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DJIA Futures: +67 (+0.2%)

SPX Futures: +12 (+0.3%)

NASDAQ Futures: +44 (+0.3%)

Good morning friends!

Futures are higher as traders gear up for another big week of data and earnings.

Let’s get right to it!

Jobs Week

This will be another important week of economic data for traders and the Fed.

The Labor Department releases the June job openings and labor turnover survey (JOLTS) on Tuesday. 

ADP reports private employment numbers for July on Wednesday. 

And the Labor Department releases the official July jobs report on Friday. 

The Fed has previously said it is looking for signs of slowing job growth as it works to fight inflation. 

More Big Earnings

It will also be another week of important earnings reports. 

Here are some of the highlights: 

  • Tuesday AM: Pfizer (PFE), Caterpillar (CAT), Uber (UBER)
  • Tuesday PM: AMD (AMD), Starbucks (SBUX), Pinterest (PINS)
  • Wednesday AM: CVS (CVS)
  • Wednesday PM: Qualcomm (QCOM), Shopify (SHOP), PayPal (PYPL), DoorDash (DASH), Unity Software (U)
  • Thursday AM: Moderna (MRNA), Warner Bros Discovery (WBD), Kellogg (K)
  • Thursday PM: Apple (AAPL), Amazon (AMZN), Airbnb (ABNB), Block (SQ), Coinbase (COIN)

Yields Flat

Treasury yields are up slightly this morning as traders attempt to gauge the Fed’s plans for rates. 

The 2-year yield is up less than 0.5 points at 4.88% while the 10-year yield is up 1 points at 3.97%.

The core PCE price index, which is the Fed’s preferred inflation gauge, cooled more than expected in June. 

CME Group’s FedWatch tool currently shows 79.5% of traders expecting the Fed to keep rates unchanged at the September meeting. 

20.5% are anticipating another 25 bps rate hike.

FedWatch shows the majority of traders expecting the Central Bank to keep rates unchanged through the end of the year. 

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