Key Events for the Upcoming Week
The nonfarm payrolls report will be released on Friday, with data expected to show slight improvement.
Next week, market focus will center on the July nonfarm payrolls report due Friday—the first comprehensive employment data release following the Federal Open Market Committee's (FOMC) decision to hold rates steady in July—which will shape market pricing of interest rate expectations for September.
Following June’s disappointing gain of 57,000 jobs, analysts forecast a modest improvement in July, with an increase of 90,000 jobs. However, the unemployment rate is expected to edge up slightly from 4.2% to 4.3%. Any reading above 100,000 could bolster confidence in the labor market and reinforce bets on a September rate hike. Conversely, a second consecutive negative surprise would raise doubts about hiring momentum and prompt investors to scale back rate hike expectations.
In addition, the ADP employment report and initial jobless claims will be released on August 5 and 6, respectively, offering early signals on the labor market ahead of the nonfarm payrolls report. The ISM Manufacturing and Services PMIs will also be published on August 3 and 5, providing a fuller picture of July’s economic conditions.
SpaceX’s first-ever financial report is set to be released, coinciding with earnings announcements from SanDisk and Western Digital on the same day.
On the earnings front, on Monday, big data analytics firm $Palantir (PLTR.US)$ will report its results. As one of the stocks most visibly propelled by the AI wave, whether Palantir’s revenue growth can justify its currently elevated valuation will directly reflect the real-world traction of AI applications. Investors will closely monitor contract expansions among government and commercial clients, progress in deploying its AIP platform, and whether full-year guidance is raised. Given recent stock price volatility, elevated post-earnings volatility is anticipated.
Then on Tuesday, semiconductor giant $Advanced Micro Devices (AMD.US)$ will deliver what is expected to be the week’s marquee earnings report. Following upbeat signals last week from memory chip leaders, AMD’s performance will serve as a key barometer of sustained demand for AI chips.
In addition, Musk's …$SpaceX (SPCX.US)$ It will also release its first financial report since going public, followed two days later (August 6) by the unlocking of as many as 911.5 million shares—an event that will mark the largest single-stock lock-up expiration in U.S. stock market history, posing a liquidity stress test for SpaceX and Nasdaq.
On Wednesday, market attention will shift to the healthcare and storage sectors, Eli Lilly and Co (LLY.US),、 $Novo-Nordisk A/S (NVO.US)$ whose earnings reports will reveal the latest developments in the weight-loss drug market.
$SanDisk (SNDK.US)$、 $Western Digital (WDC.US)$Their earnings reports will directly impact sentiment in the storage sector. SanDisk previously experienced significant volatility due to expectations around AI-driven storage demand, and the market anticipates its revenue and profits will benefit from enterprise SSD and HBM-related demand. Western Digital, meanwhile, will be watched for its balance between HDD and flash memory businesses and the sustainability of data center storage demand.
DeepSeek-V4-Flash official version is now in public beta and will be released as soon as possible.
On July 31, DeepSeek released an update log announcing that the DeepSeek-V4-Flash official version API has entered public beta. The model architecture and size of DeepSeek-V4-Flash-0731 remain consistent with DeepSeek-V4-Flash-preview, with only retraining applied. The official version of DeepSeek-V4-Pro will be released as soon as possible.
Ai4 2026 will take place from August 4–6.
North America’s largest AI industry summit will be held from August 4 to 6, covering the entire AI value chain. On August 5, Geoffrey Hinton, Fei-Fei Li, and Andrew Ng—three pioneers of AI—will appear together on stage for the first time. Industry leaders across the full AI ecosystem, including NVIDIA, Google, Microsoft, Meta, and Samsung, will all be in attendance.
The MS 2026 Flash Memory Summit will be held from August 4–6.
The flagship global storage industry summit, held for twenty years, will take place from August 4 to 6. Samsung EVP Lee Jin-yeok will deliver a keynote address on August 4, where the company is expected to unveil its technology roadmap for next-generation HBM4E and V-NAND. Full delegations from SK hynix, Kioxia, Micron, and Western Digital will also attend.
China's July inflation data will be released next Sunday.
On August 9, China will release its July CPI and PPI data, which will test the trajectory of prices following the Politburo meeting. In June, CPI rose 1.0% year-on-year, while PPI increased 4.1% year-on-year. China’s July trade data and foreign exchange reserves will also be published simultaneously on August 7.
Key earnings calendar for the new week.
[Related Reading][Contest] Key market sectors face a test! SpaceX, AMD, SanDisk, Circle, and Palantir all report earnings—weekly earnings roundup (August 3–7).
Monday (August 3)
Keywords: U.S. July ISM Manufacturing PMI; earnings reports from Palantir, ON Semiconductor, and Wuxi Apptec
On the economic data front, China’s July RatingDog Manufacturing PMI and the U.S. July ISM Manufacturing PMI will be released.
09:45 China July RatingDog Manufacturing PMI
16:00 Eurozone July Manufacturing PMI Final
22:00 U.S. July ISM Manufacturing PMI; U.S. June Construction Spending MoM
On the earnings front, Hong Kong-listed stocks $Wuxi Apptec(02359.HK)$Release latest earnings results.
U.S. stocks EchoStar Corporation (ECHO.US) 、 Luckin Coffee (LKNCY.US) will release their latest earnings before the market opens, $Palantir (PLTR.US)$、 $ON Semiconductor (ON.US)$、 $Snap Inc (SNAP.US)$ and report earnings after the market close.
