There will be a lot of new economic news released in the markets this week, including manufacturing, services, and employment data. Key companies in the tech and hospitality industry will also release earnings results this week.
1. Manufacturing Data
The US economy’s growth came in much slower than expected in Q2 2026, partially because of weaker export growth.1
One import metric to keep an eye on is manufacturing data, which may provide more context to the growth outlook for H2 2026. One of the upcoming data releases in the markets this week is the US Manufacturing PMI, which will be released on August 3rd at 9:45 a.m ET.
Tensions between Iran and the United States, which have caused an uptick in inflation, have resulted in slower growth in the United States’ traditional manufacturing sectors. This trend is worth monitoring amid the heavy AI-driven narratives in the market and economy.
AI has been behind a large portion of the economy’s growth and stock market returns. Around two-thirds of GDP growth from the first half of 2025 came from new AI investments.2
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2. Services Sector Update
One of the main factors that supported Q2 2026 included robust consumer spending and relatively healthy activity in the services sector.3
There will be new monthly US Services PMI data released on Wednesday, August 5th at 9:45 a.m ET. This data is well worth monitoring, as tensions between the US and Iran have begun to put pressure on the US services sector in recent months.4
Some key services-based ETFs to keep an eye on include the Vanguard Consumer Discretionary ETF (VCR) and the Vanguard Communications Services ETF (VOX).
3. Additional Labor Market Updates
There will also be a lot of new labor market data released this week. Labor markets have been facing a lot of tension in recent months, as job growth has declined and the unemployment rate has remained at around 4.2%.
Below are some of the top news releases to monitor this week:
- ADP National Employment Summary Report: Wednesday, August 5th at 8:15 a.m ET
- Employment/Unemployment Report: Friday, August 7th at 8:30 a.m ET
- Average Hourly Earnings: Friday, August 7th at 8:30 a.m ET
New AI investments from companies have driven new layoffs in industries like technology. There were 245,000 layoffs in this industry last year, and total layoffs in the tech industry have already reached 170,000 this year.5
Labor market data has been gradually weakening in recent months. Nonfarm payroll growth has already been declining in recent months.6
Nonfarm Payrolls
Weaker labor data could be one factor that pushes the Federal Reserve to delay rate hikes, although inflationary pressure has also put pressure on the Fed to hike rates in the near term.7
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4. Global Macro News
There will also be a lot of global macro news released in the markets this week, following the US economy’s underperformance in Q2 2026.
Below are some major developments to monitor in China, Japan, and the European Union.
| Country/Region | Economic Releases |
| China | Private Manufacturing PMI on August 3rd
Private Sector Services PMI on August 5th |
| Japan | Services Sector Health Report on August 3rd
BOJ meeting minutes from July policy meeting on August 5th |
| Europe | Eurozone Manufacturing PMI on August 3rd |
This data is all worth monitoring, as any setbacks could result in growth downgrades for 2026. The World Bank is currently forecasting 2.5% global growth due to geopolitical tensions, rising commodity prices, and other economic headwinds.8
5. Important Earnings Results
There have been several major exciting earnings announcements in recent weeks for major tech giants, resulting in a massive divergence in performance among US tech companies.
There will also be several important earnings releases in the markets this week. Some leading names in the tech and hospitality industry will report earnings this week.
| Company | Q2 Earnings Announcement |
| Palantir Technologies | August 3rd at market close |
| Marriot International | August 3rd at 7:00 a.m ET |
| Advanced Micro Devices | August 4th at market close |
| Space X | August 4th at 3:30 p.m ET |
| Expedia Group | August 5th at 4:30 p.m ET |
| Airbnb | August 6th at market close |
Key ETFs to follow this week include the Invesco Leisure and Entertainment ETF (PEJ), the VanEck Semiconductor ETF (SMH), and the Global X Defense Tech ETF (SHLD).
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