--- title: "Super Week Arrives: Trump's Tariff Turmoil + Rising Tensions in Iran Heat Up, Major Economic Data and NVIDIA Earnings Stir the Market" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276548144.md" description: "This week will see the release of economic data such as PPI and NVIDIA's earnings report. The dynamics of Trump's tariffs are constantly reversing, posing challenges to the stability of the global trade system and growth. The Supreme Court rejected Trump's large-scale tariff system, after which Trump signed a decision to retaliate with a 10% global tariff and raised the rate to 15%. The three major stock indices turned positive due to the ruling, and oil prices rose due to supply risks in the Middle East. Investors are focused on the upcoming economic data and NVIDIA's earnings report" datetime: "2026-02-23T00:07:56.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276548144.md) - [en](https://longbridge.com/en/news/276548144.md) - [zh-HK](https://longbridge.com/zh-HK/news/276548144.md) --- > 支持的语言: [English](https://longbridge.com/en/news/276548144.md) | [繁體中文](https://longbridge.com/zh-HK/news/276548144.md) # Super Week Arrives: Trump's Tariff Turmoil + Rising Tensions in Iran Heat Up, Major Economic Data and NVIDIA Earnings Stir the Market According to Zhitong Finance APP, in the past week, policy has dominated market attention, culminating in the highly anticipated Supreme Court ruling on Friday, which rejected President Trump's large-scale tariff system. Subsequently, Trump quickly signed a 10% global tariff in response to the Supreme Court ruling and stated on social media on the 21st that the "global import tariff" rate announced the previous day on goods imported to the U.S. would be raised from 10% to 15%. The global trade system is facing increasing challenges to stabilize policies and growth, with undercurrents constantly changing. Last Friday, buoyed by the Supreme Court ruling, all three major stock indices turned positive and ended the week with gains. The S&P 500 index rebounded, closing up 0.7%, with a cumulative increase of 1.1% for the week; the Dow Jones Industrial Average, which is concentrated on blue-chip stocks, rose 0.5% on Friday, with a slight increase of 0.3% for the week; the Nasdaq Composite Index, which focuses on technology stocks, rose 0.9% on Friday, with a cumulative increase of 1.3% for the week. Oil prices rose about 5.5% last week, mainly due to traders factoring in the risk of supply disruptions in the Middle East if the U.S. strikes Iran, bringing the return rate of this energy product to about 11% for the month. ## Economic Data and Important Earnings Reports The focus of this week's economic data schedule is the Producer Price Index (PPI) on Friday, which will provide investors with readings on upstream input costs against the backdrop of inflation remaining stubbornly above the Federal Reserve's 2% target rate. Previously released data on the Personal Consumption Expenditures (PCE) index showed that overall prices and the "core" PCE (the inflation indicator favored by the Federal Reserve) both rose by 0.4% month-on-month in December, an increase from November. Investors will also receive consumer confidence readings from the Conference Board on Tuesday and more employment data through weekly initial and continuing unemployment claims on Wednesday, as the market attempts to clarify the state of the labor market. Additionally, President Trump will deliver the State of the Union address on Tuesday. In the corporate sector, all eyes are on NVIDIA (NVDA.US) as it reports its fourth-quarter earnings, which will be released after the market closes on Wednesday. The earnings report from this world's most valuable chip manufacturing giant will be a key barometer for gauging the state of artificial intelligence (AI) trading. Salesforce (CRM.US) earnings on Wednesday will also provide a reference for assessing the sell-off in the software sector, which was severely impacted in February. Home Depot (HD.US) and Lowe's (LOW.US), which will report earnings on Tuesday and Wednesday respectively, will provide alternative indicators for observing the real estate market; while Constellation Energy (CEG.US) and Dominion Resources (D.US) earnings will help gain deeper insights into the state of the U.S. electricity market. ## Tariff Ruling Dynamics Investors and the White House finally awaited the long-anticipated ruling last Friday, although it soon faced Trump's "about-face." The U.S. Supreme Court voted 6 to 3 last Friday to reject a large portion of President Trump's large-scale tariff system, ruling that the International Emergency Economic Powers Act (IEEPA) did not grant the president the authority to impose broad tariffs on other countries, which dealt a blow to the government's economic and foreign policy Minutes after the ruling was announced, the stock market reversed the initial decline from Friday's trading session and turned slightly positive, reacting positively to the decision. "The market's muted response to the Supreme Court's ruling on tariffs from the Trump era indicates that this has largely been priced in," said Gina Bolvin, president of Bolvin Wealth Management