What to expect in the markets this week

Next: Labor Day holiday, August jobs and earnings from Broadcom, Zscaler, Dollar Tree

Key recommendations

• Markets will be closed on Labor Day Monday.

• While job openings and private sector employment reports will set the stage for the start of the week, August jobs data will capture the spotlight on Friday.

• Tech company gains this week include Broadcom, Hewlett Packard Enterprise and Zscaler.

• Retailers Dollar Tree, Big Lots and Dick’s Sporting Goods are also scheduled to report financial results.

Markets will be closed on Labor Day Monday. After that, investors will focus on key labor market data, primarily Friday’s release of the August jobs report.

This week’s earnings reports are once again led by a chipmaker, with Broadcom (AVGO) financial on Thursday, while Hewlett Packard Enterprise (HPE), Zscaler (ZS), and Samsara (IoT) are other noteworthy tech companies on deck as well. Investors will also hear from retailers Dollar Tree (DLTR), large lots (GREAT) and Dick’s Sporting Goods (DKS).

Monday, September 2

Tuesday, September 3

• S&P Manufacturing PMI (August)

• Manufacturing ISM (August)

• Construction Expenditure (July)

• Zscaler and GitLab (GTLB) reports earnings

Wednesday, September 4

• Trade deficit (July)

• Positions available (July)

• Factory Orders (July)

• Federal Reserve Beige Book

• Cover (CPRT), Hewlett Packard Enterprise, Dollar Tree, Dick’s Sporting Goods, and Hormel Foods (HRL) reports earnings

Thursday, September 5

• Initial unemployment claims (31 Aug)

• ADP Hiring (July)

• US Productivity and Costs (Second Quarter Revisions)

• S&P Services PMI (August)

• ISM Services (August)

• Software Broadcom, Samsara, Guidewire (GWRE), and DocuSign (DOCUMENTS) reports earnings

Friday, September 6

• US Employment Report (August)

• Last day before Federal Reserve official public speaking ban period

• BRP (DOOOO) and Big Lots report earnings

The jobs report gives the Fed its last look at the labor market ahead of the meeting

With jobs in mind, Federal Reserve officials will take a final look at the labor market when the Bureau of Labor Statistics releases August employment and wage numbers on Friday. Last month’s report showed an unexpected rise in the unemployment rate to 4.3 percent, roiling markets and raising questions about whether the Fed missed an opportunity to cut rates at its July meeting.

Since then, jobless claims have been fairly steady and close to expectations. However, the unexpected data moves could raise more questions about how the Federal Reserve will cut rates at its Sept. 17-18 meeting. Wednesday’s jobs report, Thursday’s private sector ADP report and weekly jobless claims data will set the stage for Friday’s jobs report.

The story continues

Chipmaker Broadcom Leads Tech, Retail Revenue

Following last week’s momentum, the market’s focus on Nvidia (NVDA), another chipmaker will be in the spotlight when Broadcom reports earnings on Thursday. Nvidia fell despite a beat on its earnings, and Broadcom’s report comes after its recent 10-for-1 stock split.

Market watchers will have other tech earnings to study this week, including additional reports on Thursday from Samsara, Guidewire Software and DocuSign. Hewlett Packard Enterprise headlines the reporting schedule on Wednesday as the server vendor tried to continue fueling results with gains from its artificial intelligence (AI) products. Cybersecurity vendor Zscaler and software platform GitLab report Tuesday.

A handful of value retailers are scheduled to report this week, including Dollar Tree, which is coming off a disappointing previous quarter, and Big Lots, whose report comes amid talk of bankruptcy amid declining home and furniture sales .

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