Monday's Market Minute: A Busy Week On Wall Street

We begin the month of August with a busy week on Wall Street after stocks closed out July with the largest gains we’ve seen in a year and a half. Investors are cheering on results from just over 50% of the S&P 500 companies reporting, as half have exceeded expectations. This has helped the S&P's rally after the June low around 3,639, but the index still remains short of taking out the June highs up around 4,200. This week we’ll hear from Airbnb ABNB, Lyft LYFT, Uber UBER, AMD AMD, Caterpillar CAT, Yum! Brands YUM, and Starbucks SBUX, to name a few.

This week, the primary focus will be nonfarm payrolls due out Friday as investors and traders look for further insight into how labor conditions are holding up in a higher rate environment. Also keep an eye on the ISM manufacturing data to begin the week, Jolts on Tuesday, Factory Orders on Wednesday, and Challenger Job Cuts and the weekly Jobless Claims on Thursday.

Lastly, in addition to nonfarm payrolls and the other data due out mentioned above, with crude oil hanging out at $100 a barrel this week, energy traders will be focusing on the production side. We’ll hear from OPEC Wednesday; they’re expected to leave production at current levels.

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