Wall Street to Watch Key Economic Indicators Ahead of August Employment Report

Here is a look at Wall Street for this week.

The stock market is expected to fluctuate depending on key economic indicators, including the ISM manufacturing Purchasing Managers' Index (PMI) scheduled for September 1, Broadcom's earnings on September 2, and the August employment report on September 4.

Late last week, the three major U.S. stock indices all closed lower.

Notably, the Nasdaq underwent a correction, falling by 0.5%.

The market's primary focus is the August employment report set for release on the 4th. Unlike July, when nonfarm employment declined and recorded an "employment shock," August is estimated to have returned to growth.

However, as Federal Reserve Chair Kevin Warsh stated a hardline stance against inflation during his recent keynote speech at the Jackson Hole symposium, a stronger-than-expected labor market could raise the likelihood of a September rate hike.

On the 1st, the July Job Openings and Labor Turnover Survey (JOLTS) and the August ISM manufacturing PMI will be released, along with earnings reports from Dell and Palo Alto Networks.

On the 2nd, the Federal Reserve's Beige Book, a report on economic conditions, will be released, offering a gauge of private-sector economic activity and price pressures.

Regarding corporate developments, Broadcom is drawing attention as it releases its earnings on the 2nd.

This will serve as a gauge to see whether the strong AI growth outlook previously presented by Nvidia will spread across the broader semiconductor sector.

Amid a continuous series of speeches by Fed governors, the market is also paying close attention to remarks from Governor Christopher Waller, who holds significant influence over the market.
※ Please note: This article was translated by AI and may contain errors.