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| Friday's Markets | |
|---|---|
| S&P 500 6,460 (-0.64%) |
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| Nasdaq 21,456 (-1.15%) |
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| Dow 45,545 (-0.20%) |
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| Bitcoin 107,962 (-3.63%) |
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The S&P 500 posted a 1.9% gain during August and finished close to record highs, with improving breadth suggesting the rally is healthy, as nearly 70% of constituents are trading above their 50- and 200-day moving averages.
- Fourth straight monthly gain for the main index: Albemarle (NYSE:ALB) was the best performer, climbing 26.8%, as the lithium producer got a bump thanks to the sharp rise in the lithium price. In second was Intel (NASDAQ:INTC), which soared 25% after the U.S. government announced a passive investment.
- September a historically weak month for the stock market: The S&P 500 has declined by an average of 4.2% in September over the last five years and by 2% on average during the month over the past decade.
Hidden Gems recommendation Zscaler (NASDAQ:ZS) reports after the closing bell on Tuesday. After scoring big client wins last quarter, investors will be watching out for further ambitious growth plans from the cybersecurity business.
- Earnings-per-share expectations beaten for four straight quarters: After the market closes on Wednesday, Salesforce (NYSE:CRM) releases quarterly earnings. The Rule Breakers rec is expected to show growth in revenue and profits as artificial intelligence (AI) and cloud adoption continue.
- Two key software-as-a-service providers: Braze (NASDAQ:BRZE) and DocuSign (NASDAQ:DOCU) both report on Thursday in post-market trading. Last quarter, both companies underwhelmed with updated full-year forecasts.
Stock Advisor rec Lululemon (NASDAQ:LULU) releases earnings on Thursday after hours, with investors wanting to see whether tariff-related pressures and weak macroeconomic sentiment from last quarter have eased.
- Superscore of 75 in our Moneyball database: Broadcom (NASDAQ:AVGO) is also scheduled to put out results after the market closes on Thursday, as it continues to ride on the coattails of AI-driven demand.
- Update on North America deal flow likely: Endava (NYSE:DAVA) reports before the market opens on Thursday, with caution ahead following the 24% stock price drop in the week after last quarter's earnings due to a disappointing outlook.
Labor market data this week kicks off with Job Openings and Labor Turnover Survey (JOLTS) numbers on Wednesday, with the ADP employment change on Thursday expected to show a monthly net addition of 80,000, providing a precursor for Nonfarm Payrolls on Friday.
- Data expected to show a slowing labor market: The consensus headline payrolls print is 75,000, a small drop from the 73,000 prior reading, with average hourly earnings likely to fall from 3.9% to 3.7% and a move higher in the unemployment rate to 4.3% from 4.2% in July.
- Key information to guide the upcoming Federal Reserve meeting: The employment data this week, followed by Producer Price Index and Consumer Price Index inflation readings next week, will influence the monetary policy actions at the Sept. 16-17 Fed meeting.
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