Wall Street braces for jobs report and Tesla event

Macro

โดย Yahoo Finance·

Summary · why it matters

Wall Street heads into September with investors facing a busy week of economic data, technology earnings, and a closely watched Tesla event, with Friday's August jobs report likely to be the biggest market catalyst. The employment report is expected to show the US economy added 58,000 jobs in August, with the unemployment rate holding at 4.1% and average hourly earnings rising 0.3% month over month. Forecasts vary among major banks, with Deutsche Bank expecting payrolls to rise by 65,000, Wells Fargo seeing an 80,000 gain, and UBS forecasting 65,000 new jobs with unemployment edging up to 4.2%. The report follows July's surprise loss of 23,000 jobs and comes after Federal Reserve Chair Kevin Warsh's hawkish message at Jackson Hole, where he said recent improvements in inflation data have not convinced him that underlying price pressures have meaningfully improved. Investors will also watch AI-related earnings from Dell Technologies, Broadcom, Snowflake, and others, while Apple's leadership transition sees John Ternus taking over as CEO from Tim Cook on Tuesday.