Market Outlook for the Upcoming Week: Key Earnings and Economic Indicators to Watch

Upcoming Highlights: Services Sector Insights and Earnings Reports from Eli Lilly, Disney, Uber, Palantir, and More

Essential Insights

• Following last week’s weaker-than-expected jobs data and economic concerns that unsettled markets, new information on the services sector, consumer credit, and other economic indicators will be released this week.
• Major pharmaceutical firms such as Eli Lilly, Novo Nordisk, Amgen, and Gilead Sciences are scheduled to announce their earnings.
• Financial updates from prominent companies including Walt Disney, Palantir, Uber, and Airbnb are also anticipated.

Last week’s disappointing jobs report and a sharper-than-expected contraction in manufacturing have heightened market unease. This week, investors will focus on fresh data from the services sector, consumer credit figures, and other key economic measures.

Pharmaceutical giants Eli Lilly (LLY), Novo Nordisk (NVO), Amgen (AMGN), and Gilead Sciences (GILD) will be in the spotlight with their earnings releases. Additionally, Walt Disney (DIS), Palantir Technologies (PLTR), Caterpillar (CAT), Uber Technologies (UBER), and Airbnb (ABNB) will provide financial updates.

Monday, August 5

• Release of S&P Services PMI for July
• ISM Services Index for July
• Remarks by San Francisco Federal Reserve President Mary Daly
• Earnings reports from CSX (CSX) and Palantir Technologies (PLTR)

Tuesday, August 6

• June U.S. trade deficit data
• Earnings announcements from Amgen, Caterpillar, Uber Technologies, Airbnb, Super Micro Computer (SMCI), Yum! Brands (YUM), and Reddit (RDDT)

Wednesday, August 7

• Consumer credit data for June
• Earnings reports from Novo Nordisk, Walt Disney, Shopify (SHOP), and CVS Health (CVS)

Thursday, August 8

• Wholesale inventories data for June
• Earnings releases from Eli Lilly and Gilead Sciences
• Remarks by Richmond Federal Reserve President Tom Barkin

Friday, August 9

• Hawaiian Electric (HE) earnings report

Services Sector and Consumer Credit Updates

The forthcoming services sector Purchasing Managers’ Indexes (PMIs) on Monday will provide crucial insight into whether this sector continues to support economic growth, especially in light of last week’s decline in manufacturing PMI that fueled economic concerns.

Wednesday’s consumer credit figures will reveal if consumers are still increasing debt to sustain spending, while Thursday’s wholesale inventories report will offer a perspective on how businesses are adapting to shifting sales expectations.

Additionally, monetary policy insights will be shared through speeches by San Francisco Fed President Mary Daly on Monday and Richmond Fed President Tom Barkin on Thursday, both scheduled after market hours.

Anticipated Earnings from Eli Lilly, Disney, Uber, and Others

Although the earnings season is nearing its end with over 75% of S&P 500 companies having reported, several high-profile earnings announcements remain that investors and analysts will watch closely.

Palantir’s quarterly update on Monday will be scrutinized for indications of sustained growth driven by its AI platforms.

Uber’s earnings report on Tuesday will be particularly notable following its unexpected first-quarter loss attributed to significant investment adjustments totaling $700 million.

On Wednesday, Walt Disney is expected to report a rebound to profitability, supported by growth in its experiences segment and a surprising profit in its direct-to-consumer entertainment division in the previous quarter.

Thursday’s earnings will highlight pharmaceutical companies, with Eli Lilly’s results shedding light on the continued profitability of its weight-loss drugs, while Gilead Sciences’ report will follow recent positive outcomes from its HIV treatment clinical study.

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