Next week’s major events: Nvidia earnings report, Trump’s State of the Union address, US-Iran confrontation, German Chancellor’s visit to China

**Overview of Major Financial Events for the Week of February 23 - March 1, All Times Beijing Time:** Next week’s main highlights: **First, the macro sphere welcomes the “Trump moment.” U.S. President Trump will deliver the State of the Union address on February 24**, outlining key policy priorities for the coming year. **On the same day, a 10% global temporary import tariff signed under Section 122 of the Trade Act will officially take effect.** Although the Supreme Court previously ruled his original act unconstitutional, the White House rapidly invoked alternative law to uphold its tariff agenda. Simultaneously, U.S. January PPI and durable goods orders data will be released. China's February LPR is expected to remain unchanged, and Hong Kong’s new financial budget will be announced. **Second, focus on Nvidia’s earnings report.** Nvidia will release its after-market earnings on February 25; its performance and guidance will not only affect its own stock price but will directly impact investor sentiment across the AI industry chain. China’s AI representative **Baidu** will also report earnings the following day. Apple’s annual shareholder meeting will be held on February 24, and iOS 26.4 beta will roll out during the week, with the market watching for updates to its AI strategy. **Berkshire Hathaway**, Salesforce, and other well-known companies’ earnings will provide broader industry perspectives. **Finally, geopolitical undercurrents surge.** **Iran’s situation suddenly becomes tense, with Trump revealing he is considering “limited military strikes” against Iran**; the U.S. Secretary of State will visit Israel on February 28 to discuss the Iran nuclear issue, potentially impacting oil prices. Meanwhile, new German Chancellor Merz will visit China February 24-26, introducing new variables to China-Europe relations and global trade cooperation. Other events attracting attention include U.S. Congressional hearings on the Epstein case involving the Clintons, and the MSCI China Index adjustment going into effect. --- **Economic Indicators** U.S. January PPI will be released Friday, February 27; durable goods orders data will be public February 23. In China, February LPR will be published and is expected to remain unchanged. Meanwhile, Japan’s Tokyo February CPI and the latest Eurozone CPI data will also be announced. **Major Earnings: Nvidia, Baidu** **AI giant Nvidia will release its latest earnings after the U.S. market closes on February 25**; the earnings call will be held at 2 PM Pacific Time (6 AM Beijing Time, February 26). **Baidu will announce its fiscal Q4 and full-year 2025 financial results on February 26**. Baidu’s management will hold an earnings call at 7:30 AM Eastern Time (8:30 PM Beijing Time, February 26). Other anticipated earnings next week include Berkshire Hathaway, AI star Coreweave, software company Salesforce, HSBC, Home Depot, and others. For A-shares and Hong Kong stocks: Yum China, Standard Chartered, and Trip.com will release earnings. **Financial Events** - **U.S. President Trump to deliver State of the Union Address** Trump plans to deliver the State of the Union address to a joint session of Congress on February 24, outlining his administration’s key policy priorities for the year, including economic developments. Supreme Court justices who ruled against his tariff policy will attend. - **Trump hikes new global tariff to 15%, effective February 24** After the Supreme Court ruled the government’s large-scale tariff policy “exceeded authority” on February 20, Trump immediately issued a new executive order to impose a 10% tariff on imports from all countries and regions starting February 24, 2026. - **On February 21, Trump announced the global import tariff would be raised to 15%.** Hundreds of companies are filing lawsuits seeking reimbursement for extra duties paid under Trump’s policies. - **Trump considers “limited military strikes” against Iran; Iranian Foreign Minister: Draft agreement with U.S. to be finalized by February 23** Trump said on February 20 he is considering “preliminary limited military action” against Iran to force acceptance of U.S. nuclear demands. Iran’s Foreign Minister indicated the only solution is diplomatic and expects to finalize a draft agreement within three days (by February 23). - **Report: German Chancellor Merz to visit China February 24-26** German government spokesman Sebastian Hille announced Chancellor Merz’s visit will include Beijing and Hangzhou. - **Apple to hold 2026 annual shareholder meeting** Apple will convene its annual shareholder meeting on February 24 Eastern Time. Board elections, executive compensation, and approval of Ernst & Young as public accountants will be voted, along with shareholder proposals. - **Apple plans to release iOS 26.4 beta to developers week of February 23** Tech reporter Mark Gurman reports Apple will release iOS 26.4 beta, likely including new Siri features. Apple is also expected