Over the past few weeks, I've observed that global markets are heavily influenced by geopolitical tensions. The uncertainty surrounding the US-Iran relationship is pushing investors toward risk-averse sentiment. Meanwhile, some important economic data from the US is set to be released in the coming days, which will drive market movements.

Starting Monday, the February Manufacturing PMI data and the ISM Industry Index will be released. Then, midweek, the ADP employment numbers will come out, providing an early signal of true non-farm payroll data. On Thursday, the Federal Reserve's Beige Book will be published, along with Challenger layoffs figures. But the most important data will be on Friday — February's unemployment rate, non-farm job creation, and retail sales figures. These numbers could determine the market direction.

Looking at the stock market, a curious picture emerges. The Nasdaq Composite has not been able to hit new records for four months, and both the S&P 500 and Nasdaq have posted their worst performances since March. This is a clear sign that investors are skeptical about the actual profitability of AI technology companies. Wall Street tech shares are now experiencing a kind of storm, where growth stories do not match real earnings. These data points suggest that market sentiment is shifting, and next week's reports will clarify that change further.