So what is the earnings calendar looking like for the new trading week?

With Microsoft, Apple, Amazon, Meta, Alphabet, Boeing, Intel, Netflix, all the major banks and financial institutions, Merck, Bristol Meyers Squibb, AMD, Nvidia, Exxon Mobile, Chevron, GE, P&G already all reporting, what is left?

Below is a list of some secondary earnings scheduled to be reported in the new trading week:

Monday, August 1

  • Activision Blizzard

Tuesday, August 2

  • AirBNB
  • Uber
  • Starbucks
  • Caterpillar

Wednesday, August 3

  • UnderArmour
  • CVS
  • Bookings Holdings
  • MGM Resorts

Thursday, August 4

  • Warner Bros.
  • Lyft
  • Block
  • Amgen

Friday, August 5

  • Western Digital
  • DraftKings

Saturday August 6

  • Berkshire Hathaway

Probably, the most eye-catching would be the Berkshire Hathaway traditional meeting on Saturday when the markets closed. “Buffett Heads” meeting Omaha to hear him speak along with his long time sidekick Charlie Munger.

Apart from that, Starbucks and Caterpillar give a view of the consumer and of the construction industry respectively. Is the consumer slowing down the discretionary purchases of coffee or is demand inelastic to inflation? Higher rates, are meant to slow down home prices. How has that impacted the construction industry.

Key events and releases next week highlighted by the US employment & rate decisions

With the month of July ending today, next week will start the new trading week for August. Still a summer month, trading may be impacted by vacation/holidays. Nevertheless there is enough data events scheduled including key jobs reports that of Canada and US, and interest rate decisions by the Reserve Bank of Australia and the Bank of England.

Below is a list of the major releases and events:

Monday, August 1

  • US ISM manufacturing PMI. 10 AM ET. The estimate is 52.3 vs. 53.0 last month

Tuesday, August 2

  • Reserve Bank of Australia interest rate decision. 12:30 AM ET. Expectations is for a hike of 50 basis points to 1.85% from 1.35%
  • JOLTs job openings, 10 AM ET, estimate 10.99 million vs. 11.25 million last month

Wednesday, August 3

  • Spain’s services PMI. 3:15 AM. Estimate 52.0 vs. 54.0 last month
  • New Zealand employment change for the quarter. 6:45 PM on Tuesday in the US. Estimate 0.5% vs. 0.1% last quarter
  • Swiss CPI month-to-month. 2:30 AM ET. Estimate -0.1% vs. 0.5% last month
  • ISM services PMI. 10 AM ET. Estimate 53.9 vs. 55.3 last month

Thursday, August 4

  • Bank of England interest rate decision. 7 AM ET. Estimate expectations are for a 50 basis point hike to 1.75% from 1.25%
  • Bank of England Gov. Bailey press conference. 7:30 AM ET
  • Fed’s Mester speaks. 12 ET PM

Friday, August 5

  • Reserve Bank of Australia Monetary policy statement. 9:30 PM ET (Thursday)
  • Canada employment change, 8:30 AM ET. Estimate 18.2K vs. -43.2K last month. Unemployment rate 5.0% vs. 4.9% last month.
  • US nonfarm payroll change. 8:30 AM ET. Estimate 250K vs 372K last month. Unemployment rate 3.6% vs. 3.6% last month. Average hourly earnings 0.3% vs. 0.3% last month

US stocks close the month with strong gains

The major stock indices are ending with solid gains for the day:

  • Dow industrial average rose 315.50 points or 0.97% at 32845.14
  • S&P index rose 57.86 points or 1.42% at 4130.28
  • NASDAQ index rose 228.10 points or 1.8% at 12390.70. That’s a largest increase cents April 2020
  • Russell 2000 rose 12.20 points or 0.65% at 1885.23

For the trading month the average had their best month of the year:

  • Dow industrial average rose 6.73%
  • S&P index rose 9.12% which was the best month since November 2020
  • NASDAQ index rose 12.35%.

For the trading week.

  • Dow industrial average rose by 2.97%
  • S&P index rose 4.26%
  • NASDAQ index rose 4.7%

Some pretty good numbers for the day, week and month for the major indices. Moreover, the gains were made despite a 75 basis point hike and the earnings calendar.

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