We get earnings reports today from HSBC, Heineken and Ferrari, but other big names opening their books this week include Alibaba, BP, Clorox, CVS Health, DraftKings, Lyft, Occidental Petroleum, and Uber.
In key economic data, the ISM manufacturing report and Purchasing Managers' Index surveys today. The jobs report for July is due out on Friday. We’ll get an idea of how companies are handling wage pressures, with raising them practically a requirement to fill many open jobs. Over the past 12 months as of June, wages were up 3.6%
The American Rescue Plan program to help restaurants and their employees allocated $270 million in grants across more than 700 New Orleans area businesses. The Times-Picayune reports the operators of Café du Monde, Pat O’Brien’s, Commander’s Palace, Arnaud’s and Antoine’s were among the recipients of the largest grants.
The major market benchmarks finished the week on a down note but the S&P clinched its sixth straight month in the green. It was down 23 points Friday, the Dow lost 149 points, and the Nasdaq 105. Futures are pointed toward a higher market open.