The Week Ahead For August 2nd to 6th
The S&P 500, Dow Jones Industrial Average, Russell 2000 and NASDAQ 100 were lower for the week with the exception of the Russell 2000.
1.Geopolitical and Fiscal Events. The powers that be are on vacation in Washington D.C. for the month, doing what they do best –nothing.
2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as ISM Manufacturing Index, construction spending, factory orders, ADP Employment Index, ISM Non-Manufacturing Index, nonfarm Payrolls and the unemployment rate.
3.Earnings Releases. Notable releases this upcoming week include GPN NXPI BABA LLY CVS BKNG SQ ZTS D VTR.
Monday, August 2nd
July ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to rise to 60.70% from 60.60%.
July Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.5% from -0.3%.
Tuesday, August 3rd
June Factory Orders are due out at 10:00 a.m. EDT and are expected to come in at 1.0% from 1.7% in May.
Wednesday, August 4th
July ADP Employment Report is due out at 8:15 a.m. EDT and is expected to come in at 650,000 from 692,000.
July ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to come in at 60.5% from 60.10%.
Thursday, August 5th
None of note.
Friday, August 6th
July Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to rise to 925,000 from 850,000.The unemployment rate is expected to fall to 5.6% from 5.9%.