.2
GLP-1 Copycat Crackdown
On Monday, Novo Nordisk said it is suing Hims & Hers over the mass marketing of compounded copycat versions of its Wegovy obesity drugs, seeking to block sales and recover damages. The move escalates a growing legal and regulatory fight over compounded GLP‑1 treatments, which Novo estimates are being used by as many as 1.5 million Americans. Shares of Hims fell sharply following the announcement, while Novo’s stock rose.3
Retro Retail Revival
Gen Z is romanticizing 2016 as a period associated with stronger growth and lighter consumer sentiment, reflecting a broader social media trend. Analysts say this nostalgia reflects risk aversion, with younger consumers gravitating toward familiar brands and experiences rather than experimentation. For investors, this nostalgia reset could translate into a retail revival for brands that once defined the mid-2010s and could re‑engage value‑conscious shoppers.4
TrumpRx Targets Drug Discounts
The White House announced last Thursday the launch of TrumpRx, a direct‑to‑consumer website aimed at lowering prescription drug costs. The platform directs consumers to drugmakers offering cash‑pay discounts or coupons, a model expected to benefit uninsured or underinsured patients most. It remains unclear how much savings insured patients will see compared with prices negotiated through traditional insurance plans.5
Hiring Halt
Last Thursday, U.S. employers announced 108,435 layoffs in January, marking the highest start‑of‑year total since 2009, according to Challenger, Gray & Christmas. Planned hiring fell to just 5,306 roles—the lowest January on record—while job openings dropped to 6.54 million, their weakest level since September 2020. The data signals growing employer caution heading into 2026, with layoffs accelerating even as hiring intentions stall.6
[1] Cox, Jeff. “U.S. payrolls rose by 130,000 in January, more than expected; unemployment down to 4.3%.” CNBC, 11 February 2026, https://www.cnbc.com/2026/02/11/jobs-report-january-2026-.html. Accessed 11 February 2026.
[2] Wilkins, Emily. “Housing affordability package set to advance in Congress amid home‑cost concerns.” CNBC, 9 February 2026, https://www.cnbc.com/2026/02/09/housing-affordability-prices-congress.html. Accessed 11 February 2026.
[3] Constantino, Annika Kim. “Novo Nordisk sues Hims & Hers over copycat versions of Wegovy drugs; Hims stock falls.” CNBC, 9 February 2026, https://www.cnbc.com/2026/02/09/novo-nordisk-sues-hims-hers-compounded-obesity-drugs.html. Accessed 11 February 2026.
[4] Han, Lisa Kailai. “Gen Z is nostalgic for 2016 amid economic unease. Mall brands like Abercrombie & Fitch may see a revival.” CNBC, 7 February 2026, https://www.cnbc.com/2026/02/07/gen-z-2016-ambercrombie-fitch.html. Accessed 11 February 2026.
[5] Constantino, Annika Kim and Pramuk, Jacob. “White House launches direct‑to‑consumer drug site TrumpRx. Here’s what to know.” CNBC, 5 February 2026, https://www.cnbc.com/2026/02/05/trump-rx-white-house-launches-direct-to-consumer-drug-site.html. Accessed 11 February 2026.
[6] Cox, Jeff. “Layoff and hiring announcements hit their worst January levels since 2009, Challenger says.” CNBC, 5 February 2026, https://www.cnbc.com/2026/02/05/layoff-and-hiring-announcements-hit-their-worst-january-levels-since-2009-challenger-says.html. Accessed 11 February 2026.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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