February 12th Financial Breakfast: Markets digest strong US jobs report, gold prices approach $5100, US-Iran tensions support oil price increases.
2026-02-12 07:18:10
On Thursday (February 12, Beijing time) in early Asian trading, spot gold opened near $5,100 per ounce. Gold prices rose on Wednesday, briefly giving back gains as the market digested a strong US jobs report, but steady long-term buying pushed gold back into momentum. US crude oil traded around $64.87 per barrel. Oil prices rose more than 1% on Wednesday as investors worried about escalating tensions between Iran and the United States, while a report of a sharp increase in US crude oil inventories last week limited gains.
The IEA releases its monthly oil market report.
The Nasdaq and Dow Jones Industrial Average closed slightly lower on Wednesday, while the S&P 500 was essentially flat. A stronger-than-expected January jobs report eased concerns about the economy but also reinforced bets that the Federal Reserve might slow its pace of interest rate cuts.
The Dow Jones Industrial Average fell 0.13% to close at 50,121.40; the S&P 500 dipped slightly to close at 6,941.47; and the Nasdaq Composite fell 0.16% to close at 23,066.47.
Data shows that U.S. job growth in January far exceeded expectations, and the unemployment rate fell to 4.3%. Traders subsequently lowered their expectations for interest rate cuts; the CME FedWatch tool shows that the probability of keeping rates unchanged in June has climbed from 24.8% to 41%. The market is still betting on at least a 25 basis point rate cut in June.
Julia Hermann, global market strategist at New York Life Investments, said investors have "pretty well" digested the change in interest rate cut expectations, interpreting the strong jobs report as a positive for the economy. "The key is that the current hiring strength is just right—it demonstrates economic resilience without being so strong as to undermine market expectations for future Fed easing."
Of the 11 sectors in the S&P 500, eight closed higher. The energy sector led the gains, rising 2.6%; the consumer staples sector rose 1.4%. The financial services and communication services sectors both fell by more than 1%.
Technology stocks were mixed. Chip stocks surged, with the Philadelphia Semiconductor Index rising 2.3%. Software stocks fell 2.6%, ending a three-day winning streak, after last week's sell-off amid concerns about the disruptive potential of artificial intelligence. Software giant Microsoft fell 2.2%, becoming the biggest drag on the S&P 500; Google's parent company Alphabet fell 2.4%, putting pressure on the communications services sector.
Brokerage stocks weakened for the second consecutive day. Charles Schwab and Ameriprise Financial both fell more than 3%, while LPL Financial plunged 6%. This followed concerns raised by the launch of an AI-powered tax planning feature by startup Altruist. Robinhood suffered the biggest drop in the financial services sector, falling 8.9% after the retail brokerage's fourth-quarter revenue missed expectations.
IBM was the biggest loser in the Dow Jones Industrial Average, while Caterpillar was the biggest gainer, rising 4.4%, after Argus Research significantly raised its price target from $625 to $820.
Gold prices rose more than 1% on Wednesday, briefly giving back gains as the market digested a strong U.S. jobs report, but solid long-term buying pushed gold back into momentum.
Spot gold was quoted at $5,074.29 per ounce, up 1%, after earlier hitting a high of $5,118.47. U.S. gold futures settled up 1.3% at $5,098.50.
U.S. job growth unexpectedly accelerated in January, with the unemployment rate falling to 4.3%. Signs of stabilization in the labor market may provide the Federal Reserve with room to allow policymakers to keep interest rates unchanged for some time.
Independent metals trader Tai Wong said, "A strong jobs report won't shake the psychology behind gold buying, which is seen as long-term and fundamentally driven." He pointed out that gold prices are generally trending upwards at both high and low levels, and buying confidence remains strong against the backdrop of debt concerns and the narrative of "leaving US assets."
A survey indicates that the Federal Reserve will keep key interest rates unchanged for the remainder of Chairman Powell's term, but will then immediately cut rates in June. Economists surveyed also pointed out that the risk of overly accommodative Fed policy has increased under the leadership of his likely successor, Warsh. Investors are currently closely watching Friday's U.S. Consumer Price Index report.
Spot silver rose 4.6% to $84.39 an ounce; spot platinum rose 2.5% to $2,138.50; and palladium rose 0.8% to $1,722.06.