Tuesday (August 4)
Key highlights: SpaceX, AMD, HSBC Holdings earnings; U.S. June JOLTs Job Openings
On the economic data front, the U.S. June JOLTs Job Openings (in thousands) and the U.S. June Factory Orders MoM will be released.
20:30 U.S. June Trade Balance (in billions of USD)
22:00 U.S. June JOLTs Job Openings (in thousands), U.S. June Factory Orders MoM
On the earnings front, Hong Kong-listed stocks $HSBC Holdings (00005.HK)$、 $Techtronic Industries (00669.HK)$ will release earnings reports.
U.S. stocks $McDonald's (MCD.US)$、 $Caterpillar(CAT.US)$、 $Pfizer (PFE.US)$、 $Hut 8 (HUT.US)$、 $Cipher Digital (CIFR.US)$ 、 $Merck (MRK.US)$ 、 $Spotify Technology(SPOT.US)$ released its latest earnings before the market open, $SpaceX (SPCX.US)$、 $Advanced Micro Devices (AMD.US)$、 $Astera Labs(ALAB.US)$、 $Arista Networks(ANET.US)$、 $Kratos Defense & Security Solutions (KTOS.US)$ will release its earnings report after the market close.
Wednesday, August 5
Key highlights: SanDisk, Western Digital, Circle, Applovin earnings; U.S. July ADP employment change
On the economic data front, the U.S. July ADP employment change and the U.S. July ISM Services PMI will be released.
16:00 Final Eurozone July Services PMI
16:30 Final UK July Services PMI
20:15 U.S. July ADP Employment Change (in thousands)
21:45 U.S. July S&P Global Services PMI Final
22:00 U.S. July ISM Non-Manufacturing PMI
22:30 U.S. Weekly EIA Crude Oil Inventories for Week Ending July 31 (in 10,000 barrels)
On the earnings front, Hong Kong-listed stocks $Cathay Pacific Airways Limited (00293.HK)$ 、 $BeiGene (06160.HK)$ will release earnings reports.
The US stock market$Circle(CRCL.US)$ 、 $GlobalFoundries(GFS.US)$ 、 $Vishay Intertechnology(VSH.US)$ 、 Eli Lilly and Co (LLY.US), 、 $Disney(DIS.US)$ 、 $Novo-Nordisk A/S (NVO.US)$ will release earnings before the market opens, $SanDisk (SNDK.US)$、 $Western Digital (WDC.US)$、 $Occidental Petroleum (OXY.US)$、 $Applovin (APP.US)$、 $IonQ Inc(IONQ.US)$、 $TTM Technologies(TTMI.US)$、 $Figma Inc(FIG.US)$ and report earnings after the market close.
Thursday (August 6)
Keywords: AAOI earnings; SpaceX sanctions lifted; U.S. Initial Jobless Claims for Week Ending August 1
On the economic data front, the U.S. Challenger job cuts for July and the initial jobless claims for the week ending August 1 will be released.
17:30 U.S. Challenger job cuts for July (in 10,000s)
20:30 U.S. initial jobless claims for the week ending August 1 (in 10,000s)
22:00 U.S. Global Supply Chain Pressure Index for July and U.S. wholesale sales month-over-month for June
On the key events front, SpaceX will see its first tranche of lock-up shares expire, amounting to as many as 911.5 million shares. At the latest share price of $108.37, the potential value approaches $100 billion.
On the earnings front, Hong Kong-listed stocks $MGM China (02282.HK)$ 、 Zai Lab Limited (Stock Code: 09688.HK) will release earnings reports.
The US stock market$Datadog(DDOG.US)$, 、 $D-Wave Quantum(QBTS.US)$ 、 $Energy Fuels (UUUU.US)$ 、 $ConocoPhillips (COP.US)$、 $Unity Software (U.US)$ will release earnings before the market opens, $Applied Optoelectronics (AAOI.US)$、 $MP Materials (MP.US)$、 $Atlassian(TEAM.US)$ 、 $Rigetti Computing (RGTI.US)$ 、 $CleanSpark(CLSK.US)$ 、 $MARA Holdings (MARA.US)$ and report earnings after the market close.
Regarding IPOs, $Narxen Tech (02261.HK)$ Dark pool trading opens at 16:15.
Friday (August 7)
Keywords: Julynon-farm payroll data; Musalem and Barkin to speak; Oklo Inc earnings report
On the economic data front, the U.S. unemployment rate for July, U.S. nonfarm payrolls for July (seasonally adjusted), and the New York Fed’s one-year inflation expectations for July will be released.
20:30 U.S. unemployment rate for July, U.S. nonfarm payrolls for July (seasonally adjusted, in ten thousands)
23:00 New York Fed one-year inflation expectations for July
On the major events front, Federal Reserve officials Musalem and Barkin will deliver speeches.
05:30 Musalem, President of the St. Louis Fed and FOMC voter in 2028, will deliver remarks on the U.S. economy and monetary policy.
22:00 Richmond Fed President and 2027 FOMC voting member Tom Barkin delivers remarks.
On the earnings front, Hong Kong-listed stocks $Guanghe Technology (01989.HK)$、 $De Shi-B (02526.HK)$ will release earnings reports.
The US stock market$Oklo Inc (OKLO.US)$ 、 $Vistra Energy (VST.US)$、 Under Armour (UA.US) Releases earnings report before the market opens.
Regarding IPOs, $Narxen Tech (02261.HK)$ has officially gone public.
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Editor/KOKO