Next week could give investors clarity on whether the Magnificent Seven stocks can still power the market higher, or if they should instead be wary of the pitfalls of a top-heavy market now that some mega-caps have faltered. Wall Street could be in for a volatile bout of trading if this past week was any indication. On Friday, the tech-heavy S & P 500 and Nasdaq Composite were on track to cap out the week with losses, down roughly 0.7% and 2%, respectively.
meeting, July jobs report Elsewhere, investors will also be reviewing the latest Federal Reserve interest rate decision set for release on Wednesday. Wall Street is anticipating the central bank will keep its benchmark lending rate at 5.25% to 5.50%, but investors will look for more clarity around the interest rate outlook for the balance of the year. Markets were last pricing in a certain rate cut in September, according to the CME FedWatch Tool .
Home Price Index 9 a.m. S & P/Case-Shiller Home Price Indices 10 a.m. Consumer Confidence 10 a.m. Job Openings Earnings: Advanced Micro Devices , Live Nation Entertainment , Public Storage , Electronic Arts , Starbucks , Match Group , Microsoft , First Solar , Extra Space Storage , Caesars Entertainment , Corning , Howmet Aerospace , Procter & Gamble , Pfizer , Merck & Co. , Stanley Black & Decker , PayPal Wednesday July 31 8:15 a.m. ADP Employment Survey 8:30 a.m. Employment Cost Index Civilian Workers 9:45 a.m. Chicago PMI 10 a.m. Pending Home Sales Index 2 p.m.
Meeting 2 p.m. Fed Funds Target Upper Bound Earnings: MGM Resorts International , Allstate , Albemarle , Lam Research , eBay , Qualcomm , Western Digital , Meta Platforms , Etsy , Norwegian Cruise Line Holdings , Hess , Boeing , T-Mobile , Marriott International , GE Healthcare Technologies , Generac Holdings , Kraft Heinz , Mastercard , Ingersoll Rand Thursday August 1 8:30 a.m. Continuing Jobless Claims 8:30 a.m. Initial Claims 8:30 a.m. Unit Labor Costs preliminary 8:30 a.m.