Oil prices rose more than 1% on Wednesday as investors worried about escalating tensions between Iran and the United States—the two countries are preparing to restart negotiations—while gains were limited by a report of a sharp increase in U.S. crude oil inventories last week.
Brent crude futures settled at $69.40 a barrel, up 0.87%. WTI crude rose nearly 1.05% to settle at $64.63 a barrel.
US President Donald Trump said on Wednesday that no final decision had been made during his meeting with Israeli Prime Minister Benjamin Netanyahu, but that negotiations with Iran would continue. On Tuesday, Trump had stated that he was considering sending a second aircraft carrier to the Middle East if an agreement could not be reached with Iran.
"The escalating tensions between the US and Iran, and the seemingly intractable negotiations between the two sides, are providing support for oil prices," said Andrew Lipow, president of Lipow Oil Associates.
PVM Oil Associates analyst Tamas Varga noted, "Despite the occasional hardline rhetoric from both sides, there are no signs of escalation so far, and the US president believes that Iran will eventually seek an agreement on its nuclear missile program."
Data from the U.S. Department of Labor showed that U.S. job growth unexpectedly accelerated in January, with the unemployment rate falling to 4.3%, and the healthy economic situation also provided support for oil prices.
Data from the U.S. Energy Information Administration showed that U.S. crude oil inventories rose by 8.5 million barrels to 428.8 million barrels last week, far exceeding the survey's expectation of a 793,000-barrel increase, which limited the rise in oil prices.
The Organization of the Petroleum Exporting Countries (OPEC) predicts that global demand for oil from the OPEC+ alliance will decrease by 400,000 barrels per day in the second quarter, and its data also indicates a slight surplus for the quarter. OPEC+ is about to make a crucial decision on resuming production increases.
The dollar rose against the euro and the Swiss franc on Wednesday after unexpectedly strong U.S. jobs data for January showed a robust economic foundation, supporting the Federal Reserve's decision to continue holding off on further interest rate cuts.
The U.S. added 130,000 jobs in January, far exceeding the expected 70,000; the unemployment rate fell from 4.4% to 4.3%. Following the data release, the market's expectation that the Federal Reserve would maintain interest rates at its next meeting rose from 80% the previous day to 94%.
The dollar rose 0.42% against the Swiss franc to 0.7711. The euro fell 0.18% against the dollar to $1.1874.
Joel Kruger, market strategist at LMAX Group, said: "The dollar strengthened on a much stronger-than-expected jobs report and corporate earnings. The data weakened but did not eliminate market expectations of a Fed rate cut in June, and risk assets rose in tandem, putting the dollar in a near-optimal position with the market."
Marc Chandler, chief market strategist at Bannockburn Global Forex, noted: "The market remains skeptical of the dollar, but acknowledges that its expectations were misguided before the jobs data release. The market still expects a 50 basis point rate cut this year, and the probability of a June rate cut has fallen from 97% to about 70%."
The yen continued to strengthen. The dollar fell 0.75% against the yen to 153.22 yen, marking its third consecutive day of decline. The yen rose nearly 1% against the euro to 181.905 yen.
TS Lombard analyst Freya Beamish said that in addition to Prime Minister Sanae Takashi's overwhelming election victory, the yen's strength will be further consolidated by the following factors: unexpectedly low inflation data, continued capital outflows from US tech stocks, the start of budget negotiations in the coming weeks, and the normalization of Japanese hedge yields with global levels.
The Australian dollar rose to its highest level since February 2023, gaining 0.69% to US$0.71235 in late New York trading, after touching US$0.71430 earlier in the session. Reserve Bank of Australia Deputy Governor Hauser stated that inflation was too high and policymakers would take all necessary measures to control it. The pound fell 0.14% to US$1.36215. The US dollar index remained unchanged at 96.92.
US officials say the Department of Defense is preparing to deploy a second carrier strike group to the Middle East.
