Key Economic Events and Corporate Reports for Tuesday, 24 February 2026: Implementation of US Import Tariffs, China’s LPR Rate, US Macroeconomic Statistics, and the Peak of Q4 2025 Earnings Season. Analysis for Global Investors.
Tuesday, 24 February, presents a convergence of macroeconomics, trade policy, and corporate reporting for investors. The earnings season for Q4 2025 is ongoing in the US, with results and forecasts from companies across various sectors—ranging from consumer goods and infrastructure to energy and green generation—set to be published today. In this context, market sensitivity to any signals regarding inflation dynamics, interest rates, and demand resilience in the US, Europe, and Asia is heightened.
US Trade Policy: Import Tariffs as a Factor of Inflation and Yields
The highlight of the day is the enactment of temporary US import tariffs on a wide range of goods. For the markets, this sends a dual signal: firstly, it poses potential pressure on import prices and inflation expectations; secondly, there’s a risk of a more aggressive trajectory for interest rates and a reassessment of the yield curve. Practical reactions often manifest through a strengthening of the dollar, increased volatility in cyclical sectors, and a rotation towards defensive stories.
- Investor Focus: How swiftly trade costs will translate into consumer prices and company margins.
- Markets Under Pressure: Import-dependent sectors, retail, and parts of the industrial sector; support may come from local producers and companies with significant pricing power.
- Practice: On days with trade decisions, the likelihood of "sharp movements" in currency and commodity markets increases, particularly when US consumer data is released simultaneously.
US: Presidential Address to Congress and Political Risk Premium
An additional driver will be the annual address by the President of the United States to Congress regarding the state of the nation and the administration's plans. For the markets, this primarily introduces the risk of unexpected rhetoric concerning tariffs, budget, regulation, and sanctions policy. Such speeches typically heighten intraday volatility in the S&P 500 and Nasdaq indices, as well as in sectors sensitive to government spending and regulation (defence, healthcare, energy, technology).
Macroeconomic Calendar: Key Releases and Speeches (MSK Time)
- 04:15 — China: LPR (Loan Prime Rate).
- 16:15 — USA: ADP Employment (private sector employment).
- 17:00 — USA: S&P/Case-Shiller Index (December).
- 17:15 — UK: Speech by Bank of England Governor Andrew Bailey.
- 18:00 — USA: Consumer Confidence (February).
- 18:00 — USA: Richmond Manufacturing Index (February).
- 20:45 — Eurozone: Speech by ECB President Christine Lagarde.
- 00:30 — USA: API Crude Oil Stocks (transitioning into Wednesday).
China and Asia: LPR Rate and Assessment of Regional Demand
The decision regarding the LPR in China serves as a pivotal reference for evaluating the cost of borrowing, activity in real estate, and the dynamics of domestic demand. For the global market, this is a crucial input parameter for commodity currencies, industrial metals, and Asian equities. In conjunction with the US trade agenda, the reaction may be asymmetric: even a neutral rate amidst "hawkish" signals from the US can amplify caution in risk assets and boost demand for defensive instruments.
Commodities and Oil: Attention to API and Energy Reports
Late evening data from the API on US oil inventories will be released—this is one of the quickest indicators of supply and demand balance ahead of the official statistics. On days when energy company reports are published simultaneously, the market's focus shifts not only to inventories but also to management commentary regarding production, capital expenditures, and hedging. For CIS investors, the linkage between "oil — currencies of commodity countries — risk appetite" is vital, as it impacts the dynamics of regional indices, including MOEX.
Corporate Reports: USA Before Market Opening (Premarket)
Major Public Companies in Focus:
- Home Depot (HD) — Q4 and 2025 fiscal year report; key focus on demand in renovation/construction and outlook for 2026 (conference call at 17:00 MSK).
- Keurig Dr Pepper (KDP) — report before market opening; focus on sales dynamics and pricing mix in FMCG.
- NRG Energy (NRG) — results and guidance update; the market usually assesses margins, generation structure, and debt load.
- American Tower (AMT) — results and comments on telecom infrastructure; important metrics include revenue growth, lease rates, and capital expenditures (call at 16:30 MSK).
- Diamondback Energy (FANG) — energy report and comments on production/capex (market timing indication at 17:00 MSK).
- Planet Fitness (PLNT) — report before market opening; focus on LFL dynamics and network expansion.
- Constellation Energy (CEG) — publication of quarterly/annual materials; investors will look for stability of generation and comments on power and fuel prices.
The investor logic during premarket is straightforward: retail and consumer companies provide signals regarding household strength, infrastructure companies provide insights into capital cycle conditions, while energy reports highlight the balance of commodities and investment plans.
Corporate Reports: USA After Market Close and Evening Events (After Close)
- Realty Income (O) — report post-NYSE close; focus on rental income, funding costs, and comments on interest rates (call late at night MSK).
- MercadoLibre (MELI) — results publication and conference call; emphasis on e-commerce and fintech segment growth rates (timing — night MSK).
- EOG Resources (EOG) — anticipated publication from the energy giant; the market will compare capital expenditure discipline and free cash flow.
- ONEOK (OKE) — quarterly outcomes discussion on conference call; crucial aspects include tariff revenues and comments on volumes in midstream (19:00 MSK).
- First Solar (FSLR) — report and 2026 guidance update; critical how the company describes demand and prices for capacity.
- DigitalOcean (DOCN) and a range of second-tier technology issuers — focus on ARR/margins and commentary on demand for cloud infrastructure.
After the market closes, the "tone of the environment" is often established: if reports and forecasts confirm demand resilience, futures on indices may reverse even before Asia opens. Conversely, if concerns over margin due to trade costs rise, markets quickly retreat into defensive assets.
Europe and Asia: Significant Earnings and Corporate Publications
In Europe, the annual results season continues, with investors comparing corporate reports against ECB rhetoric. In the Asian direction, significant publications from commodity and semiconductor companies are valuable for assessing the investment cycle and external demand.
- Croda International — annual results for 2025; focus on chemicals and margins.
- Société BIC — 2025 results; important how the company depicts demand in the US and Europe.
- Woodside Energy (WDS) — annual materials for 2025; for the market, production forecasts, cash flows and project capital priorities are critical.
- ChipMOS (IMOS) — report and conference call; indicator of supply chain conditions and semiconductor demand.
Conclusion: Key Points for Investors to Consider
- US Trade Policy: Monitor dollar and yield reactions—this directly impacts the valuation of global equities and the cost of capital.
- US Data at 18:00 MSK: Consumer confidence and the Richmond index can sharply alter intra-day risk appetite.
- Chinese LPR: Important for commodities and Asian markets; the response may be more pronounced due to trade context.
- US Earnings: Home Depot as a barometer for consumer/housing cycle; energy (EOG, Diamondback) and infrastructure (American Tower) as tests for cash flow resilience amid costly funding.
- Oil and API: Evening inventory statistics could set the tone for the commodity sector in the next session, particularly when strong comments from companies regarding capex and production are considered.
