Earnings Season Continues — Your Trading Week Ahead

Welcome to Your Trading Week Ahead for August 1st. Here’s what you need to know before you go…

Quick recap

Equity markets briefly touched new all-time highs amid a jam-packed earnings week. But the major indices ultimately pulled back heading into the weekend after a few tech giants like Amazon ($AMZN) failed to meet Wall Street’s lofty expectations.

The S&P 500 still managed to finish the week higher by 1.57% at 4,395. The Dow lagged a bit, closing down 0.36% at 34,935. The Nasdaq fared the worst following last week’s big tech earnings, closing at 14,672 — down 1.11% from the previous week.

What to watch this week

Friday’s jobs report

The U.S. Labor Department’s non-farm payrolls report for July will be released on Friday. It’ll be the most closely watched economic print this week.

Economists anticipate an increase in non-farm payrolls of 900,000 for the month of July. That would make it the largest monthly gain since August 2020 and an increase of 50,000 from last month’s report.

The employment data is critical and will give us an important glimpse at how the U.S. economy is recovering.

Earnings roundup

While last week was arguably the biggest for earnings this cycle, there are a ton of popular stocks still left to report.

Here’s some of the most noteworthy reports to keep an eye on:

• Monday – Diamondback Energy ($FANG), Global Payments ($GPN), HSBC Holdings ($HSBC), Mosaic ($MOS), NXP Semiconductors ($NXPI), Omega Healthcare Investors ($OHI), Simon Property Group ($SPG), Take-Two Interactive Software ($TTWO), Transocean ($RIG)
• Tuesday – Activision Blizzard ($ATVI), Alibaba ($BABA), Amgen ($AMGN), Avis Budget Group ($CAR), Blue Apron Holdings ($APRN), BP ($BP), Caesars Entertainment ($CZR), Clorox ($CLX), ConocoPhillips ($COP), Discovery ($DISCA), DuPont ($DD), Eli Lilly ($LLY), Hyatt Hotels ($H), Live Nation Entertainment ($LYV), Lyft ($LYFT), Marriott International ($MAR), Match Group ($MTCH), Microchip Technology ($MCHP), Nikola ($NKLA), Phillips 66 ($PSX), Ralph Lauren ($RL), SunPower ($SPWR), Under Armour ($UAA)
• Wednesday – Etsy ($ETSY), Apollo Global Management ($APO), Booking Holdings ($BKNG), CVS Health ($CVS), Electronic Arts ($EA), Exelon ($EXC), Fastly ($FSLY), General Motors ($GM), Hostess Brands ($TWNK), HubSpot ($HUBS), Jack in the Box ($JACK), Kraft Heinz ($KHC), Lemonade ($LMND), Lumber Liquidators Holdings ($LL), Marathon Oil ($MRO), McKesson ($MCK), MetLife ($MET), MGM Resorts International ($MGM), Roku ($ROKU), Royal Caribbean ($RCL), Sturm Ruger ($RGR), Toyota Motor ($TM), Uber Technologies ($UBER), Western Digital ($WDC)
• Thursday – Square ($SQ), Amarin ($AMRN), American International Group ($AIG), Beyond Meat ($BYND), Carvana ($CVNA), Consolidated Edison ($ED), Dropbox ($DBX), Duke Energy ($DUK), Expedia Group ($EXPD), FireEye ($FEYE), Fisker ($FSR), Kellogg ($K), Moderna ($MRNA), Penn National Gaming ($PENN), TripAdvisor ($TRIP), ViacomCBS ($VIAC), Virgin Galactic Holdings ($SPCE), Wayfair ($W), Zynga ($ZNGA)
• Friday – Canopy Growth ($CGC), Cinemark Holdings ($CNK), DraftKings ($DKNG), Norwegian Cruise Line Holdings ($NCLH)

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• Markit manufacturing PMI (July) – Monday at 9:45am ET
• ISM manufacturing index (July) – Monday at 10am ET
• Factory orders (June) – Tuesday at 10am ET
• Core capital goods orders (June) – Tuesday at 10am ET
• ADP employment report (July) – Wednesday at 8:15am ET
• Markit services PMI (July) – Wednesday at 9:45am ET
• ISM services index (July) – Wednesday at 10am ET
• Initial and continuing jobless claims – Thursday at 8:30am ET
• Trade balance (June) – Thursday at 8:30am ET
• Nonfarm payrolls and unemployment rate (July) – Friday at 8:30am ET
• Consumer credit (June) – Friday at 3pm ET

Tony Dwyer joins the Rebellion Roundtable

Join us Monday after the close when Jon, Pete, and the Rebel traders sit down with Canaccord’s Tony Dwyer for another Rebellion Roundtable.

They’ll dive into the bull markets can’t stop, won’t stop attitude and where they think we’re headed next. You won’t see this FREE livestream anywhere else. Click here to reserve your seat.

Interested in learning how you can use the power of unusual options activity to conquer the market? Click here to download our Insider’s Guide to Trading UOA.