On February 11 local time, three US officials revealed that the US Department of Defense has instructed a second carrier strike group to prepare for deployment to the Middle East as the US military prepares for a possible attack on Iran. US President Trump had previously stated that he was considering sending a second carrier strike group to the Middle East in preparation for military action should negotiations with Iran fail. One US official stated that the deployment order could be issued within hours, but Trump has not yet formally given the order, and the plan is subject to change. Another official stated that the US Department of Defense is preparing to deploy a carrier strike group within two weeks, most likely from the US East Coast. (CCTV)
Zelensky denied announcing election plans in the near future, reiterating that "an election can be held as long as there is a ceasefire."
Ukrainian President Volodymyr Zelenskyy has refuted rumors that he will announce the presidential election date on February 24, emphasizing that elections can only be held if there are sufficient security guarantees. He also denied reports that the United States threatened to withdraw its security guarantees if Ukraine did not announce an election date. Zelenskyy stated that some of Ukraine's partners had raised the issue of elections, but Ukraine had never brought it up itself. He reiterated that Ukraine is ready for elections and clearly stated, "As long as there is a ceasefire, elections can be held." This statement directly links the election process to achieving a ceasefire, reflecting that, against the backdrop of the ongoing Russia-Ukraine conflict, Ukraine still considers security guarantees and the implementation of a ceasefire as prerequisites for initiating its domestic political agenda.
Iranian Foreign Minister reiterated that an agreement on a peaceful nuclear program is possible.
On March 11, local time, Iranian Foreign Minister Araqchi stated on his personal social media that he sincerely hopes the coming year will be a year of peace and tranquility, with dialogue replacing war. Diplomacy is the preferred option, and an agreement on Iran's peaceful nuclear program is possible, but only if it is fair and balanced. Iran will defend its sovereignty at all costs. Araqchi stated, "Our rights and dignity are not to be traded."
The Federal Reserve signals to the banking industry its intention to lift some of its regulatory warnings.
As Vice Chairman Bowman, responsible for supervision, continues to ease central bank oversight of U.S. financial institutions, the Federal Reserve has signaled to the banking industry its intention to rescind some previously issued, non-public rectification warnings. Sources familiar with the matter revealed that Fed regulators informed several banks across the country earlier this month that reviewers would begin reassessing unresolved warnings—non-public instructions requiring banks to fix deficiencies. Warnings will be rescinded if they do not meet the Fed's recent requirements that reviewers should focus more on immediate risks to a bank's financial health and less on process and procedural issues.
The Bank of France projects first-quarter economic growth of 0.2%-0.3%.
The Bank of France said on Wednesday that the outlook for French economic growth improved at the start of the year, with businesses reporting a stronger-than-expected rebound in business activity, and hinted that this momentum would continue into the coming months. The Bank of France expects France, the eurozone's second-largest economy, to grow by 0.2%-0.3% this quarter, up from 0.2% in the previous three months. The Bank of France made these forecasts in its latest monthly business confidence survey. The survey showed that despite continued uncertainty stemming from global trade tensions, confidence among businesses in the industrial, services, and construction sectors strengthened as February began.
The Israeli Prime Minister reportedly made a request to Trump: the agreement with Iran should not have an expiration date.
It was learned on February 11th local time that Israeli Prime Minister Benjamin Netanyahu reportedly conveyed a message to US President Donald Trump during his visit to the United States, stating that any agreement reached with Iran must not have an expiration date and should ensure that Iran can never acquire nuclear weapons. On February 11th local time, Israeli Prime Minister Netanyahu met with US President Trump. Before departing, Netanyahu stated that he would present Israel's so-called "principled position" on the Iran issue to the US side, emphasizing that these principles "not only concern Israel, but also all countries that hope to achieve peace and security." (CCTV News)
The Congressional Budget Office projects a federal budget deficit of $1.9 trillion for fiscal year 2026.
On February 11 local time, the U.S. Congressional Budget Office released the Executive Summary of its "Budget and Economic Outlook 2026-2036". The report shows that, under the assumption that current tax and spending laws remain largely unchanged, the U.S. federal budget deficit is projected to be $1.9 trillion in fiscal year 2026, representing 5.8% of GDP; by 2036, the deficit will expand to $3.1 trillion, accounting for 6.7% of GDP. Regarding debt, publicly held federal debt will reach 101% of GDP in 2026, rising to 120% by 2036, exceeding the historical high of 106% set in 1946. The economic outlook section shows that real GDP growth will be 2.2% in 2026, subsequently slowing to an average of 1.8% between 2027 and 2036. (CCTV News)
The latest polls show that the US president's approval ratings have both fallen on governance and immigration issues.
