US Stocks Face Jobs Data and a Blockbuster Earnings Week as SpaceX Makes Its Post-IPO Debut

Global markets are entering a decisive week packed with US employment data, purchasing managers’ indexes and quarterly results from some of Wall Street’s most closely watched companies. The July nonfarm payrolls report, ADP private-sector employment figures and ISM business surveys will help investors assess the strength of the US economy and the likelihood of another Federal Reserve rate increase in September.

The earnings calendar is equally crowded. Palantir, AMD, Sandisk and newly listed SpaceX will put valuations tied to artificial intelligence, data-center investment and the space economy under renewed scrutiny. Caterpillar, Disney, Uber, Eli Lilly, Datadog and Lyft will provide additional evidence on industrial demand, consumer spending, travel, cloud computing and obesity-drug sales.

July Jobs Report Could Reprice Federal Reserve Expectations

The US Bureau of Labor Statistics will release the July employment report at 8:30 a.m. Eastern Time on Friday, August 7. The report will include nonfarm payroll growth, the unemployment rate, labor-force participation and average hourly earnings. The date is confirmed by the official BLS release calendar.

Economist forecasts vary, but most estimates call for payroll growth of roughly 85,000 to 100,000. A Bloomberg survey cited by the Financial Times points to approximately 90,000 new jobs, following an increase of only 57,000 in June. Expectations for the unemployment rate range from an unchanged 4.2% to an increase to 4.3%. The Financial Times reported that investors are particularly focused on whether modest hiring would support another pause in rate increases.

The Federal Reserve left its benchmark rate unchanged at 3.5%–3.75% at its July meeting. However, three officials dissented in favor of a quarter-point increase, revealing a wider internal divide over persistent inflation. The Federal Reserve’s July policy statement maintained that future decisions would depend on incoming economic data and changes in the balance of risks.

Stronger-than-expected employment and wage growth could reinforce the case for another rate increase in September. That outcome may push Treasury yields and the US dollar higher, while placing pressure on gold and expensive technology stocks.

A substantially weaker payroll figure, accompanied by a larger-than-expected rise in unemployment, could reduce expectations for further tightening. However, markets may not automatically welcome very soft data because it could intensify concerns about a sharper economic slowdown. The reaction will depend on whether investors view inflation or weakening growth as the more serious risk.

ADP Employment and ISM Surveys Will Test Economic Resilience

Investors will receive several important indicators before Friday’s government employment report. The July ADP private-sector employment figures are scheduled for Wednesday, August 5, following an increase of 98,000 jobs in June.

The Institute for Supply Management will publish its July Manufacturing PMI on Monday, August 3, followed by the Services PMI on Wednesday, August 5. The ISM release calendar confirms that the manufacturing report is released on the first business day of each month and the services report on the third business day.

For manufacturing, investors will examine the new orders, production and employment indexes for signs of changes in capital expenditure and demand for goods. The prices-paid component will also be closely monitored because higher oil, transportation and raw-material costs could revive concerns about goods inflation.

Services account for a much larger share of US economic activity. As a result, the employment and prices components of the Services PMI may have a stronger influence on interest-rate expectations. Simultaneous expansion in manufacturing and services, combined with rising price pressures, could lead markets to price in a greater probability of additional monetary tightening.

Palantir, AMD and Sandisk Put AI Valuations Under Scrutiny

Palantir will begin the week’s major AI earnings on Monday, August 3, after the US market closes. The company will hold its earnings webcast at 5:00 p.m. Eastern Time, according to its official earnings announcement.

Wall Street expects Palantir to report approximately $1.81 billion in revenue, representing growth of about 81%, alongside adjusted earnings of $0.34 per share. Investors will focus on US commercial revenue, government contracts and new orders generated through the company’s Artificial Intelligence Platform.

Palantir’s remaining performance obligations and any changes to full-year guidance may be particularly important. The company remains one of the most highly valued names in enterprise AI software, meaning a conventional revenue and earnings beat may not be enough if bookings or expected growth begin to slow.

AMD will report after the closing bell on Tuesday, August 4. The chipmaker expects quarterly revenue of approximately $11.2 billion, plus or minus $300 million, while analysts forecast about $11.3 billion and adjusted earnings of $1.61 per share. AMD has also projected a non-GAAP gross margin of around 56%. The reporting schedule is confirmed by AMD’s investor relations announcement.

Data-center revenue, shipments of Instinct AI accelerators and demand for EPYC server processors will be the main areas of attention. AMD’s Data Center segment generated $5.8 billion in first-quarter revenue, an increase of 57% from the previous year, establishing it as the company’s largest growth driver.

A strong AI-chip result and an improved second-half outlook could support the broader semiconductor sector. Slower orders, delayed product deliveries or disappointing margins could instead deepen concerns about whether returns from the technology industry’s enormous AI capital expenditures will meet expectations.

