TLDR
- A coordinated U.S.-Israeli military operation against Iran over the weekend has introduced fresh geopolitical risk into financial markets
- Major indices including the S&P 500, Nasdaq 100, and Dow closed lower for the week; Bitcoin retreated to the $66,000 level as gold advanced to $2,596
- The February employment report releases Friday; January’s data revealed 130,000 new jobs, substantially exceeding analyst estimates
- Significant earnings releases include Broadcom, CrowdStrike, Costco, and Target
- Apple begins rolling out new product announcements Monday, with a dedicated event planned for Wednesday
Equity markets finished the week in negative territory as technology and entertainment stocks experienced significant volatility. The S&P 500 registered losses for the trading day, the week, and the entire month of February.
The Nasdaq 100 similarly declined, while the Dow Jones retreated 1.05%. The benchmark 10-year Treasury yield pulled back to 3.95%.
Bitcoin descended toward the $66,000 threshold as the week concluded. Gold appreciated to $2,596 per ounce and crude oil advanced to $67.29 per barrel.
During the weekend, American and Israeli forces executed a coordinated military operation targeting Iran. President Trump issued calls for regime change in Iran, prompting Iranian counterstrikes against Israeli and Gulf state targets.
Crude oil prices had already been climbing throughout the week on escalating Iranian tensions. Additional conflict could drive energy prices higher, with ripple effects across energy producers, transportation companies, and defense contractors.
Jobs Report in Focus
The February employment situation report arrives Friday. January’s report demonstrated that employers added 130,000 positions, more than doubling economist projections.
Nevertheless, that report included downward revisions to previous months, indicating that early 2025 job creation was softer than initially calculated. The Federal Reserve maintains its benchmark rate in the 3.5% to 3.75% range while markets monitor for indications of labor market softening.
The unemployment rate is anticipated to hover near 4.4%. A weaker reading could revive speculation about potential rate reductions in March or May.
The postponed January retail sales data also publishes Friday. December figures indicated consumer spending had stagnated at year-end, with sluggish employment growth identified as a contributing factor.
Earnings Season Continues
Broadcom delivers results Wednesday with analysts projecting approximately $19.22 billion in quarterly revenue. During December, management indicated AI-related revenue would experience a doubling during the period.
CrowdStrike announces results Tuesday. Software sector stocks have faced headwinds from concerns regarding AI-driven disruption, although certain analysts view artificial intelligence as a catalyst for cybersecurity company expansion.
Marvell Technology follows on Thursday. Market participants will scrutinize AI semiconductor demand following Nvidia’s impressive quarter featuring $68.1 billion in Q4 revenue.
Target reports Tuesday under newly appointed CEO Michael Fiddelke, who assumed the role last month. Target’s stock price has rebounded this year following a challenging 2025.
Costco delivers results Thursday. The warehouse retailer’s shares have similarly strengthened in 2026 after a difficult prior year.
Netflix shares surged 13.82% during the previous week after Warner Bros. Discovery accepted a $31-per-share proposal from Paramount Skydance, rejecting Netflix’s competing bid. Netflix declined to increase its offer.
Apple is anticipated to unveil new products beginning Monday, potentially including the iPhone 17 and an entry-level MacBook. A dedicated announcement event is confirmed for Wednesday.
The Fed’s Beige Book publishes Wednesday in advance of the central bank’s March 17-18 policy meeting.
Marvell Technology’s quarterly results are scheduled for Thursday, March 5.
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