Experts break down the December retail sales data

Watch on YouTube ↗  |  February 10, 2026 at 15:58  |  5:16  |  CNBC
Speakers

Summary

  • December retail sales data showed "no change," which experts attribute to early holiday spending in November (which was up 0.6%) rather than consumer weakness.
  • Sylvia Jablonski argues the market is in a "Goldilocks" era—inflation is cooling enough to allow Fed rate cuts, but the economy isn't collapsing—which supports a rebound in AI stocks.
  • Komal Sri-Kumar offers a contrarian warning: he expects a sharp spike in January inflation and compares the current AI hype to the 1999 dot-com bubble, predicting that future Fed policy (under potential Chair Kevin Warsh) could lead to a liquidity crisis or market crash.
Trade Ideas
Sylvia Jablonski Chief Investment Officer, Defiance ETFs 0:37
The speaker notes a recent "big pullback" in the AI software story but believes the current economic data supports a recovery. The economy is in a "Goldilocks" zone. Retail sales were cooler than expected but not disastrous ("not so bad that it mandates an emergency"). This allows the Fed to stay on track for two priced-in rate cuts. Lower rates and a stable economy generally favor high-growth tech stocks. December retail sales were flat, but November was strong. Jobs data needs to show stability; further softening in JOLTS or employment numbers could spook the market.
SPY
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This CNBC video, published February 10, 2026, features Sylvia Jablonski discussing SPY. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Sylvia Jablonski  · Tickers: SPY