to hold a product launch for iPhone 17e the week of March 2, keeping the $599 starting price and upgrading chips with new MagSafe. New entry-level iPad will have A18 and Apple Intelligence; iPad Air will upgrade to M4. - **Fed personnel change: Atlanta Fed President Bostic to retire** Atlanta Federal Reserve President Raphael Bostic will retire when his term ends February 28, 2026. Bostic, 59, was the first African-American and first openly gay Fed regional bank president. Cheryl Venable will serve as acting director. Bostic’s departure adds uncertainty as the Fed faces high-profile personnel changes and political pressure for rate cuts, with Chair Powell’s term ending next May. - **U.S. House Oversight Committee subpoenas the Clintons for Epstein case testimony** The House committee will hold closed depositions for former President Bill Clinton (February 27) and former Secretary of State Hillary Clinton (February 26) in Chappaqua, NY. The hearings relate to the committee’s investigation of deceased financier Jeffrey Epstein. - **U.S. Secretary of State to visit Israel February 28 to discuss Iran** High-level U.S. officials discussed Iran at a White House situation room meeting February 18, aiming for Middle East troop deployment by mid-March. Secretary Rubio will visit Israel February 28 to meet Prime Minister Netanyahu and discuss Iran. - **Hong Kong announces new financial budget** Hong Kong’s Finance Secretary Paul Chan announced the new budget will be released February 25. Increased revenue from a booming financial market, including stamp duty, will allow the government to return to surplus sooner. Increased infrastructure investment means this year's capital account remains in deficit. - **MSCI China Index adds 37 stocks including Baiyin Nonferrous** MSCI, the international index provider, announced its February 2026 quarterly index adjustments, effective after close February 27. The MSCI China Index will add 37 stocks including Leo Group, Baiyin Nonferrous, Anji Tech, and Pony.ai, and remove 16 stocks including Fosun International, Great Wall Motor, and Vanke. - **CSI Index Company launches Hong Kong Stock Connect Robot Theme Index** On February 27, 2026, CSI Index will release the CSI Hong Kong Stock Connect Robot Theme Index and CSI US Stock 30 Index, providing more investment choices. The robot index selects 30 listed companies in robotics and related fields to reflect overall performance; the US Stock 30 selects thirty large-cap, liquid NYSE and NASDAQ stocks. - **U.S. Treasury will auction $44 billion of 7-year bonds** Next week, the U.S. Treasury will auction $44 billion in 7-year bonds, along with $70 billion in 5-year and $69 billion in 2-year bonds. - **China’s Central Bank to issue 20 billion yuan 1-year RMB bills in Hong Kong** On February 25, China’s central bank will issue RMB bills in Hong Kong: 30 billion yuan for 3 months, 20 billion yuan for 1 year. - **FOMC voters and Fed Presidents to speak** Next week, FOMC 2027 voter and Richmond Fed President Barkin, FOMC 2027 voter and Chicago Fed President Goolsbee, FOMC 2028 voter and St. Louis Fed President Musalem, and Fed Governor Waller will deliver remarks. - **2026 Silver-haired Cultural and Tourism Innovation Conference** The conference and integrated ecological industry exhibition will be held February 27 in Nanjing. - **13th Asia-Pacific Forum for Sustainable Development** To be held February 24-27. - **EU calls extra oil coordination group meeting** According to Bloomberg, the EU will hold an extra oil coordination group meeting February 25. - **Former Philippine President Duterte to skip ICC hearing** Duterte announced he will skip the February 23 ICC confirmation hearing. The court had ruled he was fit to attend, the hearing will proceed February 23. - **New Dutch Cabinet to be sworn in** The new Dutch Cabinet will be sworn in, with Rob Jetten expected as Prime Minister. - **Milan Fashion Week begins** Milan Fashion Week starts; Gucci’s February 27 show is a highlight, marking Demna Gvasalia’s first show as creative director. - **Douyin New Year Food & Fun Festival ends February 23** Douyin Life Service launched a New Year Food & Fun Festival from February 10-23, 2026. Users can access the “Group Buy” page or search “Spring Festival Group Buy” daily at 12, 17, and 20:00 to win red envelopes, coupons, and prizes. Users can also join the card collection activity for brand gifts. - **Laopu Gold to adjust product prices February 28** Laopu Gold announced a price adjustment will take effect February 28, 2026. Price details are based on actual marked prices online and offline. In 2025, Laopu Gold adjusted prices three times (February, August, October). **Risk Warning & Disclaimer** The market entails risk and investment should be cautious. This article does not constitute personal investment advice and does not consider individual user’s specific investment targets, financial situation, or needs. Please consider whether any opinions, views, or conclusions herein suit your circumstances. All investments made based on this article are at your own risk.