This week on Wall Street, the key variables are projected to be the June Job Openings and Labor Turnover Survey (JOLTS) releasing on the 4th, earnings reports from SpaceX and AMD, and the July employment report scheduled for the 7th.
Over the past weekend, the three major U.S. stock indices rebounded across the board for the second consecutive day.
In particular, the Nasdaq index rose by 1%, while the S&P 500 and the Dow Jones Industrial Average gained 0.7% and over 0.5%, respectively.
The market this week is expected to closely watch the earnings of major technology companies.
Attention is focused on SpaceX, which will release its first earnings report after going public after the market close on the 4th, as well as AMD's performance, which will influence the overall trend of AI beneficiaries.
In addition, the July employment report to be released on the 7th serves as a core data point to gauge the Federal Reserve's future rate path.
Inflationary concerns are rearing their head again as the issue of U.S. Strategic Petroleum Reserves falling to a 43-year low overlaps.
Key schedule highlights include the July ISM Manufacturing PMI on the 3rd, the ADP private employment report and July Services PMI on the 5th, along with earnings from semiconductor firm SanDisk and pharmaceutical company Eli Lilly.
On the 6th, the expiration of SpaceX's initial lock-up period is scheduled.
This week is expected to see high volatility driven by a combination of large-cap tech earnings, major employment indicators, and geopolitical variables.
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