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Forex Signals Feb 23: NVIDIA, Home Depot, HSBC, Salesforce, Dell, CRWV Earnings Preview
This week’s earnings is headlined by NVIDIA (NVDA), Home Depot (HD), HSBC, Salesforce (CRM), Dell (DELL), Snowflake (SNOW), and CRWV...
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Last updated: Monday, February 23, 2026
Quick overview
- This week's earnings calendar features major companies like NVIDIA, Home Depot, and Salesforce, which could significantly impact market sentiment.
- Recent U.S. GDP data missed expectations, raising concerns about economic momentum while inflation pressures complicate the Federal Reserve's policy decisions.
- President Trump's announcement of new global tariffs adds uncertainty to trade dynamics, potentially affecting the U.S. dollar and market reactions.
- The upcoming earnings reports from tech giants are crucial, as strong results could boost market confidence, while disappointments may lead to increased volatility.
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MARKETS TREND
This week’s earnings calendar is headlined by NVIDIA (NVDA), Home Depot (HD), HSBC, Salesforce (CRM), Dell (DELL), Snowflake (SNOW), and CoreWeave (CRWV), with several trillion-dollar and large-cap names set to influence broader market sentiment.
Last week Despite a volatile trading session marked by weak GDP data and renewed tariff headlines, the Dow Jones Industrial Average continued to track within its broader upward trajectory. While intraday swings reflected investor uncertainty, the index showed resilience relative to the macro noise.
GDP Miss and Inflation Dilemma
The session began with a notable downside miss in U.S. GDP, reinforcing concerns that economic momentum may be slowing. The weaker print followed disappointing trade data earlier in the week and comments from President Trump referencing the economic drag from the government shutdown.
However, the softer growth figures were accompanied by firmer PCE inflation data. This combination complicates the Federal Reserve’s policy path. Slower growth would typically justify rate cuts, but persistent inflation pressures argue for patience. The U.S. dollar traded choppily as markets reassessed expectations for future Fed moves.
Section 122 Tariffs Raise New Questions
Adding to uncertainty, President Trump announced the implementation of Section 122 global tariffs of 15% over the weekend, following a recent Supreme Court ruling against certain individual tariffs. The rarely used statute is limited to 150 days but may pave the way for broader trade investigations over the next six months.
The immediate reaction saw the U.S. dollar weaken, as traders debated potential shifts in trade dynamics and global capital flows. Legal challenges remain likely, leaving markets in a wait-and-see posture.
Key Market Events to Watch This Week:
This earnings week carries outsized importance, particularly with NVIDIA at the center of AI-driven equity momentum. Strong results across tech and enterprise names could reinforce risk appetite and extend market gains. However, any disappointment—especially from mega-cap leaders—may trigger volatility across indices. With trillion-dollar companies reporting, market direction in the near term may hinge on guidance as much as headline numbers.
🔹 NVIDIA Corporation (NVDA)
- Report: Q4 2026 Earnings
- Timing: After Market Close (AMC)
- Expected EPS: 1.53
- Market Cap: ~$4.62 trillion
Focus Areas:
- AI data center revenue growth
- GPU demand sustainability
- Margins and forward guidance
- Commentary on hyperscaler spending
- NVDA remains the most systemically important stock for AI-driven market momentum.
- Any upside surprise or strong guidance could reignite tech-led rallies.
- A miss could pressure broader semiconductor and Nasdaq sentiment.
🔹 The Home Depot, Inc. (HD)
- Report: Q4 2025 Earnings
- Timing: Before Market Open (BMO)
- Expected EPS: 3.04
- Market Cap: ~$380.5 billion
Focus Areas:
- Consumer spending trends
- Housing market sensitivity
- Same-store sales growth
- Inventory and margin control
- A key read-through on U.S. consumer resilience.
- Offers insight into housing activity and discretionary demand.
🔹 HSBC Holdings plc (HSBC)
- Report: Q4 2025 Earnings
- Timing: Before Market Open (BMO)
- Market Cap: ~$302.6 billion
Focus Areas:
- Net interest margins
- Asia exposure performance
- Capital return plans
- Credit quality trends
- Provides insight into global banking conditions and emerging market exposure.
- Sensitive to rate expectations and geopolitical developments.
🔹 Salesforce, Inc. (CRM)
- Report: Q4 2026 Earnings
- Timing: After Market Close (AMC)
- Expected EPS: 3.05
- Market Cap: ~$176.3 billion
Focus Areas:
- Enterprise software demand
- AI integration across products
- Subscription growth
- Margin expansion trajectory
- CRM’s results will gauge enterprise IT spending and AI monetization trends.
🔹 Dell Technologies Inc. (DELL)
- Report: Q4 2026 Earnings
- Timing: After Market Close (AMC)
- Expected EPS: 3.53
- Market Cap: ~$81.9 billion
Focus Areas:
- AI server demand
- Corporate hardware refresh cycles
- Margin trends
- Closely tied to enterprise infrastructure and AI hardware momentum.
🔹 Snowflake Inc. (SNOW)
- Report: Q4 2026 Earnings
- Timing: After Market Close (AMC)
- Expected EPS: 0.27
- Market Cap: ~$59.0 billion
Focus Areas:
- Cloud consumption growth
- Large enterprise client expansion
- Profitability trajectory
- A bellwether for cloud data and analytics demand.
🔹 CoreWeave, Inc. (CRWV)
- Report: Q4 2025 Earnings
- Timing: After Market Close (AMC)
- Expected EPS: -0.68
- Market Cap: ~$46.5 billion
Focus Areas:
- AI infrastructure expansion
- Capital expenditure trends
- Path to profitability
- A high-beta AI infrastructure play; results could influence speculative tech flows.
Why This Week Matters
- Multiple AI-linked names reporting in the same week increases volatility risk.
- Mega-cap guidance could influence broader S&P 500 and Nasdaq direction.
- Consumer and banking data points (HD and HSBC) provide macro cross-checks.
- Forward guidance will likely matter more than headline EPS beats.
Gold Reclaims $5,000
Although demand for safe haven assets is still high, gold fell precipitously from record highs following the Fed’s most recent rate cut comments, as profit-taking was prompted by Powell’s cautious tone. In December, gold jumped above $4.3800 following the Federal Reserve’s announcement of a 25 basis point rate decrease. But the impetus soon waned, and prices dropped back to $4,004. The 20 daily SMA (gray) held as support last week and buyers returned and pushed XAU above the $5,000 mark for the first time, printing a fresh record high at $5,598 before retreating below $5,000. But buyers returned and XAU climbed above $5,000 again.
USD/JPY Returns Back Down
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED. The price approached $160 but reversed after the BOJ meeting and fell 8 cents but found support at $152 at the 100 daily SMA (red) and rebounded above 156 but have reversed down again this week after the Japanese elections.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Returns Under $70K
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down to $80K before finding support at the 100 weekly SMA (green). A rebound followed, sending BTC near $100 is the first major text for Bitcoin buyers. However BTC returned lower and fell below $80K, breaking below the but the 100 weekly SMA (green) but the decline stopped at the $60K support where the 200 weekly SM A(purpe) stands and rebounded above $70K.
BTC/USD – Weekly Chart
Ethereum Slips Below $2,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2,000 but buyers returned n d pushed the price above $2K again.
ETH/USD – Weekly Chart
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ABOUT THE AUTHOR
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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