This Week’s US Stock Macro Outlook Highlights (August 3–7)

August 3 (Monday)

1. US releases July ISM Manufacturing PMI and June Construction Spending;
2. ★★★★★Palantir reports earnings after the close, focus on AI-driven growth, government/commercial contracts and AIP platform progress;
3. ON Semiconductor and Snap report earnings after the close.

August 4 (Tuesday)

1. US releases June JOLTS Job Openings, Trade Balance and Factory Orders;
2. ★★★★★AMD reports earnings after the close, key test of AI chip demand;
3. ★★★★★SpaceX reports first earnings after listing after the close;
4. McDonald’s, Caterpillar and Pfizer report earnings pre-market.

August 5 (Wednesday)

1. US releases July ADP Employment Report and ISM Non-Manufacturing PMI;
2. ★★★★Eli Lilly and Novo Nordisk report earnings pre-market, revealing latest weight-loss drug market dynamics;
3. ★★★★SanDisk and Western Digital report earnings after the close, focus on enterprise SSD, HBM and data-center storage demand;
4. ★★★Circle, Disney (pre-market), AppLovin, Figma and IonQ (after the close) report earnings.

August 6 (Thursday)

1. US releases weekly Initial Jobless Claims and Challenger layoff data;
2. ★★★★★SpaceX unlocks approximately 9.115 billion shares, potential value nearly $100 billion, the largest single unlock in US history, testing liquidity;
3. Fed officials Musalem and Barkin speak;
4. ★★★AAOI and MP report earnings after the close.

August 7 (Friday)

1. ★★★★★US releases July Nonfarm Payrolls (expected +90,000, previous +57,000) and Unemployment Rate (expected 4.3%, previous 4.2%); a reading above 100,000 could boost labor-market confidence and raise September rate-hike bets;
2. US releases New York Fed 1-Year Inflation Expectations and other data;
3. ★★★OKLO and VST report earnings pre-market.

*This week’s core US stock themes revolve around July nonfarm payrolls data, Fed officials’ signals, SpaceX’s first earnings and large-scale unlock, plus AI/storage earnings from AMD, SanDisk and Western Digital; market volatility is expected to intensify.