US Adds 130K Jobs, Sec. Wright Visits Venezuela | Bloomberg Businessweek Daily 2/11/2026
Watch on YouTube ↗  |  February 11, 2026 at 21:00 UTC  |  46:02  |  Bloomberg Markets
Speakers
Constance Hunter — Chief Economist, Economist Intelligence Unit
Aaron Jagdfeld — Chairman, President, and CEO, Generac
Annmarie Hordern — Bloomberg Surveillance Co-Host (Reporting from Venezuela)
Dina Esfandiary — Middle East Economic Lead, Bloomberg News
Jordan Fabian — White House Reporter, Bloomberg News
Norah Mulinda — Bloomberg Market Reporter

Summary

  • US Labor Market is stabilizing but structurally constrained; 130k jobs added in Jan 2026, but immigration slowdowns are creating long-term shortages in construction and healthcare.
  • Generac (GNRC) is pivoting aggressively to Data Center infrastructure, forecasting a "generational opportunity" with capacity doubling to $1B to meet hyperscaler demand.
  • Geopolitical shifts are creating specific energy plays: US/Venezuela rapprochement favors incumbent operators like Chevron, while Middle East tensions suggest short-term oil volatility but managed escalation.
  • USMCA uncertainty is rising with Trump threatening withdrawal; however, Ford (F) is signaling resilience against tariff headwinds.
  • Apple (AAPL) faces execution risk with confirmed delays in AI/Siri upgrades, pushing features to late 2026/2027.
Trade Ideas
Ticker Direction Speaker Thesis Time
XLE /WTI
WATCH Dina Esfandiary
Middle East Economic Lead, Bloomberg News
Tensions with Iran are high; Trump may strike, but analysts predict "managed escalation" rather than total war. A "managed escalation" implies a short-term spike in oil prices followed by a reversion to the mean as supply chains adapt. It is not a structural bull market for oil, but a volatility trade. WATCH. Buy the rumor of war, sell the news of "managed" conflict. Strait of Hormuz closure (low probability, high impact) would send oil to $100+. 2:22
LONG Aaron Jagdfeld
Chairman, President, and CEO, Generac
Generac was the top gainer in the S&P 500. The CEO explicitly stated they are entering the data center market and have "doubled capacity to over $1 billion" to serve hyperscalers. He called it a "generational opportunity." The market views Generac as a residential backup play, but the pivot to Data Center backup power changes the valuation multiple. With hyperscalers spending $150B+ in capex, Generac is transitioning from a weather-dependent cyclical stock to a secular AI infrastructure play. LONG. The guidance raise confirms the thesis is already monetizing. Execution risk in ramping manufacturing; potential saturation if grid stability improves (unlikely). 1:11
LYFT /Z /MAT /HOOD
SHORT Norah Mulinda
Bloomberg Market Reporter
All four companies reported earnings misses or poor guidance. HOOD (crypto decline), MAT (worst day since 1999), Z (legal costs), LYFT (revenue miss). These are idiosyncratic failures in a generally decent macro environment. The specific headwinds (crypto winter for HOOD, legal structural issues for Z, legacy liabilities for LYFT) are not easily fixed in one quarter. SHORT. Momentum is broken, and overhead supply from trapped longs will cap rallies. Oversold bounce; potential M&A targets (specifically Z or LYFT). 25:06
AVOID Tim Stenovec
Editor-at-Large, Axios
Apple's Siri upgrade has run into "snags," pushing key features to iOS 26.5 or iOS 27. In an AI-driven market, speed is currency. Delays in shipping a competitive AI agent (Siri) suggest deep structural code issues or lack of readiness, leaving Apple vulnerable to competitors who are shipping functional agents now. AVOID. The "AI Supercycle" thesis for Apple is delayed. Apple could surprise with a different feature set; loyal user base ignores the delay. 44:46
F
LONG Norah Mulinda
Bloomberg Market Reporter
Ford shares are rising after forecasting a profit jump in 2026 despite a $900 million tariff bill. They are launching $40k EVs by 2027. The market feared tariffs would crush auto margins. Ford's guidance proves they have pricing power or cost efficiencies to absorb trade war costs, separating them from more vulnerable auto peers. LONG. Relative strength against a backdrop of trade uncertainty. USMCA withdrawal (extreme scenario) could disrupt supply chains beyond current tariff expectations. 37:13
CVX
LONG Annmarie Hordern
Bloomberg Reporter
US Energy Secretary Chris Wright is in Venezuela meeting with leadership. The US is lifting licenses. Chevron has been operating there for 100 years and is "not going anywhere." As the US seeks to stabilize global oil supply by bringing Venezuela back online, Chevron is the primary beneficiary as the only US major with active, scalable infrastructure on the ground. Smaller players face higher barriers to entry regarding stability and rule of law. LONG. Chevron is the "State Department's proxy" for Venezuelan oil recovery. Political volatility in Venezuela; reversal of US sanctions relief. 13:30