5 things to know before the market opens on Monday

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Here are the most important news, trends and analysis investors need to start their trading day:

1. The S&P 500 should start August on the rise after six consecutive monthly gains

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, July 15, 2021.

Brendan McDermid | Reuters

2. July Jobs Report, Quarterly Profits Dominate The Week Ahead

A worker handles the hinges of the company’s largest commercial asphalt paver at the Calder Brothers facility in Taylors, South Carolina, the United States, July 19, 2021.

Brandon Granger | Calder Brothers Corporation | Reuters

Over the coming week, jobs and earnings data are the main events that could move the markets. A trio of reports on the health of the labor market kicks off Wednesday with the ADP report on private sector employment in July. The government’s weekly report on initial jobless claims and the July employment report are released on Thursday and Friday, respectively. More than a quarter of S&P 500 companies are expected to release quarterly results in the coming week. Investors will be watching for signs of wage inflation in the number of jobs and signs of rising prices in these earnings reports. The Federal Reserve has said it believes the surge in inflation will be temporary.

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3. The Senate completes the text of the bipartite legislation on infrastructure

An aerial view shows the continued construction of the Sixth Street Overpass Replacement Project, connecting Boyle Heights to downtown, July 28, 2021 in Los Angeles, California.

Mario Tama | Getty Images

Senators, in a rare weekend session, finalized the text of their $ 1 trillion bipartisan infrastructure bill, which will then be presented to the Senate. The measure, a top legislative priority for President Joe Biden, includes $ 550 billion in new spending over five years to build roads and charging stations for electric vehicles, as well as to replace lead water pipes. Many Democrats, including Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi, want to pass the infrastructure bill alongside a much larger $ 3.5 trillion budget reconciliation agenda. dollars.

4. New cases of Covid continue to increase; federal moratorium on evictions expires

The surge due to the delta in Covid infections in the country is particularly noticeable in Florida. A day after recording the most new daily cases since the start of the pandemic, Florida on Sunday broke a previous record for ongoing hospitalizations set more than a year ago, before vaccines were available. The latest seven-day average of new daily Covid cases in the United States is up 54% from a week ago.

Tenants and housing rights activists are protesting the halt in rent payments and mortgage debt amid the coronavirus disease (COVID-19) outbreak in Los Angeles, California, United States, on October 1, 2020.

Lucy Nicholson | Reuters

The evictions, which were mostly on hiatus during the pandemic, are expected to intensify on Monday after a federal moratorium expired over the weekend. House lawmakers on Friday attempted, but ultimately failed, to pass a bill to extend deportation orders, even for a few months. More than 15 million people live in households that owe their owners up to $ 20 billion, according to the think tank Aspen Institute.

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5. Jack Dorsey’s Square buys Afterpay in Australia for $ 29 billion

Jack Dorsey, CEO of Twitter and Co-Founder and CEO of Square, speaks during the Bitcoin 2021 Cryptocurrency Convention at the Mana Convention Center in Miami, Fla. On June 4, 2021.

Marco Bello | TBEN | Getty Images

Square plans to buy Australian fintech Afterpay as it seeks to expand further into the burgeoning installment loan market. Jack Dorsey’s payment firm announced the deal for $ 29 billion in shares on Sunday evening. The price tag marks a premium of around 30% over Afterpay’s closing price on Friday. Shares of Afterpay in Australia closed almost 19% higher on Monday. Square shares fell 4% in Monday’s pre-market trading in the United States. Afterpay allows customers to pay in four interest-free installments and pay a fee if they miss an automated payment. Square also announced its second quarter results on Sunday, ahead of its previously scheduled release on Wednesday.

– The The Bharat Express News contributed to this report. Follow all market actions like a pro on TBEN Pro. Get the latest pandemic news with TBEN’s coronavirus coverage.

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