The labor market goes under the microscope in the coming week with the U.S. jobs report for July to be released on Friday, Aug. 4, the sixth full month in President Donald Trump's economy.
A summer lull could feed into the top-line number, pulling the number of jobs added to the U.S. economy to below 200,000 for the third time this year. Economists surveyed by FactSet anticipate 180,500 jobs to have been added to the U.S. economy in July, still a solid pace though slower than the rate of 222,000 in June.
On the plus side, the unemployment rate is expected to fall by 10 basis points to 4.3%. Hourly earnings are expected to have increased 0.3% month on month, picking up from a 0.2% growth rate in June. Year over year, hourly earnings growth is targeted to have held at 2.5%.
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Apple Inc. (AAPL) - Get Apple Inc. Report will dominate a jam-packed earnings calendar in the coming week. The world's largest company is expected to post earnings of $1.57 a share during its quarter that ended in June, a 10% increase from a year earlier. Sales are forecast to have climbed nearly 6% to $44.9 billion.
Oil and mining stocks are also in the spotlight this week. Earnings are expected from Diamond Offshore Drilling Inc. (DO) - Get Diamond Offshore Drilling, Inc. Report on Monday; Devon Energy Corp. (DVN) - Get Devon Energy Corporation Report , BP PLC (BP) - Get BP Plc Report and Phillips 66 (PSX) - Get Phillips 66 Report on Tuesday; Marathon Oil Corp. (MRO) - Get Marathon Oil Corporation Report , Murphy Oil Corp. (MUR) - Get Murphy Oil Corporation Report , Murphy USA Inc. (MUSA) - Get Murphy USA, Inc. Report , Oasis Petroleum Inc. (OAS) - Get Oasis Petroleum Inc Report , Occidental Petroleum Corp. (OXY) - Get Occidental Petroleum Corporation Report , Rio Tinto (RIO) - Get Rio Tinto Plc Report , Sandridge Energy Inc. (SD) - Get SandRidge Energy, Inc. Report , Transocean Ltd. (RIG) - Get Transocean Ltd. Report and Williams Cos. (WMB) - Get Williams Companies, Inc. Report on Wednesday; and Chesapeake Energy Corp. (CHK) - Get Chesapeake Energy Corporation Report and Duke Energy Corp. (DUK) - Get Duke Energy Corporation Report on Thursday.
"As we prepare for energy earnings season to get into full swing, we remain on the sidelines because we think earnings will be unimpressive, especially regarding guidance, despite numerous top-line beats," said CFRA Research investment strategist Lindsey Bell in a note. "While there are indications that drilling may be slowing near-term and inventories are becoming more aligned, which should benefit oil prices long term, we prefer to wait until the quarter reports are in and more data on the global oil market is released to get more constructive."
Notable tech and media earnings include Pandora Media (P) on Monday; HCP Inc. (HCP) - Get HashiCorp, Inc. Class A Report , Sony Corp. (SNE) - Get Sony Corp. Report , Sprint Corp. (S) - Get SentinelOne, Inc. Class A Report and Xerox Corp. (XRX) - Get Xerox Holdings Corporation Report on Tuesday; 3D Systems Corp. (DDD) - Get 3D Systems Corporation Report , Fitbit Inc. (FIT) - Get Fitbit, Inc. Class A Report , Garmin Ltd. (GRMN) - Get Garmin Ltd. Report , Groupon Inc. (GRPN) - Get Groupon, Inc. Report , NXP Semiconductors (NXPI) - Get NXP Semiconductors NV Report , Square Inc. (SQ) - Get Block Inc Class A Report , Symantec Corp. (SYMC) - Get Symantec Corporation Report , Tableau Software (DATA) - Get Tableau Software, Inc. Class A Report , Take-Two Interactive Software Inc. (TTWO) - Get Take-Two Interactive Software, Inc. Report , Tesla Inc. (TSLA) - Get Tesla Inc Report , Tronc Inc. (TRNC) and Zygna Inc. (ZNGA) - Get Zynga Inc. Class A Report on Wednesday; and AMC Networks Inc. (AMCX) - Get AMC Networks Inc. Class A Report , Etsy Inc. (ETSY) - Get Etsy, Inc. Report , GoPro Inc. (GPRO) - Get GoPro, Inc. Class A Report , GrubHub Inc. (GRUB) - Get Grubhub, Inc. Report , Himax Technologies Inc. (HIMX) - Get Himax Technologies Inc. Report , Yelp Inc. (YELP) - Get Yelp Inc Report and Viacom Inc. (VIAB) - Get Viacom Inc. Class B Report on Thursday.
Drugmaker and healthcare earnings include Pfizer Inc. (PFE) - Get Pfizer Inc. Report on Tuesday; Cardinal Health Inc. (CAH) - Get Cardinal Health, Inc. Report , Humana Inc. (HUM) - Get Humana Inc. Report on Wednesday; Aetna Inc. (AET) , Allergan PLC (AGN) - Get Allergan plc Report , Shire PLC (SHPG) - Get Shire PLC Sponsored ADR Report , and Teva Pharmaceuticals Industries Ltd. (TEVA) - Get Teva Pharmaceutical Industries Ltd. Report on Thursday; and Cigna Corp. (CI) - Get Cigna Corporation Report on Friday.
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Other earnings of note include HSBC Holdings (HSBC) - Get HSBC Holdings Plc Report on Monday; Allstate Corp. (ALL) - Get Allstate Corporation Report , Herbalife Ltd. (HLF) - Get Herbalife Nutrition Ltd. Report , Honda Motor Co. (HMC) - Get Honda Motor Co. Ltd. Report and Under Armour Inc. (UA) - Get Under Armour, Inc. Class C Report on Tuesday; Cheesecake Factory Inc. (CAKE) - Get Cheesecake Factory Incorporated Report , Chemours Co. (CC) - Get Chemours Co. Report , Container Store Inc. (TCS) - Get The Container Store Group, Inc. Report , Energizer Holdings Inc. (ENR) - Get Energizer Holdings, Inc. Report , Exelon Corp. (EXC) - Get Exelon Corporation Report , MetLife Inc. (MET) - Get MetLife, Inc. Report , Molson Coors Brewing Co. (TAP) - Get Molson Coors Beverage Company Class B Report , Mondelez International Inc. (MDLZ) - Get Mondelez International, Inc. Class A Report and Sodastream International Ltd. (SODA) - Get SodaStream International Ltd. Report on Wednesday; Clorox Co. (CLX) - Get Clorox Company Report , HSN Inc. (HSNI) , Kellogg Co. (K) - Get Kellogg Company Report , Kraft Heinz Co. (KHC) - Get Kraft Heinz Company Report , Shake Shack Inc. (SHAK) - Get Shake Shack, Inc. Class A Report , Weight Watchers International Inc. (WTW) - Get Willis Towers Watson Public Limited Company Report , Western Union Co. (WU) - Get Western Union Company Report , Wingstop Inc. (WING) - Get Wingstop, Inc. Report , Yum! Brands Inc. (YUM) - Get Yum! Brands, Inc. Report on Thursday; and Potbelly Corp. (PBPB) - Get Potbelly Corp. Report and Revlon Inc. (REV) - Get Revlon, Inc. Class A Report on Friday.
The economic calendar in the coming week also includes: Chicago PMI for July and pending homes sales for June on Monday; monthly motor vehicle sales for July, personal income and outlays, construction spending for June, the PMI Manufacturing Index and the ISM Manufacturing Index for July on Tuesday; the ADP Employment Report for July on Wednesday; factory orders for June and the ISM Non-Manufacturing Index for July on Thursday; and international trade for June on Friday.
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