Investors are planning for another busy week with corporate earnings continuing and the July U.S. jobs report due out later in the week that is expected to move the market as investors weigh the health of the U.S. labor market.
Apple posts 3rd quarter corporate earnings on Tuesday August 1st. The consensus EPS forecast for the quarter is $1.57, according to Zaks Investment research. Apple posted EPS of $1.42 in the same quarter a year ago.
During Apple’s earnings call, company executives may shed some more light about the upcoming release date of the iPhone 8 which is expected to be unveiled towards the end of the year.
Later this week, investors will pay close attention to a private sector July payroll report from private payroll processor ADP on Wednesday, followed by the July non-farm payroll report on Friday from the U.S. Bureau of Labor Statistics.
Some of the other economic data that is expected to move the market this week includes IHS Markit Manufacturing PMI data for the U.S., Canada, and the 19 member euro area released on Tuesday, the same day the U.S. ISM index is reported, and the Federal Reserve’s preferred inflation gauge, PCE, is due for June from the U.S. Bureau of Economic Analysis.
Inflation has fallen short of the Federal Reserve’s 2 percent inflation target in recent months with Core PCE inflation for May dropping below 1.5 percent for the first time since the end of 2015 and came in at 1.4 percent.
Construction spending for June and auto/truck sales for July is also reported on Tuesday.
Factory orders for June is due on Thursday, the same day the Bank of England makes an interest rate decision.
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