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July jobs report and SpaceX debut earnings headline busy week
The week also brings a labor-market data stack, culminating in Friday's nonfarm payrolls expected to show 88,000 jobs added in July, up from June's 57,000.
Investors are set for a lighter schedule after last week’s strong run, with this week’s key market catalysts centered on the U.S. labor report and SpaceX’s debut as a public company. The S&P 500 closed Friday up 0.7%, the Dow gained 0.5%, and the Nasdaq rose 1% as it extended its rebound, according to Yahoo Finance.
SpaceX (SPCX) will deliver its first earnings report as a public company on Tuesday following its IPO, and the focus will be on how the company is managing investment levels and whether its spending supports its strategy. The corporate earnings slate also includes Palantir Technologies and ON Semiconductor on Monday, followed by Advanced Micro Devices on Tuesday, with memory makers Sandisk and Western Digital reporting on Wednesday, Yahoo Finance said.
Outside of technology, Eli Lilly and Novo Nordisk report on Wednesday, while Walt Disney is also scheduled for that day. Energy names ConocoPhillips and Constellation Energy are slated for Thursday results.
On the economic calendar, attention will be on a sequence of labor-market releases that starts with JOLTS data on Tuesday, ADP private employment on Wednesday, and jobless claims on Thursday, ending with Friday’s monthly nonfarm payrolls report. Yahoo Finance said expectations call for 88,000 payrolls added in July, above June’s 57,000, and framed the jobs report as a test of the Fed’s labor-market side as well as its inflation focus.
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