Markets Rally, Treasury Refunding, Services PMI
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Wall Street rallied Tuesday, sending the Dow and S&P 500 to record closes. The Dow gained 1.7%, the S&P 500 rose 1.8%, and the Nasdaq jumped 2.6% as strong earnings from companies, including Palantir and Caterpillar, fueled investor optimism.
Crude oil prices fell about 5% on hopes that a diplomatic agreement with Iran could lead to the reopening of the Strait of Hormuz. Treasury yields also moved lower as investors weighed easing energy prices alongside signs of a steady labor market.
The Labor Department’s monthly Job Openings and Labor Turnover Survey (JOLTS) showed job openings edged down to 7.4 million in June, while hiring and layoffs changed little, pointing to a relatively stable labor market.
Today’s Focus: Wednesday brings three key releases ahead of Friday’s jobs report.
The ADP National Employment Report is due at 8:15 a.m. ET, offering a fresh look at private-sector hiring. At 8:30 a.m. ET, the Treasury Department releases its quarterly refunding announcement, including auction sizes and financing plans.
At 10 a.m. ET, the Institute for Supply Management releases its July Services PMI. Markets will focus on the employment and prices components for clues about hiring and inflation across the services sector.
Together, today’s releases will provide a fresh look at hiring, service-sector inflation and federal borrowing ahead of Friday’s closely watched employment report.
ON THE SCHEDULE FOR WEDNESDAY, AUGUST 5, 2026
-8:15 a.m. ET – ADP employment report
-8:30 a.m. ET – Treasury quarterly refunding announcement
-10:00 a.m. ET – ISM Services PMI
-Earnings: Disney, Uber, Eli Lilly
-Thursday, 8:30 a.m. ET – Weekly jobless claims; second-quarter productivity and unit labor costs
-Earnings: Airbnb, Warner Bros. Discovery
-Friday, 8:30 a.m. ET – July employment report
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