Coming Up: July Jobs Report, Uber Earnings and More!

Coming Up: July Jobs Report, Uber Earnings and More!

Following last week’s tech-heavy batch of corporate quarterly results, earnings season will continue this week with only a few major companies set to report. Investors are also set to receive more updates on the state of the US labor market, with the Labor Department’s July jobs report due for release at the end of the week.


Disney (DIS) will be one of the central reports this week, the company is expecting a decrease in their profits due to the impact of the Covid-19 had on theme parks and cruise revenues.

Other companies’ reports will also be of high interest this week. Uber is due to report on Friday, which has suffered a lot since the pandemic started. However, Uber delivery is something that investors will be paying close attention to. The question they will be asking is if the company has profited during this pandemic time when people have mainly rallied on takeaways.

Earnings season in the UK continues this week, with HSBC the U.K.’s biggest bank, in the spotlight after posting pre-tax profits of $4.3 billion, down 65% from the same period last year, adding that it has set aside between $8 billion and $13 billion this year for bad loans. HSBC is majorly affected by the US and China tensions since its biggest profits come from the Asian Financial Hub of Hong Kong.

U.S. Jobs and Labour Market

The United States of America has the Unemployment rate and Non-farm employment change to be announced on Friday.  

Non-Farm Employment Change is expected to be 1550K people employed, compared to a 4800K last month. Unemployment rate is expected to be 10.5%, compared to 11.1% last month

The Federal Reserve has given a clear message that they are ready to support the market, and more loose monetary policy measures could be coming in the next few months. However, one thing that is clear from the Federal Reserve’s stance is that the Fed is paying close attention to the labor force.

Interest Rates

After the RBA announcement today, the BoE (Thursday) is the only remaining G10 central bank announcement this week. 

Since the UK has fully opened its economy, this is the first time the Bank of England will be making a decision on its monetary policy. The expectations are that the BOE will hold interest rates at the current level even though they are facing enormous pressure because of the weak economic growth and uncertain future on the Brexit front.

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