What to Expect in the Week Ahead (Jobs Report; Earnings from SpaceX, AMD, Sandisk, Palantir)

• July Payrolls Seen Adding 90K, Unemployment Rate Ticks Up to 4.3%

• SpaceX and AI, Memory Earnings Take Center Stage

• Key Earnings: SPCX, AMD, PLTR, SNDK.

📅 Earnings & Economic Calendar

Week overview

Wall Street is heading into another event-packed week, with the July jobs report, ISM business surveys and a heavy slate of corporate earnings likely to determine whether the recent pullback in momentum stocks can stabilize.

On the corporate front, $SpaceX (SPCX.US)$'s closely watched debut earnings report will be joined by results from $Advanced Micro Devices (AMD.US)$, $SanDisk (SNDK.US)$ ，$Palantir (PLTR.US)$, $Eli Lilly and Co (LLY.US)$, $Novo-Nordisk A/S (NVO.US)$, $Circle (CRCL.US)$, $Airbnb (ABNB.US)$ , $Applovin (APP.US)$ and other major companies.

Monday (August 3)

ISM Manufacturing PMI: The July ISM Manufacturing PMI is expected to rise to 54, from 53.3 in June. Regional manufacturing surveys pointed to improving orders, demand, production and shipments.

$Palantir (PLTR.US)$ is scheduled to report after Monday's closing bell. Adjusted earnings per share are expected to reach another record, while total billings could grow by around 70%. Investors will focus on whether broader adoption of Palantir’s Artificial Intelligence Platform can reaccelerate growth in its US commercial business following an unexpected slowdown in the previous quarter.

Tuesday (August 4)

Scrutiny of $SpaceX (SPCX.US)$'s first earnings report as a publicly traded company is likely to be intense, particularly as the expiration of the insider-share lock-up approaches. Investors may focus less on headline revenue and more on how the company is allocating capital across Starship, Starlink and its space-based data-center ambitions.

$Advanced Micro Devices (AMD.US)$ will release results after Tuesday's market close. Adjusted earnings per share are expected to more than triple from a year earlier, while quarterly revenue could reach a new record. The company’s recently announced partnerships with Microsoft and Anthropic may strengthen its competitive position in artificial intelligence infrastructure.

Wednesday (August 5)

ISM Services PMI: The July ISM Services PMI is forecast to rise to 54.3, its highest level since February, from 54.0 previously. Regional Federal Reserve surveys suggest that service-sector demand remained resilient, supported partly by activity surrounding the FIFA World Cup and the 250th anniversary of US independence.

$SanDisk (SNDK.US)$ enters the report with exceptionally high expectations. Management previously guided for fiscal fourth-quarter revenue of $7.75 billion to $8.25 billion and non-GAAP diluted earnings of $30 to $33 per share.

$Eli Lilly and Co (LLY.US)$ and $Novo-Nordisk A/S (NVO.US)$ are both scheduled to report on Wednesday. Investors will assess prescription growth, manufacturing capacity, supply constraints and competitive positioning in the rapidly expanding obesity and diabetes drug markets. Management commentary on pricing, insurance coverage and international expansion may be as important as the quarterly figures.

Expectations are elevated following $Applovin (APP.US)$'s strong longer-term performance, increasing the risk of a sharp reaction to guidance. The market will be watching whether AI-driven advertising tools can sustain rapid revenue growth while supporting margins.

$Circle (CRCL.US)$ previously projected a full-year RLDC margin of 38% to 40%. Investors will therefore assess whether USDC adoption and non-interest revenue can support margins as reserve yields normalize and distribution partners claim a meaningful share of reserve income.

Thursday (August 6)

$Airbnb (ABNB.US)$ reports Thursday after the closing bell and could exceed quarterly expectations as FIFA World Cup demand boosts accommodations. However, foreign-exchange volatility, geopolitical tensions and higher flight costs may weigh on its outlook for the rest of the year.

Friday (August 7)

Nonfarm Payrolls: The macro spotlight will fall on Friday's nonfarm-payrolls report, where the market expects US employers to have added 90K jobs in July, while the unemployment rate is projected to rise to 4.3% from 4.2%.

Construction, leisure and hospitality employment may decline as temporary World Cup hiring reverses, while trade, transportation and utilities could remain comparatively firm.

🔥Heat List

The latest moomoo trading heat list showed sharp dispersion among some of the market’s most actively traded technology stocks. $Microsoft (MSFT.US)$ surged 22% over the week, while several semiconductor and momentum names declined.

$Microsoft (MSFT.US)$ was the clear bright spot, surging 22% for the week, after stronger-than-expected cloud growth and an upbeat outlook helped ease concerns about the returns generated by its heavy AI infrastructure spending.

$SanDisk (SNDK.US)$ plunged 15% for the week, as investors rapidly unwound crowded positions across the AI-memory trade ahead of the company’s earnings report.

$Micron Technology (MU.US)$ dropped 10%, $SK hynix (SKHY.US)$ fell 7% as the broader memory-sector correction intensified. Investors reassessed whether recent increases in memory prices and AI-driven demand could be sustained after the sector's substantial rally.

$Meta Platforms (META.US)$ lost 6% after its quarterly results, as higher AI infrastructure spending, weaker-than-expected earnings and a sharp decline in free cash flow outweighed solid advertising revenue growth.

$SpaceX (SPCX.US)$ declined 6% ahead of its first public earnings report, as investors remained cautious about the company’s elevated capital expenditure, debt-funded AI investments and the cost of simultaneously developing Starship, Starlink and computing infrastructure.

646K Views