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Today's Summary

Pending Home Sales Decreased 0.8% in January. Delinquency rate of subprime auto-loan ABS hit a new high. Business conditions at architecture firms remained soft to start 2026. Wolf Richter: Despite retail piling in, the indexes have not managed to break out to new highs. Now is the time for a risk-managed, cautious approach. Government spending plunged by 16.6% as a result of the longest government shutdown in history. Nondefense spending collapsed by 24.1% and Defense spending plunged 10.8%. Real solution to housing problem is to end single family zoning of lots California statewide like in Oregon. Workday shares fell in extended trading on Tuesday after the company fell short with its guidance for the new fiscal year. EJ Antoni: Dont smear data sources without understanding the data. Barry L. Ritholtz is the co-founder, chairman, and chief investment officer of Ritholz Wealth Management LLC. He says annual sales were down fractionally in 2025 compared to 2024, making sales in 2025 the lowest since 1995. Hilary Allen: We need broader public policies to address that economic precarity. Chicago and New York led all markets with gains above 5%, while Tampa, Phoenix, Dallas, and Miami posted the steepest declines. Canada cut tariffs on Chinese-made electric vehicles as part of a trade deal with the U.S. Bitcoins dip under $65k pushes crypto liquidations to $500m - decrypt. Bitdeer sold about 1,132.9 BTC in total, 943.1 from reserves plus 189.8 newly mined. Police say victims were contacted via social media with invitations to invest in crypto or shares and then urged to transfer funds through an online portal called “NEXOpayment.” Brazil cuts Bitcoin miner import duty to zero. Bitcoin continues to trade in contested $60,000 to $69,000 region, with sharp intraday swings but no decisive break. Bitcoin is down by almost 20% this month, which is its largest monthly drawdown since June 2022. State Department imposes sanctions under the Protecting American Intellectual Property Act. Zelenyuk and Operation Zero are first individuals sanctioned under that statute. On-chain data shows Vitalik Buterin has sold thousands of ETH in recent days. Bitcoin briefly fell below $63,000 on Tuesday as “extreme fear” gripped crypto markets. Step Finance preparing a token buyback for holders based on a pre-exploit snapshot, with the tokens price down 40% over the past 24 hours. Oil traders bet on risk as diplomacy yields little. ICE Brent continues to hover around $72 per barrel, brushing aside macroeconomic concerns. U.S. crude oil inventories in the United States rose by 11.4 million barrels in the week ending February 20. At 4:14 pm ET, Brent crude was trading down on the day at $71.40 (-0.13%)