{"id":7016,"date":"2026-02-21T08:54:29","date_gmt":"2026-02-21T08:54:29","guid":{"rendered":"https:\/\/getleveraged.com\/?post_type=reviews&#038;p=7016"},"modified":"2026-02-21T09:21:25","modified_gmt":"2026-02-21T09:21:25","slug":"21-2-26","status":"publish","type":"reviews","link":"https:\/\/getleveraged.com\/uz\/reviews\/21-2-26\/","title":{"rendered":"21.2.26"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Closing Recap<\/h2>\n\n\n\n<iframe data-testid=\"embed-iframe\" style=\"border-radius:12px\" src=\"https:\/\/open.spotify.com\/embed\/episode\/1OKR13UahTWlvhEf2TM3h2?utm_source=generator&#038;t=0\" width=\"100%\" height=\"352\" frameBorder=\"0\" allowfullscreen=\"\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\"><\/iframe>\n\n\n\n<p>Friday delivered a barrage of market-moving headlines, headlined by a significant miss in U.S. GDP and a monumental Supreme Court ruling against President Trump\u2019s global tariffs. Despite a &laquo;stagflationary&raquo; data mix &#8211; where Q4 GDP slowed sharply to 1.4% while Core PCE inflation accelerated to 3.0% &#8211; U.S. equities managed a relief rally. The S&amp;P 500 (+0.69%) and Nasdaq (+0.90%) pushed higher as markets brushed off Trump&#8217;s afternoon press conference detailing alternative tariff plans. In commodities, safe-haven flows dominated; <strong>Gold<\/strong> surged past $5,080 on US-Iran geopolitical fears and trade uncertainty, while <strong>Bitcoin<\/strong> remained a laggard, struggling near $68k amidst record ETF outflows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Takeaways (The Week in 60 Seconds)<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Supreme Court Blocks Tariffs:<\/strong> In a 6-3 decision, the Court ruled Trump exceeded his authority under a 1977 emergency law, declaring tariffs a core legislative taxing power.<\/li>\n\n\n\n<li><strong>Stocks Rise Despite Stagflation Signals:<\/strong> U.S. indices finished the week higher (S&amp;P 500 +0.69%, Nasdaq +0.90%) despite a worrying mix of weak growth and sticky inflation. The S&amp;P 500 managed to brush off a significant GDP miss and hot PCE data, buoyed by a late-week relief rally.<\/li>\n\n\n\n<li><strong>Stagflationary Data:<\/strong> Q4 GDP printed at a weak 1.4% (dragged down 120bps by the government shutdown), but Core PCE inflation ran hot at 3.0% YoY, complicating the Fed&#8217;s easing path.<\/li>\n\n\n\n<li><strong>Rate Cuts Priced Out:<\/strong> The hot inflation print forced markets to reassess; a July Fed rate cut has now fallen below 100% pricing.<\/li>\n\n\n\n<li><strong>Historic Sector Divergence:<\/strong> Every S&amp;P 500 Software stock is below its 200-day moving average, while 89% of Semiconductors are above it &#8211; the widest gap on record.<\/li>\n\n\n\n<li><strong>Gold Shines:<\/strong> Gold jumped $83.50 (+1.67%) to $5,080.90, bolstered by US-Iran strike fears and trade uncertainty.<\/li>\n\n\n\n<li><strong>Silver Surges:<\/strong> XAG\/USD is up over +7% for the week, pressing near $84.60 on safe-haven flows.<\/li>\n\n\n\n<li><strong>Bitcoin ETF Exodus:<\/strong> Spot Bitcoin ETF balances have posted their largest drawdown on record (down ~100.3k BTC since October).<\/li>\n\n\n\n<li><strong>Nvidia Earnings on Deck:<\/strong> All eyes shift to NVDA&#8217;s Q4 report next Wednesday as the ultimate test for the AI bull market.