Quick overview
- Thursday’s earnings calendar includes major companies like Intel, Nestlé, and T-Mobile US, with investors keen on insights into technology demand and consumer trends.
- The US dollar ended mixed amid geopolitical tensions, while US stocks closed lower as Treasury yields rose, reflecting caution over interest rates.
- Middle East tensions and rising oil prices dominated trading, prompting investors to reduce exposure to riskier assets ahead of key earnings reports.
- Disappointing after-hours results from Alphabet, Tesla, and IBM added to market uncertainty, highlighting the defensive tone across financial markets.
Live BTC/USD Chart
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Thursday’s earnings calendar features major companies including Intel, Nestlé, RTX, T-Mobile US, Lockheed Martin, and Nokia, with investors watching closely for updates on technology demand, defense spending, consumer trends, and corporate outlooks.
US Dollar Finishes Mixed as Markets Turn Cautious
The US dollar ended little changed in volatile trading yesterday as geopolitical tensions overshadowed a quiet US economic calendar.
Stocks Reverse Lower as Yields Rise
US stocks surrendered earlier gains and closed in negative territory, while Treasury yields continued to move higher. The shorter end of the yield curve remained the main source of upward pressure, reflecting continued caution over the interest-rate outlook.
Middle East Tensions Dominate Trading
With no major US economic data released and the Federal Reserve in its blackout period, traders focused heavily on rising oil prices, escalating US-Iran rhetoric, and potential disruptions to shipping through the Strait of Hormuz.
The heightened geopolitical uncertainty encouraged investors to reduce exposure to riskier growth and small-cap stocks.
Earnings Add to Market Uncertainty
Investors also remained cautious ahead of quarterly results from major companies including Alphabet, Tesla, ServiceNow, IBM, and Texas Instruments.
Alphabet, Tesla, and IBM shares subsequently fell in after-hours trading as their results and outlooks disappointed investors to varying degrees.
The Dow Jones managed to finish essentially unchanged, highlighting the defensive tone across markets as investors balanced rising yields, geopolitical risks, and disappointing corporate reactions.
Earnings Calendar Highlight for Thursday
Thursday’s earnings calendar brings a diverse group of companies into focus, with Intel likely to attract the most attention from technology and semiconductor investors. Meanwhile, RTX and Lockheed Martin will provide important signals on the defense sector, while T-Mobile and Nokia offer insights into telecommunications demand. Nestlé will round out the calendar with an update on global consumer spending.
With markets already sensitive to economic uncertainty, geopolitical risks, and shifting interest-rate expectations, earnings guidance could prove just as important as the headline results. Any significant surprises from these companies could trigger volatility across their respective sectors.
Intel Corporation (INTC)
- Earnings: Q2 2026 results
- Timing: After market close (AMC)
- Expected EPS: $0.22
- Market Cap: Approximately $515.67 billion
Why it matters: Intel’s results will be closely watched as investors assess processor demand, AI-related growth, and progress in its foundry strategy. The company’s guidance could also influence sentiment toward the broader semiconductor sector.
Nestlé S.A. (NSRGF)
- Earnings: H1 2026 results
- Timing: Timing listed as TNS
- Market Cap: Approximately $277.49 billion
Why it matters: Investors will focus on organic sales growth, pricing trends, consumer demand, and the impact of inflation on margins. Nestlé’s outlook could provide insight into the strength of global consumer spending.
RTX Corporation (RTX)
- Earnings: Q2 2026 results
- Timing: Before market open (BMO)
- Expected EPS: $1.66
- Market Cap: Approximately $262.44 billion
Why it matters: RTX earnings will offer an update on commercial aerospace demand, defense orders, and the company’s broader order backlog. Supply-chain conditions and production capacity are also likely to remain important themes.
T-Mobile US, Inc. (TMUS)
- Earnings: Q2 2026 results
- Timing: Before market open (BMO)
- Expected EPS: $2.60
- Market Cap: Approximately $206.64 billion
Why it matters: Investors will focus on subscriber growth, customer retention, service revenue, and management’s outlook. Competitive conditions across the US wireless market will also remain in focus.
Lockheed Martin Corporation (LMT)
- Earnings: Q2 2026 results
- Timing: Before market open (BMO)
- Expected EPS: $7.20
- Market Cap: Approximately $118.59 billion
Why it matters: Lockheed Martin’s results will provide insight into defense spending, government contracts, backlog growth, and margins. Investors will also monitor demand for major defense programs amid elevated geopolitical tensions.
Nokia Oyj (NOK)
- Earnings: Q2 2026 results
- Timing: Before market open (BMO)
- Expected EPS: $0.07
- Market Cap: Approximately $57.39 billion
Why it matters: Nokia’s results could shed light on telecom infrastructure demand, network equipment spending, and the broader recovery in the communications technology market.
Gold Returns to the $4,000 Level
Gold prices experienced a volatile trading week, ultimately finishing significantly lower after an initially strong rally lost momentum. The precious metal climbed above $4,300 early in the week but later reversed sharply, ending nearly $100 below its recent highs as investors reassessed the outlook for interest rates and global risk sentiment.
The decline was largely driven by a stronger U.S. dollar, rising Treasury yields, and reduced demand for defensive assets following positive geopolitical developments in the Middle East. Despite the weakness, gold remains above the critical $4,000 support zone, which continues to define the longer-term bullish trend but it is under attack.
MAs Keeping USD/JPY Supported
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 Tries to Resume Uptrend
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 SMA (purple) stands and rebounded above $76K but returned below $70K again.
BTC/USD – Daily Chart
Ethereum Returns Toward $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 and pushed the price above $2K again.
ETH/USD – Weekly Chart
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.