A recent poll shows that US President Trump's approval rating on immigration and border security has declined significantly, falling to the same level as his overall governance approval rating. Overall, following the shooting deaths of two US citizens by immigration enforcement officers in Minnesota, 60% of respondents expressed "some degree or strong dissatisfaction" with Trump's performance on immigration, while 40% expressed support. The poll shows that 49% of adult respondents "strongly disapprove" of Trump's handling of border security and immigration, a significant increase from 38% in the summer of 2025 and 34% in April 2025. Meanwhile, Trump's overall governance approval rating has fallen to 39%, roughly equivalent to his approval rating on immigration, a further decline from 42% in December 2025. (CCTV News)
Chinese scientists have successfully built a quantum key distribution chip network.
Significant breakthroughs have been achieved in quantum chip and quantum network technologies. The international academic journal *Nature* published online in the early hours of February 12th a new finding: Chinese scientists have successfully constructed the world's first large-scale quantum key distribution network based on integrated optical quantum chips. This quantum network supports parallel communication among 20 chip users, with a networking range of up to 3,700 kilometers, achieving international leading levels in both chip user scale and networking capability. (Xinhua News Agency)
Central enterprises establish "AI+" embodied intelligent industry community
The Central State-Owned Enterprises (SOEs) "AI+" Embodied Intelligence Industry Consortium was recently established in Beijing. This move is another important deployment in the central SOEs' "AI+" special action, aiming to pool resources, connect the industrial chain, and foster a thriving application ecosystem to jointly promote industrial development. It was learned on February 11 that the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) recently convened a meeting to further deploy the central SOEs' "AI+" special action. At this meeting, the establishment ceremony of the central SOEs' "AI+" Embodied Intelligence Industry Consortium was held. It is understood that the central SOEs' "AI+" Embodied Intelligence Industry Consortium was jointly established by central SOEs, private enterprises, universities, research institutes, and other partners under the guidance and promotion of SASAC. In the next step, this industry consortium will focus on five key areas: strategic high-value scenario demonstration, high-quality dataset aggregation, tackling key core technologies in the industrial chain, collaborative creation of the industrial ecosystem, and industry-finance integration to empower the real economy. (Xinhua News Agency)
Key Focus Today
The IEA releases its monthly oil market report.
stock market
The Nasdaq and Dow Jones Industrial Average closed slightly lower on Wednesday, while the S&P 500 was essentially flat. A stronger-than-expected January jobs report eased concerns about the economy but also reinforced bets that the Federal Reserve might slow its pace of interest rate cuts.
The Dow Jones Industrial Average fell 0.13% to close at 50,121.40; the S&P 500 dipped slightly to close at 6,941.47; and the Nasdaq Composite fell 0.16% to close at 23,066.47.
Data shows that U.S. job growth in January far exceeded expectations, and the unemployment rate fell to 4.3%. Traders subsequently lowered their expectations for interest rate cuts; the CME FedWatch tool shows that the probability of keeping rates unchanged in June has climbed from 24.8% to 41%. The market is still betting on at least a 25 basis point rate cut in June.
Julia Hermann, global market strategist at New York Life Investments, said investors have "pretty well" digested the change in interest rate cut expectations, interpreting the strong jobs report as a positive for the economy. "The key is that the current hiring strength is just right—it demonstrates economic resilience without being so strong as to undermine market expectations for future Fed easing."
Of the 11 sectors in the S&P 500, eight closed higher. The energy sector led the gains, rising 2.6%; the consumer staples sector rose 1.4%. The financial services and communication services sectors both fell by more than 1%.
Technology stocks were mixed. Chip stocks surged, with the Philadelphia Semiconductor Index rising 2.3%. Software stocks fell 2.6%, ending a three-day winning streak, after last week's sell-off amid concerns about the disruptive potential of artificial intelligence. Software giant Microsoft fell 2.2%, becoming the biggest drag on the S&P 500; Google's parent company Alphabet fell 2.4%, putting pressure on the communications services sector.
