Trump Dismisses Iran Strikes; ISM, Jobs and Major Earnings Ahead
Markets digest Trump’s decision to halt strikes on Iran, while the economic calendar packs July ISM PMI, JOLTS, ADP jobs data, the monthly payrolls report, and a heavy slate of S&P 500 earnings, including AMD and SpaceX.
Geopolitical developments take center stage as markets process President Trump’s cancellation of planned U.S. strikes on Iran, a reversal that may reduce immediate military risks but keeps Middle East tensions in play.
This week is also loaded with U.S. economic data. Monday’s ISM Manufacturing PMI for July will offer the first look at factory activity this month. On Tuesday, the June JOLTS Job Openings report provides insights into labor demand, while Wednesday’s ADP Nonfarm Employment Change sets the stage for Friday’s all-important July Jobs Report.
Earnings season intensifies, with nearly 20% of S&P 500 companies due to report. Notable releases include AMD and SpaceX ($SPCX) on Tuesday, and SanDisk ($SNDK) on Wednesday.
Source: The Kobeissi Letter