Robertson Stephens Weekly Commentary – February 9, 2026

Data releases from the Bureau of Labor Statistics (BLS) — and from the Bureau of Economic Analysis (BEA), which uses BLS economists and staffers to prepare some of its data — continue to be erratic and uncertain. Over the next few months, the market is navigating a delicate balance of a strong economy, soft labor market conditions, AI disruption vs. destruction, and a Fed pause. The narrative centers on a near-perfect outcome: a soft landing, strong earnings growth, AI capex that both boosts productivity and generates revenue, and a tailwind from last year’s three rate cuts and the steepening yield curve. On the wealth planning front, we discuss how young adults are navigating the job market in 2026.