Brokerage stocks weakened for the second consecutive day. Charles Schwab and Ameriprise Financial both fell more than 3%, while LPL Financial plunged 6%. This followed concerns raised by the launch of an AI-powered tax planning feature by startup Altruist. Robinhood suffered the biggest drop in the financial services sector, falling 8.9% after the retail brokerage's fourth-quarter revenue missed expectations.
IBM was the biggest loser in the Dow Jones Industrial Average, while Caterpillar was the biggest gainer, rising 4.4%, after Argus Research significantly raised its price target from $625 to $820.
Gold Market
Gold prices rose more than 1% on Wednesday, briefly giving back gains as the market digested a strong U.S. jobs report, but solid long-term buying pushed gold back into momentum.
Spot gold was quoted at $5,074.29 per ounce, up 1%, after earlier hitting a high of $5,118.47. U.S. gold futures settled up 1.3% at $5,098.50.
U.S. job growth unexpectedly accelerated in January, with the unemployment rate falling to 4.3%. Signs of stabilization in the labor market may provide the Federal Reserve with room to allow policymakers to keep interest rates unchanged for some time.
Independent metals trader Tai Wong said, "A strong jobs report won't shake the psychology behind gold buying, which is seen as long-term and fundamentally driven." He pointed out that gold prices are generally trending upwards at both high and low levels, and buying confidence remains strong against the backdrop of debt concerns and the narrative of "leaving US assets."
A survey indicates that the Federal Reserve will keep key interest rates unchanged for the remainder of Chairman Powell's term, but will then immediately cut rates in June. Economists surveyed also pointed out that the risk of overly accommodative Fed policy has increased under the leadership of his likely successor, Warsh. Investors are currently closely watching Friday's U.S. Consumer Price Index report.
Spot silver rose 4.6% to $84.39 an ounce; spot platinum rose 2.5% to $2,138.50; and palladium rose 0.8% to $1,722.06.
oil market
Oil prices rose more than 1% on Wednesday as investors worried about escalating tensions between Iran and the United States—the two countries are preparing to restart negotiations—while gains were limited by a report of a sharp increase in U.S. crude oil inventories last week.
Brent crude futures settled at $69.40 a barrel, up 0.87%. WTI crude rose nearly 1.05% to settle at $64.63 a barrel.
US President Donald Trump said on Wednesday that no final decision had been made during his meeting with Israeli Prime Minister Benjamin Netanyahu, but that negotiations with Iran would continue. On Tuesday, Trump had stated that he was considering sending a second aircraft carrier to the Middle East if an agreement could not be reached with Iran.
"The escalating tensions between the US and Iran, and the seemingly intractable negotiations between the two sides, are providing support for oil prices," said Andrew Lipow, president of Lipow Oil Associates.
PVM Oil Associates analyst Tamas Varga noted, "Despite the occasional hardline rhetoric from both sides, there are no signs of escalation so far, and the US president believes that Iran will eventually seek an agreement on its nuclear missile program."
Data from the U.S. Department of Labor showed that U.S. job growth unexpectedly accelerated in January, with the unemployment rate falling to 4.3%, and the healthy economic situation also provided support for oil prices.
Data from the U.S. Energy Information Administration showed that U.S. crude oil inventories rose by 8.5 million barrels to 428.8 million barrels last week, far exceeding the survey's expectation of a 793,000-barrel increase, which limited the rise in oil prices.
The Organization of the Petroleum Exporting Countries (OPEC) predicts that global demand for oil from the OPEC+ alliance will decrease by 400,000 barrels per day in the second quarter, and its data also indicates a slight surplus for the quarter. OPEC+ is about to make a crucial decision on resuming production increases.
Foreign exchange market
The dollar rose against the euro and the Swiss franc on Wednesday after unexpectedly strong U.S. jobs data for January showed a robust economic foundation, supporting the Federal Reserve's decision to continue holding off on further interest rate cuts.
The U.S. added 130,000 jobs in January, far exceeding the expected 70,000; the unemployment rate fell from 4.4% to 4.3%. Following the data release, the market's expectation that the Federal Reserve would maintain interest rates at its next meeting rose from 80% the previous day to 94%.
The dollar rose 0.42% against the Swiss franc to 0.7711. The euro fell 0.18% against the dollar to $1.1874.
