--- title: "The US stock market welcomes non-farm payroll data and a super earnings week: SpaceX's IPO kicks off, can AI companies' earnings withstand the market value judgment?" type: "News" locale: "en" url: "https://longbridge.com/en/news/294622329.md" description: "In the coming week, global markets will focus on the U.S. July non-farm payroll data and PMI to assess economic resilience and the Federal Reserve's monetary policy direction in September. At the same time, U.S. stocks will enter a super earnings week, with AI and tech giants such as Palantir, AMD, and SpaceX set to announce their earnings. Their performance will serve as a key window for measuring AI demand, chip growth, and space economy valuations, and investors need to pay attention to the supporting role of corporate profits on market capitalization" datetime: "2026-08-03T00:40:41.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294622329.md) - [en](https://longbridge.com/en/news/294622329.md) - [zh-HK](https://longbridge.com/zh-HK/news/294622329.md) --- # The US stock market welcomes non-farm payroll data and a super earnings week: SpaceX's IPO kicks off, can AI companies' earnings withstand the market value judgment? The Zhitong Finance APP noted that in the coming week, global markets will welcome U.S. employment data, Purchasing Managers' Index (PMI) data, and a new round of intensive U.S. corporate earnings releases. The U.S. will release the July non-farm payroll report, ADP employment data, and the ISM indices for manufacturing and services. Investors will use this information to assess whether the U.S. economy remains resilient and whether the Federal Reserve needs to further tighten monetary policy at the September meeting. The Federal Reserve kept interest rates unchanged at the July meeting, but internal divisions regarding inflation risks have widened. Meanwhile, rising energy prices and core inflation remaining above policy targets have further amplified the impact of employment data on interest rate expectations. If July's job growth significantly exceeds expectations, Treasury yields and the dollar may continue to rise; if the labor market cools rapidly, market focus may shift from inflation back to economic growth risks. On the corporate side, the U.S. stock market's second-quarter earnings season continues. AI software company Palantir (PLTR.US), chip company AMD (AMD.US), SanDisk (SNDK.US), commercial space company SpaceX (SPCX.US), industrial equipment manufacturer Caterpillar (CAT.US), media entertainment group Disney (DIS.US), ride-hailing platform Uber (UBER.US), pharmaceutical giant Eli Lilly (LLY.US), cloud software company Datadog (DDOG.US), and ride-hailing platform Lyft (LYFT.US) will successively announce their earnings. Among them, the earnings reports from Palantir, AMD, SanDisk, and SpaceX will serve as important windows for the market to gauge AI software demand, data center chip growth, and space economy valuations; while the performances of Disney, Uber, and Eli Lilly will provide new insights into the consumer, transportation, and weight-loss drug markets. **Important Event Preview** As the U.S. July non-farm report approaches, expectations for Federal Reserve rate hikes face re-evaluation. On Friday (August 7), the U.S. Bureau of Labor Statistics will release the July non-farm employment report, which includes key indicators such as non-farm payroll numbers, unemployment rate, and average hourly earnings. The market currently expects that the U.S. non-farm payrolls in July will increase by about 91,000, with the unemployment rate possibly rising from 4.2% to 4.3%. In contrast, the U.S. non-farm payrolls in June only increased by 57,000, indicating a significant slowdown in job growth. Investors will focus on whether the slowdown in employment is a mild cooling or an early signal of a sharp deceleration in economic growth. If both job growth and wage growth exceed expectations, it may strengthen the case for the Federal Reserve to continue raising interest rates; Treasury yields, the dollar, and financial stocks may find support, while high-valuation tech stocks and gold may come under pressure. Conversely, if the non-farm data is significantly below expectations and the unemployment rate rises more than the market predicts, investors may reduce their bets on Federal Reserve rate hikes, but recession fears may also limit the upside potential for U.S. stocks. Therefore, next