<\/li>\n\n\n\n<li><strong>Week Ahead Focus &#8211; Nvidia &amp; Inflation:<\/strong> The focus shifts to the AI trade with <strong>Nvidia Earnings (Wed)<\/strong>, alongside critical <strong>Australian CPI (Wed)<\/strong> and <strong>Tokyo Inflation (Fri)<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Looking Ahead<\/h2>\n\n\n\n<p>The &laquo;vibe&raquo; for next week is defined by <strong>AI Validation and Trade War &laquo;Plan B.&raquo;<\/strong> The Supreme Court may have blocked Trump&#8217;s emergency tariffs, but the White House is already floating backups (using 1930\/1974 Trade Acts). This promises sustained volatility for the Dollar and global importers. However, macro noise will take a backseat on Wednesday when <strong>Nvidia reports earnings<\/strong>, serving as the ultimate litmus test for a heavily divided tech sector.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Weekly Market Narrative: The Court, The Fed, and The Stagflation Threat<\/h2>\n\n\n\n<p>Wall Street navigated a minefield of news this week to finish in the green. Friday\u2019s session was defined by a massive divergence in economic data: Q4 GDP missed badly at 1.4% (blamed on the shutdown), while the Fed&#8217;s preferred inflation gauge, Core PCE, accelerated to 3.0%. Typically, this &laquo;stagflationary&raquo; mix would hammer stocks, but the market found a lifeline in the Supreme Court.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>Index<\/td><td>Last Closing Level<\/td><td>Daily Change<\/td><td>Daily Change %<\/td><td>Weekly Trend<\/td><\/tr><tr><td>DJ Industrials<\/td><td>49625<\/td><td>230.81<\/td><td>0.0047<\/td><td>Neutral<\/td><\/tr><tr><td>S&amp;P 500<\/td><td>6909<\/td><td>47.61<\/td><td>0.0069<\/td><td>Bullish<\/td><\/tr><tr><td>Nasdaq<\/td><td>22886<\/td><td>203.34<\/td><td>0.009<\/td><td>Bullish<\/td><\/tr><tr><td>Russell 2000<\/td><td>2663<\/td><td>-1.31<\/td><td>-0.0005<\/td><td>Flat<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The Court&#8217;s ruling that President Trump exceeded his authority with national emergency tariffs removed a major layer of uncertainty for the global economy. Although Trump mentioned &laquo;backup plans&raquo; involving other trade acts (Sec 301, 232), the market treated the ruling as a net positive for risk sentiment and a negative for the Dollar. Meanwhile, the &laquo;AI trade&raquo; continues to hold up the broader market, even as Bank of America warns that the S&amp;P 500 remains expensive on 18 of 20 metrics. Bank of America warns the S&amp;P 500 remains expensive across 18 of 20 valuation metrics. The internal market dynamics are unprecedented: Software indices are down 30% since November, trading at decade-low valuations, while Semiconductors sit near all-time highs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Economic Data Calendar: February 16 \u2013 20, 2026<\/h2>\n\n\n\n<p>After a week dominated by macro data and legal rulings, the spotlight turns to corporate earnings and international inflation prints.<\/p>\n\n\n\n<p><strong>MON (Feb 23): Eurozone Sentiment<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>German Ifo Business Climate:<\/strong> A key sentiment check for the Eurozone economy.<\/li>\n<\/ul>\n\n\n\n<p><strong>TUE (Feb 24): China Returns &amp; US Consumer Confidence<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>PBoC Loan Prime Rate (LPR):<\/strong> China is expected to keep benchmark rates unchanged (3.00% and 3.50%), prioritizing liquidity operations over rate cuts.<\/li>\n\n\n\n<li><strong>US Consumer Confidence:<\/strong> Will the weak GDP and high inflation dent consumer morale?<\/li>\n<\/ul>\n\n\n\n<p><strong>WED (Feb 25): Nvidia Earnings &amp; Australian CPI<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Nvidia Earnings (Q4):<\/strong> <strong>The Main Event.