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Wall Street heads into September with focus on August jobs report

The week ahead also includes a slate of US PMI releases, Fed materials, and major tech earnings, with Tesla’s invite-only Cybercab event in the mix.

Reported · Written up by our desk · Indices

Wall Street is set to head into September with investors closely watching the August US jobs report for signals on the Federal Reserve’s next interest-rate move, as employment data can help clarify the health of the US labour market. Beyond jobs, the week includes multiple other economic releases that could shed light on activity levels, including the US manufacturing and services purchasing managers’ indexes, plus additional reports such as the ADP National Employment report, the Federal Reserve Beige Book, and the ISM reports. On the corporate front, another round of technology earnings is expected to keep artificial intelligence in focus, with several major companies scheduled to report quarterly results, including Dell Technologies, Broadcom, Snowflake, Hewlett Packard Enterprise, and Palo Alto Networks. Tesla is also drawing attention, with an invite-only Cybercab launch event scheduled for Thursday in Austin, Texas, where reports say customers could soon be able to request rides in the purpose-built autonomous vehicle through Tesla’s existing Robotaxi app. Meanwhile, US stocks closed lower on Friday, with the S&P 500 down 19.2 points, or 0.2%, to 7,711.8, as moves in the bond market pointed to growing expectations of near-term Fed rate hikes.

Latest closeS&P 500 7,711.76 ▼0.2%

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