Joel Kruger, market strategist at LMAX Group, said: "The dollar strengthened on a much stronger-than-expected jobs report and corporate earnings. The data weakened but did not eliminate market expectations of a Fed rate cut in June, and risk assets rose in tandem, putting the dollar in a near-optimal position with the market."
Marc Chandler, chief market strategist at Bannockburn Global Forex, noted: "The market remains skeptical of the dollar, but acknowledges that its expectations were misguided before the jobs data release. The market still expects a 50 basis point rate cut this year, and the probability of a June rate cut has fallen from 97% to about 70%."
The yen continued to strengthen. The dollar fell 0.75% against the yen to 153.22 yen, marking its third consecutive day of decline. The yen rose nearly 1% against the euro to 181.905 yen.
TS Lombard analyst Freya Beamish said that in addition to Prime Minister Sanae Takashi's overwhelming election victory, the yen's strength will be further consolidated by the following factors: unexpectedly low inflation data, continued capital outflows from US tech stocks, the start of budget negotiations in the coming weeks, and the normalization of Japanese hedge yields with global levels.
The Australian dollar rose to its highest level since February 2023, gaining 0.69% to US$0.71235 in late New York trading, after touching US$0.71430 earlier in the session. Reserve Bank of Australia Deputy Governor Hauser stated that inflation was too high and policymakers would take all necessary measures to control it. The pound fell 0.14% to US$1.36215. The US dollar index remained unchanged at 96.92.
International News
US officials say the Department of Defense is preparing to deploy a second carrier strike group to the Middle East.
On February 11 local time, three US officials revealed that the US Department of Defense has instructed a second carrier strike group to prepare for deployment to the Middle East as the US military prepares for a possible attack on Iran. US President Trump had previously stated that he was considering sending a second carrier strike group to the Middle East in preparation for military action should negotiations with Iran fail. One US official stated that the deployment order could be issued within hours, but Trump has not yet formally given the order, and the plan is subject to change. Another official stated that the US Department of Defense is preparing to deploy a carrier strike group within two weeks, most likely from the US East Coast. (CCTV)
Zelensky denied announcing election plans in the near future, reiterating that "an election can be held as long as there is a ceasefire."
Ukrainian President Volodymyr Zelenskyy has refuted rumors that he will announce the presidential election date on February 24, emphasizing that elections can only be held if there are sufficient security guarantees. He also denied reports that the United States threatened to withdraw its security guarantees if Ukraine did not announce an election date. Zelenskyy stated that some of Ukraine's partners had raised the issue of elections, but Ukraine had never brought it up itself. He reiterated that Ukraine is ready for elections and clearly stated, "As long as there is a ceasefire, elections can be held." This statement directly links the election process to achieving a ceasefire, reflecting that, against the backdrop of the ongoing Russia-Ukraine conflict, Ukraine still considers security guarantees and the implementation of a ceasefire as prerequisites for initiating its domestic political agenda.
Iranian Foreign Minister reiterated that an agreement on a peaceful nuclear program is possible.
On March 11, local time, Iranian Foreign Minister Araqchi stated on his personal social media that he sincerely hopes the coming year will be a year of peace and tranquility, with dialogue replacing war. Diplomacy is the preferred option, and an agreement on Iran's peaceful nuclear program is possible, but only if it is fair and balanced. Iran will defend its sovereignty at all costs. Araqchi stated, "Our rights and dignity are not to be traded."
The Federal Reserve signals to the banking industry its intention to lift some of its regulatory warnings.
As Vice Chairman Bowman, responsible for supervision, continues to ease central bank oversight of U.S. financial institutions, the Federal Reserve has signaled to the banking industry its intention to rescind some previously issued, non-public rectification warnings. Sources familiar with the matter revealed that Fed regulators informed several banks across the country earlier this month that reviewers would begin reassessing unresolved warnings—non-public instructions requiring banks to fix deficiencies. Warnings will be rescinded if they do not meet the Fed's recent requirements that reviewers should focus more on immediate risks to a bank's financial health and less on process and procedural issues.
The Bank of France projects first-quarter economic growth of 0.2%-0.3%.
