Top 5 catalysts for the Nasdaq 100 Index this week

The Nasdaq 100 Index has remained in a tight range in the past few months as concerns about how artificial intelligence (AI) will impact companies rose. It was trading at $25,000 on Friday, a few points above this month’s low of $24,385.

Many companies in the index have slumped as investors reacted to key AI product launches and the impact on their businesses. For example, cybersecurity companies like Palo Alto Networks and CrowdStrike sank after Anthropic released security tools. 

Similarly, companies in industries like wealth management, software, and insurance brokerage dropped after new AI product launches. This article explores the key catalysts for the Nasdaq 100 Index this week.

NVIDIA earnings

The most important catalyst for the Nasdaq 100 Index and its ETFs, like QQQ and JEPQ is the upcoming NVIDIA earnings, which will provide more color about its business.

NVIDIA is an important company because it is the biggest firm in the world. It is also the top provider of chips that are used in the artificial intelligence industry. 

Analysts anticipate the company to publish strong financial results. The average estimate is that its revenue jumped to $65 billion in the fourth quarter, while its earnings growth accelerated.

A strong NVIDIA earnings report and guidance will be bullish for the NASDAQ 100, S&P 500, and the Dow Jones Industrial Average. 

Other top corporate earnings

In addition to NVIDIA, more companies will publish their financial results this week. Two of the most notable ones are Salesforce and Intuit, two of the top software stocks. Their stocks have plunged in the past few months as concerns about AI disruption.

Therefore, these results will provide more information about their businesses and whether they are being disrupted. Most importantly, their numbers will reveal whether their AI tools are generating substantial earnings.

The other top software companies that will release their results this week are Workday, Synopsys, Snowflake, Zoom Communications, and Autodesk.

Additionally, companies like Monster Beverage, Dell, Warner Bros. Discovery, CoreWeave, TJX, and Home Depot will publish their financial results.

Donald Trump’s new 15% global tariff

The other key catalyst for the Nasdaq 100 Index will be the new developments on Donald Trump’s tariffs. The Supreme Court ruled in favor of the plaintiffs, noting that Trump did not have the power to impose levies. 

In his response, Trump initially imposed a 10% global tariff and then increased it to 15%. He imposed these tariffs using Section 122, which allows the president to impose them for 150 days. 

Potential US strike on Iran

Meanwhile, President Trump may decide to strike Iran this week. In a statement on Friday, he noted that he would launch a limited strike to pressure the country to reach a deal.

While Trump gave Iran 15 days to reach a deal, there is a likelihood that he will attack soon. For one, a report by the WSJ noted that many sailors are fatigued as they have remained at sea for over 8 months. Some are even considering quitting. As such, Trump may decide to attack as soon as this week, a move that would sink the Nasdaq 100 Index.

Key statements by Fed officials

The Nasdaq 100 Index will also react to statements by key Federal Reserve officials like Raphael Bostic, Christopher Waller, Susan Collins, Lisa Cook, and Tom Barkin. Their statements will come a week after the US released a weak GDP report. 

The US also released a strong inflation report, which showed that the headline Personal Consumption Expenditure (PCE) rose to 2.6% in December. As such, a sign that the bank will cut interest rates will be bullish for the market.