What to expect at the markets this week

Key Points

• The markets are closed on Monday for Labor Day.

• While reports on private sector job openings and vacancies are due out earlier in the week, August employment numbers will not grab attention until Friday.

• This week’s earnings reports from tech companies include Broadcom, Hewlett Packard Enterprise and Zscaler.

• Retailers Dollar Tree, Big Lots and Dick’s Sporting Goods are also expected to report their financial results.

Markets are closed for the Labor Day holiday on Monday, after which investors will focus on key labor market data, primarily Friday’s release of the August jobs report.

This week’s earnings reports are again led by a chipmaker, with Broadcom’s (AVGO) financial data on Thursday, while Hewlett Packard Enterprise (HPE), Zscaler (ZS), and Samsara (IoT technology) are other notable tech companies also on the program. Investors will also hear from retailers Dollar Tree (DLTR), Large lots (BIG) and Dick’s Sporting Goods (DKS).

Monday September 2nd

Tuesday September 3rd

• S&P Manufacturing PMI (August)

• ISM Production (August)

• Construction expenditures (July)

• Zscaler and GitLab (GTLB) report profit

Wednesday September 4th

• Trade deficit (July)

• Vacancies (July)

• Factory orders (July)

• Federal Reserve Beige Book

• Headpiece (CPRT), Hewlett Packard Enterprise, Dollar Tree, Dick’s Sporting Goods, and Hormel Foods (HRL) report profit

Thursday September 5th

• First applications for unemployment benefits (Aug. 31)

• ADP Employment (July)

• US Productivity and Costs (Second Quarter Revisions)

• S&P Services PMI (August)

• ISM Services (August)

• Broadcom, Samsara, Guidewire software (GWRE), and DocuSign (DOCU) report profit

Friday September 6th

• US Employment Report (August)

• Last day before Federal Reserve officials are prohibited from making public speeches

• BRP driving license (DO DO) and Big Lots report earnings

Jobs report gives Fed final look at labor market before meeting

With the focus now on jobs, Federal Reserve officials will get one last look at the labor market when the Bureau of Labor Statistics reports August employment and wage numbers on Friday. Last month’s report showed an unexpected jump in the unemployment rate to 4.3%, rattling markets and raising questions about whether the Fed missed its chance to cut rates at its July meeting.

Since then, jobless claims have been fairly stable and close to expectations. However, unexpected moves in the data could raise more questions about how the Federal Reserve will cut rates at its Sept. 17-18 meeting. Wednesday’s jobless claims report, Thursday’s ADP private sector employment report and weekly jobless claims data will set the tone for Friday’s labor report.

The story continues

Chipmaker Broadcom leads gains in technology and retail

After the momentum of last week’s market focus on Nvidia (NVDA), another chipmaker will be in the spotlight when Broadcom reports its earnings on Thursday. Nvidia fell despite better earnings, and Broadcom’s report comes on the heels of its recent 10-for-1 stock split.

Market watchers will want to study other tech earnings this week, including supplemental Thursday reports from Samsara, Guidewire Software and DocuSign. Hewlett Packard Enterprise tops Wednesday’s reporting schedule as the server provider looks to continue fueling results with revenue from its artificial intelligence (AI) products. Cybersecurity provider Zscaler and software platform GitLab report on Tuesday.

A handful of budget retailers are set to release reports this week, including Dollar Tree, which posted a disappointing last quarter, and Big Lots, which is releasing its report shortly after talks of bankruptcy amid a decline in home and furniture sales.

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