This Week's Major Trading Events
This week's major trading events are interesting ones, with the macroeconomic data focused on the labor market.
Monday the 3rd, we have manufacturing data from the US, with ISM Manufacturing PMI and ISM Manufacturing Employment.
It really kicks off with a major leading indicator up to NFP, with JOLTS data on Tuesday the 4th:
U.S. June JOLTS Job Openings (Releasing Tuesday, Aug 4 at 10:00 AM ET / 3:00 PM BST):
Forecast: Expected around 7.25M – 7.42M.
Previous: 7.594M (May).
Then followed on Wednesday the 5th by ADP labor market data:
U.S. July ADP National Employment Report (Releasing Wednesday, Aug 5 at 12:15 PM ET / 5:15 PM BST):
Forecast: Expected around 70K – 98K.
Previous: 98K (June).
Again, a leading indicator to Friday's high-impact news catalyst in NFP (Non-Farm Payrolls):
U.S. July Non-Farm Payrolls (Releasing Friday, Aug 7 at 8:30 AM ET / 1:30 PM BST):
Forecast: Expected around 79K – 91K.
Previous: 57K (June).
Unemployment Rate Forecast: 4.2% – 4.3% (Previous: 4.2%).
NFP has shown recently to be a massive market mover, yet it has long had a reputation as a high-impact news catalyst. Could this week's leading labor market data and NFP show to be a big market mover and cause the next inflation print consensus to be revised?
This week's earnings reports include:
Monday, August 3rd: Berkshire Hathaway (Warren Buffett's famous finance firm), Palantir (PLTR, the ever-so-controversial technology company).
Tuesday, August 4th: Is the most recent and biggest IPO in history, Elon Musk's SpaceX (SPCX), also AMD, McDonald's Corporation (MCD).
Wednesday, August 5th: Eli Lilly (LLY, the drug maker with its recent weight-loss drug success), Novo (NVO, another Big Pharma), SanDisk (SNDK, the computer memory company that's had great jumps in stock price of recent with great demand for memory), Walt Disney (DIS), Shopify Inc., and Uber Technologies.
Thursday, August 6th: Cloudflare, Monster Beverage (MNST), Airbnb (ABNB).
Friday, August 7th: Under Armour (UAA).
Plenty of labor market data on the top-down macro side and plenty of corporate earnings on the micro bottom up side to go off this week for investors, traders, and economists and corporate,s to get a good gauge of the health of the economy.