Sandisk will release its fiscal fourth-quarter and full-year 2026 results after the market closes on Wednesday, August 5. The timing was confirmed in the company’s earnings announcement.

Investors will examine revenue, adjusted earnings and gross margin, together with management’s outlook for NAND flash pricing, supply-demand conditions and shipments in the new fiscal year. Enterprise solid-state drives, data-center storage and high-capacity NAND products will be central to determining whether AI infrastructure demand is translating into higher-quality growth for memory and storage suppliers.

SpaceX Prepares for Its First Quarterly Report Since Going Public

SpaceX will publish its second-quarter financial and operational results after the market closes on Tuesday, August 4. Management will hold a webcast at 4:30 p.m. Eastern Time. The event will be SpaceX’s first quarterly earnings report since the company completed its June IPO and began trading under the ticker SPCX. SpaceX confirmed the reporting schedule on July 20.

Starlink will be the most closely watched part of the report. Investors will look for updated subscriber numbers, satellite-internet revenue, pricing trends and progress in aviation, maritime and direct-to-device services. Starlink had approximately 10.3 million subscribers across 164 countries at the end of the first quarter.

The market will also assess SpaceX’s launch frequency, government contracts and spending on the Starship program. Management’s comments on upcoming Starship tests, orbital data centers and the company’s AI-related operations could materially affect investor sentiment.

Cash flow may be especially important after SpaceX reported $10.1 billion in first-quarter capital expenditure, including about $7.7 billion directed toward AI infrastructure. The company generated $4.7 billion in Q1 revenue but recorded a net loss of approximately $4.3 billion.

SpaceX shares have experienced substantial volatility since the listing. Evidence of stronger recurring revenue, improving cash generation and a credible commercialization strategy could support the stock. Rapidly increasing research and capital costs may instead intensify concerns about future financing requirements and potential share-supply pressure.

Caterpillar Offers a Read on Global Industrial Demand

Caterpillar will release its second-quarter results before the market opens on Tuesday, August 4, followed by an earnings call at 8:30 a.m. Eastern Time. The company’s announcement confirms the reporting schedule.

Performance across Construction Industries, Resource Industries and Power & Energy will provide evidence on infrastructure activity, mining investment and demand for industrial equipment. Investors will also examine dealer inventories, order levels and the company’s full-year outlook.

Raw-material prices, tariffs and transportation expenses could place pressure on profitability. Stable orders and guidance may ease concerns about a global manufacturing slowdown, while weaker demand or rising costs could reinforce the caution signaled by other industrial indicators.

Disney, Uber and Eli Lilly Put Consumers and Healthcare in Focus

Disney, Uber and Eli Lilly will report on Wednesday, August 5.

Disney’s fiscal third-quarter webcast will begin at 8:30 a.m. Eastern Time, according to the company’s investor calendar. Investors will focus on streaming profitability, subscriber trends, theme-park attendance and spending, sports-media performance and the continuing decline of traditional television.

The central question is whether improvements in Disney’s streaming operations and parks business can offset pressure on linear networks. Consumer spending at domestic parks could also provide a broader signal about discretionary demand.

Uber will discuss its second-quarter results at 8:00 a.m. Eastern Time. The official Uber announcement confirms the August 5 call.

Gross bookings, mobility trips, delivery growth, margins and free cash flow will be the primary financial indicators. Investors will also seek more detail about Uber’s autonomous-driving partnerships and whether self-driving vehicles could change its long-term cost structure or competitive position.

Eli Lilly’s report will centre on demand for diabetes treatment Mounjaro and obesity drug Zepbound. Sales growth, manufacturing capacity, product availability and full-year guidance will determine whether Lilly can maintain its momentum as competition in the weight-loss drug market increases. Updates on the company’s development pipeline will also influence expectations for long-term growth.

Datadog and Lyft Complete the Week’s Major Earnings Schedule

Datadog will report before the market opens on Thursday, August 6, followed by a conference call at 8:00 a.m. Eastern Time. The company’s results will provide another measure of enterprise cloud spending, growth in AI workloads and customer cost-optimization activity. Datadog confirmed the date on July 16.

Analysts expect revenue of roughly $1.08 billion and adjusted earnings of $0.58 per share. Investors will examine customer growth, spending by large clients and demand for tools that monitor increasingly complex cloud and AI infrastructure.

Lyft will release its results after the closing bell on August 6 and hold its conference call at 5:00 p.m. Eastern Time, according to the company’s investor relations announcement.

Active riders, gross bookings, insurance expenses and margins will be compared directly with Uber’s performance one day earlier. Any changes in rider demand, driver incentives or autonomous-vehicle strategy could shape expectations for Lyft’s ability to compete while expanding profitability.

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