Quick overview
- Cisco Systems, Coherent, Cerebras Systems, and Nebius Group are the key companies on today’s earnings calendar, with investors concerned about demand and growth expectations.
- Google’s stock fell 3.5% amid worries about its AI culture and competition, despite claiming 1 billion users.
- Gold prices experienced volatility, finishing lower after an initial rally, while the USD/JPY currency pair saw significant fluctuations due to economic data and central bank actions.
- Cryptocurrencies like Bitcoin and Ethereum showed mixed performance, with Bitcoin finding support around $60K and Ethereum rebounding above $2,000.
Live BTC/USD Chart
BTC/USD
Cisco Systems, Coherent, Cerebras Systems and Nebius Group headline today’s earnings calendar, with investors watching closely for signs of slowing demand, rising costs and whether lofty growth expectations can be justified.
Markets continue to digest earnings reports and AI developments. The big news yesterday on the $500 billion in AI capex fundraising has added to questions about who will pay for it but it led to some nice gains for asset managers.
The laggard was Google as it fell another 3.5%. It continues to struggle after a shakeup last week among the top people in AI and technology. The chatter about a broken culture is gaining mometum and it has the market worried that Gemini will never catch up, even with the company touting 1 billion users today.
The intraday action saw modest gains at the open but creeping selling as the day went on. Oil tried to sell off on Pakistani headlines about a potential deal but finished 1.6% higher on some late bids. That’s back-to-back losses in the S&P 500 but I don’t think anyone is ready to hit the panic button.
Earnings Calendar Highlight Today
Today’s earnings calendar carries a relatively high level of uncertainty. Cisco Systems offers the more established business model, while Coherent, Cerebras Systems and Nebius Group face greater questions surrounding growth, spending and profitability. With expectations already elevated across parts of the technology sector, even solid results may not be enough if forward guidance fails to impress.
Cisco Systems (CSCO)
Earnings: Q4 2026 earnings announcement
- Timing: After market close (AMC)
- Expected EPS: $1.17
- Market capitalization: Approximately $483.1 billion
- Cisco enters the results with investors focused on networking demand, enterprise spending and the company’s ability to maintain growth in a competitive technology market.
- Strong demand for data-center networking and infrastructure could support results, but elevated expectations leave limited room for disappointment.
- Investors will also be watching Cisco’s margins and forward guidance for signs that spending conditions are becoming more challenging.
- Any weaker outlook could put pressure on CSCO shares even if quarterly results beat expectations.
Coherent (COHR)
- Earnings: Q4 2026 earnings announcement
- Timing: After market close (AMC)
- Expected EPS: $1.62
- Market capitalization: Approximately $63.61 billion
- Coherent remains closely tied to demand for optical communications, networking equipment and advanced semiconductor-related applications.
- Investors will be looking for evidence that demand remains strong enough to support the company’s recent growth expectations.
- Margin performance will be particularly important as higher production costs and substantial investment requirements remain potential headwinds.
- A cautious outlook or weaker guidance could quickly revive concerns about the sustainability of its recent valuation.
Cerebras Systems (CBRS)
- Earnings: Q2 2026 earnings announcement
- Timing: After market close (AMC)
- Expected EPS: -$0.18
- Market capitalization: Approximately $51.26 billion
- Cerebras arrives with expectations for continued rapid growth, but its projected loss highlights the significant challenge of converting strong demand for specialized computing into sustainable profitability.
- Investors are likely to focus heavily on revenue growth, cash usage and the company’s path toward improving margins.
- Competition from much larger semiconductor companies remains a major concern, particularly as customers become more selective about infrastructure spending.
- With the stock carrying substantial growth expectations, even a modest disappointment could trigger significant volatility.
Nebius Group (NBIS)
- Earnings: Q2 2026 earnings announcement
- Timing: Before market open (BMO)
- Expected EPS: -$0.86
- Market capitalization: Approximately $46.75 billion
- Nebius remains one of the more speculative names on today’s calendar, with investors focused on infrastructure expansion, revenue growth and the company’s ability to control rising capital requirements.
- The expected loss underlines the challenge facing the company as it attempts to expand rapidly while building a profitable business.
- Investors will likely pay close attention to spending plans, customer demand and management’s outlook for future growth.
- Any indication that expansion costs are rising faster than expected could increase pressure on NBIS shares.
Forex Signals Update
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.
USD/JPY Dives Below the 100 SMA
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 climbed to $164 but reversed after the BOJ meeting and fell 7 cents, breaking below the 100 daily SMA (red) as well, which has been acting as support before.
USD/JPY – Daily Chart
Cryptocurrency Update
The 50 Daily SMA Holds as Support for Bitcoin
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.
www.fxleaders.com