Oil Drops, Manufacturing Data Ahead, Jobs Report Friday
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks ended higher Friday as strong Amazon earnings outweighed a drop in Apple. Amazon jumped more than 15% after posting strong quarterly revenue growth, lifting the S&P 500 0.7%, the Nasdaq 1.0% and the Dow 0.5%. Apple fell 7.4% after warning supply constraints could slow growth. Both companies are major components of retirement accounts and index funds, making their earnings closely watched by investors.
Treasury yields remained elevated, with the 10-year ending near 4.71%, its highest level since January 2025, as investors weighed inflation risks and last week’s Federal Reserve decision to leave rates unchanged. Higher Treasury yields can keep borrowing costs elevated for mortgages and other loans.
Today’s Focus: Oil is in focus after crude prices fell more than 5% overnight following President Trump’s announcement that the U.S. would hold off on additional strikes against Iran. OPEC+ also approved a production increase of about 188,000 barrels per day beginning in September.
The Japanese yen strengthened after the U.S. and Japan confirmed a rare coordinated currency intervention, while Treasury yields eased in early trading.
Investors will also watch the final July S&P Global Manufacturing PMI followed by the ISM Manufacturing Index. Friday’s July employment report remains the week’s biggest economic event.
ON THE SCHEDULE FOR THE WEEK OF MONDAY, AUGUST 3, 2026
-9:45 a.m. ET – Final S&P Global U.S. Manufacturing PMI (July)
-10:00 a.m. ET – ISM Manufacturing PMI, June construction spending
-3:00 p.m. ET – Treasury quarterly borrowing estimates, ahead of Wednesday’s refunding announcement
-Earnings: Tyson Foods, Marriott, Palantir
-Tuesday, 10:00 a.m. ET – JOLTS (June) and factory orders
-Earnings: AMD, McDonald’s, Merck
-Wednesday, 8:15 a.m. ET – ADP employment report
-Wednesday 8:30 a.m. ET – Treasury quarterly refunding announcement
-Wednesday, 10:00 a.m. ET – ISM Services PMI
-Earnings: Disney, Uber, Airbnb, Warner Bros. Discovery
-Thursday, 8:30 a.m. ET – Weekly jobless claims; second-quarter productivity and unit labor costs
-Friday, 8:30 a.m. ET – July employment report
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