Jobs Report and a Fresh Earnings Wave Headline the First Week of August

Wall Street enters the first full week of August with momentum after closing out a volatile July higher. The main event lands Friday, when the July jobs report is due: economists expect roughly 88,000 nonfarm payrolls, up from June's soft print. Analysts describe that as a 'Goldilocks' number — weak enough to keep the Federal Reserve patient, strong enough to hold off recession fears.

Before then, Monday brings the July ISM manufacturing index, Wednesday the ADP employment report and ISM services, and Thursday weekly jobless claims. On the earnings side, Palantir reports Monday after the close, with Caterpillar, Merck, McDonald's, Pfizer, AMD and Amgen following Tuesday.

Several portfolio names are on the calendar too: Snap reports Monday, Hecla Mining on Tuesday after the close, and DraftKings on Thursday. With about 85% of S&P 500 reporters beating expectations so far this season, the bar for a strong finish to earnings season is set high.