Group, in an email comment. "Since IEEPA tariffs account for about 60% of the tariffs imposed, the ruling's impact on the economy is limited." However, potential refund issues were not addressed. According to estimates, the total amount of refunds could reach $175 billion. This issue will now be submitted to the trade court in Washington, D.C., but companies reliant on imports may immediately begin filing these refund requests with U.S. Customs and Border Protection. At a press conference last Friday, Trump stated that as the government shifts to other measures to replace the rejected IEEPA tariffs, the White House will immediately implement "a 10% global tariff... on top of the normal tariffs already imposed" under Section 122 of the Trade Act of 1974. "We will take a dim view of the short-term rebound from the Supreme Court ruling, as the Trump administration will quickly turn to different legal grounds to implement alternative tariffs, while the fiscal deficit will further widen in the meantime," wrote Jeff Buchbinder, chief equity strategist at LPL Financial, in an email comment. "However, if lower tariffs help cool inflation, it could solidify market expectations for the Federal Reserve to cut rates later this year," he added. Notably, following the U.S. Supreme Court's ruling on Trump's massive tariff policy last Friday, President Trump swiftly issued a new executive order announcing a 10% import tariff on goods from all countries and regions starting February 24, 2026, and a day later announced an increase of this newly imposed "global import tariff" rate from 10% to 15%. ## "Scale and Consequences" of the Iran Situation Oil prices, which have been on a steady decline in 2025, have risen 15% since the beginning of 2026. This is largely attributed to tensions in Iran. For the past month, Washington and Tehran have been negotiating a new nuclear agreement aimed at limiting the Iranian regime's ability to produce nuclear weapons. Last Thursday, Trump stated that Iran has 10 days to reach an agreement with the U.S., heightening the possibility of military action. Reportedly, Trump indicated last Friday Eastern Time that he is considering a "limited initial military strike" against Iran to compel it to accept U.S. demands regarding the nuclear agreement. The latest developments show that U.S. and Iranian negotiating representatives are expected to meet in Geneva this Thursday. Trump is inclined to carry out an initial strike against Iran in the coming days, with the possibility of launching a larger-scale attack in the coming months. While Iran possesses the third-largest proven oil reserves in the world and ranks among the top ten oil-producing countries globally, the oil market is most concerned about the Strait of Hormuz, a critical shipping chokepoint through which approximately 20 million barrels of oil products pass daily Jorge León, head of geopolitical analysis at Rystad Energy, stated that if the scale of U.S. actions is small and targeted, oil prices could briefly spike by about $10 per barrel, before quickly retreating to rebalance. León noted that if the U.S. were to engage in sustained military actions—especially if this provokes severe retaliation from Iran, such as attacks on regional oil infrastructure—the market could see a "(approximately) $15 per barrel sustained price increase." "If the market begins to seriously factor in the possibility of U.S. strikes on Iran in the coming weeks, the market's reaction will depend more on the scale and consequences of the actions rather than the political narrative itself," Capital analyst Daniela Hsawoon commented in an email. Hsawoon stated that even without immediate military action, "the mere long-term uncertainty is enough to maintain a geopolitical risk premium." ### 相关股票 - [NVIDIA (NVDA.US)](https://longbridge.com/zh-CN/quote/NVDA.US.md) - [iShares Semiconductor ETF (SOXX.US)](https://longbridge.com/zh-CN/quote/SOXX.US.md) - [GraniteShares 2x Short NVDA Daily ETF (NVD.US)](https://longbridge.com/zh-CN/quote/NVD.US.md) - [VanEck Semiconductor ETF (SMH.US)](https://longbridge.com/zh-CN/quote/SMH.US.md) - [Direxion Semicon Bull 3X (SOXL.US)](https://longbridge.com/zh-CN/quote/SOXL.US.md) - [T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ.US)](https://longbridge.com/zh-CN/quote/NVDQ.US.md) - [AXS 1.5X NVDA Bear Daily ETF (NVDS.US)](https://longbridge.com/zh-CN/quote/NVDS.US.md) - [SPDR S&P Semicon (XSD.US)](https://longbridge.com/zh-CN/quote/XSD.US.md) - [Invesco Semiconductors ETF (PSI.US)](https://longbridge.com/zh-CN/quote/PSI.US.md) ## 相关资讯与研究 - [Nvidia Asked by US Senators to Provide Details on Groq Deal](https://longbridge.com/zh-CN/news/279931631.md) - [LPU: Nvidia popularizes a new AI acronym](https://longbridge.com/zh-CN/news/279662346.md) - [Nvidia CEO Jensen Huang says OpenClaw is 'definitely the next ChatGPT'](https://longbridge.com/zh-CN/news/279500740.md) - [NVIDIA Launches BlueField-4 STX Storage Architecture With Broad Industry Adoption | NVDA Stock News](https://longbridge.com/zh-CN/news/279312534.md) - [South Korea’s SK Group chairman expects chip wafer shortage to last until 2030, eyes US ADR listing](https://longbridge.com/zh-CN/news/279337510.md)