<\/strong> Consensus expects revenue of $65.69B. With software stocks crashing, the entire tech sector is relying on Nvidia to confirm the AI hardware boom is still accelerating.<\/li>\n\n\n\n<li><strong>Australian CPI (Jan):<\/strong> Critical for the RBA. After recent rate hikes, a hot number (above 3.8%) would force the RBA to remain hawkish.<\/li>\n\n\n\n<li><strong>US ADP Employment:<\/strong> A precursor to the next NFP report.<\/li>\n<\/ul>\n\n\n\n<p><strong>THU (Feb 26): UK Politics &amp; BoK<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>UK By-Election (Gorton &amp; Denton):<\/strong> A political test for PM Starmer. A Labour loss could trigger leadership turmoil, weighing on the Pound.<\/li>\n\n\n\n<li><strong>Bank of Korea Decision:<\/strong> Expected to hold rates at 2.50%.<\/li>\n<\/ul>\n\n\n\n<p><strong>FRI (Feb 27): Tokyo CPI<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tokyo CPI (Feb):<\/strong> A leading indicator for Japanese inflation. Further slowing (expected 1.5%) could dampen bets on a near-term BoJ hike, pressuring the Yen.<\/li>\n\n\n\n<li><strong>US PCE (Jan):<\/strong> <em>Note: Delayed release schedule may apply.<\/em><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Asset Class Spotlight: Commodities, Currencies, Crypto &amp; Treasuries<\/h2>\n\n\n\n<p><strong>Precious Metals<\/strong> are acting as the ultimate geopolitical and policy hedge. <strong>Gold<\/strong> spiked to $5,080.90 on fears of a U.S. strike on Iran and the Supreme Court tariff chaos. <strong>Silver<\/strong> followed suit, climbing to $82.80 (+5% for the week) as dip-buyers firmly regained control. <strong>Energy<\/strong> struggled for direction. Despite Iran tensions, <strong>WTI Crude<\/strong> settled practically flat at $66.48 supported by President Trump&#8217;s threats of a potential strike on Iran.However, demand concerns from the weak US GDP print capped gains. The week was defined by a flight to safety in Gold and a choppy U.S. Dollar reacting to the Supreme Court ruling.<\/p>\n\n\n\n<p><strong>Bitcoin<\/strong> is flashing warning signs. Weighed down by an unprecedented ~100.3k BTC drawdown from spot ETFs and hawkish Fed minutes earlier in the week, BTC is nursing a 23.6% loss for 2026, struggling to hold the $68k level.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>Asset<\/td><td>Last Level<\/td><td>Friday&#8217;s Change<\/td><td>Weekly Change \/ Note<\/td><\/tr><tr><td>WTI Crude<\/td><td>66.48<\/td><td>0.08<\/td><td>+0.12% (Iran Strike Fears)<\/td><\/tr><tr><td>Brent Crude<\/td><td>71.41<\/td><td>-0.26<\/td><td>Lagging WTI<\/td><\/tr><tr><td>Gold (Apr)<\/td><td>5080.9<\/td><td>83.5<\/td><td>+1.67% (Safe Haven Bid)<\/td><\/tr><tr><td>Silver<\/td><td>~$82.80<\/td><td>Volatile<\/td><td>+5.0% (Weekly Gain)<\/td><\/tr><tr><td>EUR\/USD<\/td><td>1.1793<\/td><td>0.0021<\/td><td>+0.10% (Tariff Relief)<\/td><\/tr><tr><td>USD\/JPY<\/td><td>155.07<\/td><td>0.08<\/td><td>+1.55% (Weekly)<\/td><\/tr><tr><td>10-Year Note<\/td><td>0.04096<\/td><td>0.021<\/td><td>Yields Mixed on Data<\/td><\/tr><tr><td>Bitcoin<\/td><td>~$68,154<\/td><td>0.018<\/td><td>ETF Drawdowns Weighing<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>FX Breakdown<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>EUR\/USD:<\/strong> The Euro initially popped above 1.1800 following the Supreme Court&#8217;s tariff block (which leaves Europe less vulnerable to trade escalation), but the rally faded as confusion set in over Trump\u2019s backup plans. It closed the week down at 1.1781.