week's market reaction will depend not only on the strength of the data but also on whether investors are more concerned about inflation or economic growth The U.S. ISM Index Concentration Release Faces Economic Growth and Price Pressure Challenges On Monday (August 3), the U.S. will release the July ISM Manufacturing Index; on Wednesday (August 5), the U.S. will also release the July ISM Services Index. According to the ISM release schedule, the manufacturing report is typically published on the first business day of each month, while the services report is published on the third business day. For manufacturing data, the market will focus on new orders, employment, and production sub-indices to assess whether business investment and demand for goods can continue to expand. The price payment index is also worth noting; against the backdrop of rising international oil prices and transportation costs, this indicator may influence the market's judgment on whether commodity inflation is heating up again. The services sector accounts for a larger share of U.S. economic activity, meaning that the employment and price sub-indices in the services sector may have a greater impact on Federal Reserve policy expectations. If both the manufacturing and services indices continue to expand while price pressures rise, the market may further increase expectations for interest rate hikes this year. AI Earnings Reports Face Key Tests, Palantir, AMD, and SanDisk Set to Release On Monday (August 3) after the U.S. stock market closes, Palantir will release its second-quarter earnings report. The market will focus on U.S. commercial revenue, government business growth, new orders from its AI platform (AIP), and whether management raises its full-year guidance. Palantir remains one of the higher-valued companies in the U.S. AI software sector; therefore, even if revenue and profits continue to grow, whether order volume, remaining performance obligations (RPO), and future growth rates can support its current valuation will still determine the stock price direction after the earnings report. Palantir has confirmed that it will announce its performance after the U.S. stock market closes on August 3. On Tuesday (August 4) after the U.S. stock market closes, AMD will release its second-quarter earnings report. Investors will focus on data center revenue, AI accelerator shipment volumes, server processor demand, and changes in gross margins. As technology companies continue to increase investments in AI infrastructure, the market hopes to see AMD win more orders in the AI chip market and gradually narrow the gap with industry leaders. If AI chip revenue and guidance for the second half of the year exceed market expectations, AMD's earnings report could boost the entire semiconductor sector; if order growth, product delivery, or gross margin performance falls short of expectations, it may exacerbate investor concerns about the return on AI capital expenditures. On Wednesday (August 5) after the U.S. stock market closes, SanDisk will release its fourth-quarter and full-year earnings report for fiscal year 2026. The market will focus on SanDisk's fourth-quarter revenue, adjusted earnings per share, and gross margin performance, as well as management's latest guidance on NAND flash prices, market supply and demand, and product shipment volumes for the new fiscal year. As demand for large-capacity storage from AI servers and data centers continues to grow, changes in revenue from enterprise solid-state drives (SSDs), data center products, and high-end NAND products will become important indicators for assessing the quality of SanDisk's growth SpaceX welcomes its first financial report after going public, with Starlink and cash flow as focal points. SpaceX will also release its first quarterly financial report since going public after the U.S. stock market closes on Tuesday, becoming one of the most anticipated corporate events next week. The market will focus on the number of Starlink users, satellite internet revenue, rocket launch frequency, government contracts, and expenditures on the Starship project. Given the significant stock price fluctuations since SpaceX went public, this first financial report will help investors assess whether the company's business model, profitability, and cash flow can support its high valuation. In addition to revenue and profit, management's comments on Starlink growth, Starship