The Bank of France said on Wednesday that the outlook for French economic growth improved at the start of the year, with businesses reporting a stronger-than-expected rebound in business activity, and hinted that this momentum would continue into the coming months. The Bank of France expects France, the eurozone's second-largest economy, to grow by 0.2%-0.3% this quarter, up from 0.2% in the previous three months. The Bank of France made these forecasts in its latest monthly business confidence survey. The survey showed that despite continued uncertainty stemming from global trade tensions, confidence among businesses in the industrial, services, and construction sectors strengthened as February began.
The Israeli Prime Minister reportedly made a request to Trump: the agreement with Iran should not have an expiration date.
It was learned on February 11th local time that Israeli Prime Minister Benjamin Netanyahu reportedly conveyed a message to US President Donald Trump during his visit to the United States, stating that any agreement reached with Iran must not have an expiration date and should ensure that Iran can never acquire nuclear weapons. On February 11th local time, Israeli Prime Minister Netanyahu met with US President Trump. Before departing, Netanyahu stated that he would present Israel's so-called "principled position" on the Iran issue to the US side, emphasizing that these principles "not only concern Israel, but also all countries that hope to achieve peace and security." (CCTV News)
The Congressional Budget Office projects a federal budget deficit of $1.9 trillion for fiscal year 2026.
On February 11 local time, the U.S. Congressional Budget Office released the Executive Summary of its "Budget and Economic Outlook 2026-2036". The report shows that, under the assumption that current tax and spending laws remain largely unchanged, the U.S. federal budget deficit is projected to be $1.9 trillion in fiscal year 2026, representing 5.8% of GDP; by 2036, the deficit will expand to $3.1 trillion, accounting for 6.7% of GDP. Regarding debt, publicly held federal debt will reach 101% of GDP in 2026, rising to 120% by 2036, exceeding the historical high of 106% set in 1946. The economic outlook section shows that real GDP growth will be 2.2% in 2026, subsequently slowing to an average of 1.8% between 2027 and 2036. (CCTV News)
The latest polls show that the US president's approval ratings have both fallen on governance and immigration issues.
A recent poll shows that US President Trump's approval rating on immigration and border security has declined significantly, falling to the same level as his overall governance approval rating. Overall, following the shooting deaths of two US citizens by immigration enforcement officers in Minnesota, 60% of respondents expressed "some degree or strong dissatisfaction" with Trump's performance on immigration, while 40% expressed support. The poll shows that 49% of adult respondents "strongly disapprove" of Trump's handling of border security and immigration, a significant increase from 38% in the summer of 2025 and 34% in April 2025. Meanwhile, Trump's overall governance approval rating has fallen to 39%, roughly equivalent to his approval rating on immigration, a further decline from 42% in December 2025. (CCTV News)
Domestic News
Chinese scientists have successfully built a quantum key distribution chip network.
Significant breakthroughs have been achieved in quantum chip and quantum network technologies. The international academic journal *Nature* published online in the early hours of February 12th a new finding: Chinese scientists have successfully constructed the world's first large-scale quantum key distribution network based on integrated optical quantum chips. This quantum network supports parallel communication among 20 chip users, with a networking range of up to 3,700 kilometers, achieving international leading levels in both chip user scale and networking capability. (Xinhua News Agency)
Central enterprises establish "AI+" embodied intelligent industry community
The Central State-Owned Enterprises (SOEs) "AI+" Embodied Intelligence Industry Consortium was recently established in Beijing. This move is another important deployment in the central SOEs' "AI+" special action, aiming to pool resources, connect the industrial chain, and foster a thriving application ecosystem to jointly promote industrial development. It was learned on February 11 that the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) recently convened a meeting to further deploy the central SOEs' "AI+" special action. At this meeting, the establishment ceremony of the central SOEs' "AI+" Embodied Intelligence Industry Consortium was held. It is understood that the central SOEs' "AI+" Embodied Intelligence Industry Consortium was jointly established by central SOEs, private enterprises, universities, research institutes, and other partners under the guidance and promotion of SASAC. In the next step, this industry consortium will focus on five key areas: strategic high-value scenario demonstration, high-quality dataset aggregation, tackling key core technologies in the industrial chain, collaborative creation of the industrial ecosystem, and industry-finance integration to empower the real economy. (Xinhua News Agency)
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