<\/li>\n\n\n\n<li><strong>GBP\/USD:<\/strong> Edged higher on Friday due to the U.S. tariff ruling and strong UK Retail Sales (+4.5% in Jan). However, diverging rate expectations keep the Pound down -1.29% for the week.<\/li>\n\n\n\n<li><strong>USD\/JPY:<\/strong> Rallied +1.55% for the week to close at 155.07. Japanese national CPI slowed significantly to 1.5% YoY (slowest since March 2022), tempering expectations for near-term BoJ tightening.<\/li>\n<\/ul>\n\n\n\n<p>The U.S. bond market is reacting to the threat of stagflation. With Core PCE hitting 3.0% (the highest since Nov 2003), the Fed is boxed in, pushing the 10-year yield back up near 4.10%. For crypto, this &laquo;higher for longer&raquo; rate environment is toxic; Bitcoin is bleeding institutional capital as risk-free rates remain elevated.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to Watch Next Week<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Nvidia&#8217;s AI Litmus Test (Wednesday): <\/strong>With Software stocks trapped in a historic bear market (all below their 200-DMA) and Semiconductors holding up the market, Nvidia&#8217;s earnings will dictate the survival of the 2026 tech rally. Investors expect $65.69B in revenue, but forward guidance on next-gen AI chips will be the true market mover.<\/li>\n\n\n\n<li><strong>The Tariff &laquo;Plan B&raquo; Trade: <\/strong>The Supreme Court blocked the emergency tariffs, but the White House is already exploring Sections 122, 301, and 338 of older trade acts to bypass Congress. Any official announcement of a new tariff structure will instantly inject volatility into the <strong>US Dollar (DXY)<\/strong> and global equities.<\/li>\n\n\n\n<li><strong>Tokyo CPI &amp; The Yen (Friday): <\/strong>With Japan&#8217;s national inflation cooling to 1.5%, the Bank of Japan&#8217;s tightening narrative is under threat. Friday&#8217;s Tokyo CPI is a leading indicator; if it prints soft again, expect <strong>USD\/JPY<\/strong> to break higher, putting intervention back on the table for Japanese officials.<\/li>\n\n\n\n<li><strong>The Fed&#8217;s Dilemma:<\/strong> Following the hot PCE (3.0%) and weak GDP (1.4%), the Fed is stuck. Watch <strong>Fedspeak<\/strong> closely this week. If officials start prioritizing inflation over growth, it could spark a &laquo;stagflation&raquo; sell-off in bonds and stocks.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Closing Recap Friday delivered a barrage of market-moving headlines, headlined by a significant miss in U.S. GDP and a monumental Supreme Court ruling against President Trump\u2019s global tariffs. Despite a &laquo;stagflationary&raquo; data mix &#8211; where Q4 GDP slowed sharply to 1.4% while Core PCE inflation accelerated to 3.0% &#8211; U.S. equities managed a relief rally.\u2026<\/p>\n","protected":false},"featured_media":0,"template":"","review_category":[5],"class_list":["post-7016","reviews","type-reviews","status-publish","hentry","review_category-weekly-reviews"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financial Market Review - 21.2.26<\/title>\n<meta name=\"description\" content=\"Leveraged&#039;s Financial Market Review for 21.2.26, your concise summary of recent market events and a look ahead at what\u2019s coming next\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/getleveraged.com\/uz\/reviews\/21-2-26\/\" \/>\n<meta property=\"og:locale\" content=\"uz_UZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Market Review - 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