This week presents a pivotal moment for global markets as they prepare for a series of significant economic data releases and corporate earnings that could influence trading in stocks, precious metals, and cryptocurrencies. Following a recent ruling by the Supreme Court that curtailed the president”s authority to impose widespread tariffs, companies reliant on imports are bracing for potential refund claims that could amount to $175 billion. The White House has indicated plans to introduce a new 10% global tariff under Section 122 of the Trade Act of 1974.
On Tuesday, the Conference Board is set to release new sentiment data, with expectations pointing to a rise from 84.5 to 88.0. This data comes amid inflation rates that remain above the Federal Reserve”s target of 2%, as highlighted by the latest Personal Consumption Expenditures (PCE) report, which noted a 0.4% increase in both headline and core readings for December.
Throughout the week, several critical data points will be unveiled. The Producer Price Index (PPI) scheduled for Friday is particularly noteworthy, anticipated to show a month-on-month increase of 0.3%, following a previous figure of 0.5%. Year-over-year, the PPI was recorded at 3.0%. The core PPI has similarly shown month-on-month growth of 0.3% and a year-on-year increase of 3.3% in the last report.
In addition to PPI data, the final durable goods reading for December showed a decline of 1.4%. Other metrics include regional manufacturing indices from the Dallas and Richmond Federal Reserve, which recorded figures of minus 1.2 and minus 6, respectively, indicating contraction in manufacturing activities.
Thursday will provide more labor market data, with initial jobless claims for the preceding week reported at 219,000 and continuing claims reaching 1.87 million. The Kansas City Federal Reserve manufacturing index is at zero, while the MNI Chicago Purchasing Managers Index (PMI) is expected to come in at 52.5, down from 54.0.
Amid this economic backdrop, Nvidia is set to announce its Q4 2025 earnings on Wednesday. In its previous quarter, the company reported a staggering $57.01 billion in revenue, surpassing forecasts by over $2 billion. Earnings per share stood at 1.30, slightly above the expected 1.26. Revenue from the Data Center segment soared to $51.2 billion, marking a 66% increase year-on-year, while networking revenue also more than doubled to $8.2 billion. However, Nvidia”s inventory has surged by 32% to $19.8 billion, and sales in China have declined amid export restrictions.
Nvidia”s CEO, Jensen Huang, indicated that sales of the H20 chip were near $50 million, attributing this to the lack of large orders from China. He has cautioned that he anticipates zero data-center compute revenue from China in the Q4 guidance. Furthermore, Huang hinted at groundbreaking new chips to be unveiled at Nvidia”s GTC 2026 event, scheduled to start on March 16, although details remain scarce.
As of February 18, Nvidia”s stock closed at $187.98, reflecting a marginal year-to-date increase of less than 1%. Current prediction markets suggest a 70.5% chance of NVDA closing above $180 by the end of February and a 24% chance of reaching $200.
Adding to market dynamics this week, officials from the Federal Reserve are scheduled to deliver 11 speeches, providing insights into their views on inflation, employment, and economic growth.
In this busy week, investors in the cryptocurrency space should remain vigilant, as these economic indicators and corporate earnings announcements are likely to have ripple effects across various asset classes, including digital currencies.
