Earnings will remain in focus this week, with several high-profile names set to report despite most of the Mag 7 already having posted results. Retail favorite Palantir Technologies (NASDAQ:PLTR) kicks things off Monday and will need to justify its lofty valuation. On Tuesday, Advanced Micro Devices (NASDAQ:AMD) and Super Micro Computer (NASDAQ:SMCI) will offer more color on the semiconductor and AI narrative. Other notable reports include Uber Technologies (NASDAQ:UBER), Applovin (NASDAQ:APP), Walt Disney Company (NYSE:DIS), Rocket Lab (NASDAQ:RKLB), and The Trade Desk (NASDAQ:TTD), each of which could move their respective sectors.
The economic calendar is lighter, with the Services PMI the only notable release. Expectations are for a reading of 51.5, signaling modest growth, but following last week’s disappointing Manufacturing PMI, downside risk remains.
Trade policy will likely dominate headlines again. The sweeping tariff changes announced Friday spooked markets, fueling fears of added inflationary pressure just as jobs data showed deterioration. The abrupt firing of the Bureau of Labor Statistics head by President Trump after the weak jobs report raised alarm about political interference. With the August 7 deadline looming for most countries and August 12 for China, the lack of concrete agreements adds to the uncertainty. If trade tensions persist alongside slowing earnings and rising inflation, it may give the market a reason to pull back.
Monday
Earnings: PLTR MELI
Tuesday
Services Purchasing Managers’ Index (PMI)
Earnings: GFS AMD SMCI RIVN SNAP
Wednesday
Earnings: UBER SHOP DIS MCD APP ABNB FTNT
Thursday
Earnings: LLY DDOG RKLB TTD XYZ
Friday
Tracking This Week
Apple Inc (NASDAQ:AAPL) reported earnings last week that eased concerns around China and iPhone sales, both of which showed signs of recovery. However, shares fell sharply Friday on renewed trade tensions and tariff news. Once the dust settles, the stock appears well-positioned to grind higher, supported by improving fundamentals and steady leadership under CEO Tim Cook.
GameStop Corp (NYSE:GME) remains in a holding pattern, light volume and pulling back late last week along with broader market weakness. The core thesis remains intact: it’s well-positioned with its collectibles business and a sizable capital base. The primary overhang continues to be potential dilution on any major upward moves.
Intel Corporation (NYSE:INTC) continues to struggle in its transformation, far from the dominant force it once was. The stock has been under pressure following weak earnings and guidance, but it’s now trading in a zone with historically strong support. While meaningful growth may still be a couple of quarters away, this could present an opportunity for long-term investors to begin building a position.
Tesla Inc (NASDAQ:TSLA) has held up relatively well despite underwhelming earnings, robotaxi progressing slowly, and continued sales weakness—especially in key open markets like China. As previously noted, Tesla tends to trade more on sentiment than fundamentals, and the current technical setup looks constructive. Any positive development could act as a catalyst for a sharp, sentiment-driven move higher.
