HomeTecStocksWeak Ahead 08/02-06

Weak Ahead 08/02-06

All major indices were down last week, especially decline started after Thursday earning reports. The S&P 500 lost 0.4% in the past week reaching 4,395, while the Nasdaq lost 1.1% at 14,672. Futures were up about 0.4% on Sunday evening trading session, seemed to indicate that investors are positive about the next week.

July employment report publishing on Friday will have significant impact on market move. Estimated employment number is 788K nonfarm payrolls, lower than 850,000 in June, according to Dow Jones. The unemployment rate is expected to go down to 5.7% from 5.9%. Average hourly wages are expected to rise 3.9% YoY. I think good news on this would be a bas news for the market and vice-versa. Higher employment numbers might jumptstart the discussion of tapering, which may spook the market.

CNBC: https://www.cnbc.com/2021/07/30/july-jobs-report-could-be-what-gives-the-market-its-next-big-jolt-in-the-week-ahead.html

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