The stock market is poised for an intriguing start to the week, as key developments in steel tariffs and notable company earnings capture investor attention. Following modest weekly losses, the S&P 500, Nasdaq, and Dow show signs of recovery with stocks indicated higher on Monday. Shares of North Carolina-based Nucor and other steelmakers are experiencing a premarket surge, influenced by President Donald Trump's announcement of a 25% tariff on all imports of steel and aluminum. As the market digests these updates, Nvidia and DuPont's scheduled earnings reports add further interest to the trading landscape.
On Friday, the S&P 500 fell by 1% amid heightened concerns regarding tariffs and a dip in consumer sentiment. Despite this decline, analysts remain optimistic about specific stocks. DeepSeek's recent sell-off is perceived as a potential buying opportunity, with analysts maintaining a price target of $190 per share. This positive outlook contributes to the anticipation surrounding Monday's market activity.
The earnings calendar presents a slight reprieve this week, although notable reports are still expected. DuPont, a major player in its sector, will release its earnings on Tuesday morning, providing insight into its financial performance. Additionally, Nvidia's earnings report scheduled for February 26 has captured attention, especially after being added to Evercore ISI's "Tactical Outperform" list. The Club, an influential entity in the stock market, includes both Nvidia and Nucor in its holdings and has kept a close watch on Nucor within its Bullpen list.
Nucor's premarket gains reflect the broader steel industry's response to the impending tariffs. As one of the leading steelmakers in the United States, Nucor's performance acts as a barometer for investor sentiment regarding the sector's future prospects. The company's position on The Club's watchlist underscores its significance among industry players and market observers.