Earnings season continues next week with reports due from some of the market’s most widely held names, including Apple and Amazon, among others. We’ll get the latest updates on the labor market, including the Job Openings and Labor Turnover Survey (JOLTS) for June, ADP’s National Employment Report, and the July nonfarm payrolls report. PMI readings from S&P Global and the Institute for Supply Management (ISM) will also become available, along with inflation and GDP readings from the eurozone, and an interest rate decision from the Bank of England (BoE).

Earnings Season Continues
Earnings season continues next week with reports from tech giants Apple and Amazon, as well as a handful of big pharma companies including Pfizer, Merck, Amgen, Humana, Gilead Sciences, and Cigna. We’ll also get earnings from Toyota, Caterpillar, Starbucks, Uber Technologies, Airbnb, and PayPal, among others.

Labor Market Updates
We’ll get the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) report for June on Tuesday, tracking the number of openings, hires, quits, and separations for the month. Job openings are projected to have fallen to 9.5 million last month from 9.82 million in May, as availability cooled. On Wednesday, payroll provider ADP will follow with its National Employment Report tracking growth in private sector payrolls. Projections call for a gain of 210,000 in July, after payrolls surged by almost half a million in June. This could set the stage for the July nonfarm payrolls report on Friday. Economists project U.S. employers added 184,000 jobs this month, slightly below a gain of 209,000 in June. This would mark the smallest increase since a decline in late 2020, indicating the Fed’s rate hikes are finally cooling the red-hot labor market. The unemployment rate is projected to hold steady at 3.6%, near a 50-year low.


Bank of England Interest Rate Decision
On Thursday, policymakers at the Bank of England (BoE) will hold their latest meeting on monetary policy. The U.K.’s central bank will likely raise interest rates by a quarter of a percentage point to 5.25%, marking its 14th consecutive rate hike since it began tightening in late 2021 in an effort to combat soaring prices. At just under 8%, inflation in the U.K. is still the highest among G7 countries and hasn’t cooled as quickly as other economies. BoE officials will likely raise their benchmark rate to a peak of 5.75% by the end of the year, according to a Reuters poll, which would set borrowing costs to the highest since 2007.