testing progress, space data centers, and AI-related businesses may also influence market sentiment. If the company can demonstrate stable cash flow and a clear path to commercialization, the stock price may find support; however, if capital expenditures and R&D expenses continue to grow rapidly, the market may focus more on financing needs and potential stock supply pressures. Leaders in consumer, healthcare, and industrial sectors are about to release financial reports. On Tuesday, Caterpillar will release its second-quarter financial report. The market will observe changes in global infrastructure construction, mining investment, and industrial demand through its construction, resource, and energy & transportation segments. Investors will also pay attention to the impact of raw materials, tariffs, and transportation costs on profit margins. If orders, dealer inventories, and full-year guidance remain stable, it may alleviate market concerns about a slowdown in global manufacturing. On Wednesday, Disney, Uber, and Eli Lilly will release their financial reports. Key highlights of Disney's report include the profitability of its streaming business, theme park attendance and consumer spending, sports media performance, and changes in traditional television revenue. The market will assess whether improvements in the streaming business can offset the pressures from the decline in traditional television. For Uber, investors will focus on ride booking volumes, delivery growth, profit margins, and free cash flow, while also considering whether autonomous driving partnerships will affect future cost structures and competitive landscapes. Eli Lilly's focus remains on the demand for weight loss and diabetes medications. The market will pay attention to the sales of Mounjaro and Zepbound, capacity expansion, supply conditions, and full-year guidance. As competition in the weight loss drug market intensifies, Eli Lilly's production capacity and drug pipeline will directly impact investors' assessments of its long-term growth prospects. On Thursday, Datadog and Lyft will release their quarterly financial reports. Datadog's report will reflect enterprise cloud spending, AI workload growth, and customer cost optimization trends. For Lyft, the market will focus on active passenger numbers, total bookings, insurance costs, and profit margins, comparing them with Uber's performance ### Related Stocks - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.US.md) - [PLTW.US](https://longbridge.com/en/quote/PLTW.US.md) - [PLTU.US](https://longbridge.com/en/quote/PLTU.US.md) - [PLTZ.US](https://longbridge.com/en/quote/PLTZ.US.md) - [PLOO.US](https://longbridge.com/en/quote/PLOO.US.md) - [PLTG.US](https://longbridge.com/en/quote/PLTG.US.md) - [AMDD.US](https://longbridge.com/en/quote/AMDD.US.md) - [PTIR.US](https://longbridge.com/en/quote/PTIR.US.md) - [PLT.US](https://longbridge.com/en/quote/PLT.US.md) - [PLTD.US](https://longbridge.com/en/quote/PLTD.US.md) - [AMUU.US](https://longbridge.com/en/quote/AMUU.US.md) - [SPCH.US](https://longbridge.com/en/quote/SPCH.US.md) - [PLTA.US](https://longbridge.com/en/quote/PLTA.US.md) - [PLTY.US](https://longbridge.com/en/quote/PLTY.US.md) - [PLYY.US](https://longbridge.com/en/quote/PLYY.US.md) - [AMDG.US](https://longbridge.com/en/quote/AMDG.US.md) - [DAMD.US](https://longbridge.com/en/quote/DAMD.US.md) - [AMDY.US](https://longbridge.com/en/quote/AMDY.US.md) - [AMDW.US](https://longbridge.com/en/quote/AMDW.US.md) - [SPCF.US](https://longbridge.com/en/quote/SPCF.US.md) - [SPAL.US](https://longbridge.com/en/quote/SPAL.US.md) - [SNK.US](https://longbridge.com/en/quote/SNK.US.md) - [SSPC.US](https://longbridge.com/en/quote/SSPC.US.md) - [SPCU.US](https://longbridge.com/en/quote/SPCU.US.md) - [LOFF.US](https://longbridge.com/en/quote/LOFF.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [CAT.US](https://longbridge.com/en/quote/CAT.US.md) - [DIS.US](https://longbridge.com/en/quote/DIS.US.md) - [UBER.US](https://longbridge.com/en/quote/UBER.US.md) - [LLY.US](https://longbridge.com/en/quote/LLY.US.md) - [DDOG.US](https://longbridge.com/en/quote/DDOG.US.md) - [LYFT.US](https://longbridge.com/en/quote/LYFT.US.md) ## Related News & Research - [Powertech says it is on track to ship for AMD soon](https://longbridge.com/en/news/294091001.md) - [Palantir Technologies' Next Earnings Report on Aug. 3 Could Send the Stock Soaring. 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