Market Watch: 7 Key Events Traders Should Follow This Week

This week brings a mix of legal battles, economic data, and big earnings that could shake global markets. Here’s a clear and simple breakdown:

1. U.S. Tariffs Under Legal Pressure

A U.S. appeals court ruled against Trump’s wide-reaching tariffs, questioning his use of emergency powers. The White House has until mid-October to appeal to the Supreme Court.
👉 If tariffs are rolled back, trade flows and Treasury markets could feel the heat.

2. Jobs Report in Focus

The U.S. labor report on Friday is the headline event. Economists expect around 74,000 jobs, close to last month’s weak 73,000.

A soft number may lock in Fed rate cuts.
Traders see an 87% chance of a September cut, according to CME FedWatch.

3. ISM Business Activity Data

The manufacturing PMI is expected at 48.9 (still in contraction), while services PMI could rise slightly to 50.5.
👉 Factories remain weak, and services are just holding above water — both hit by tariffs and slower hiring.

4. Federal Reserve Beige Book

On Wednesday, the Fed releases its Beige Book survey.

July’s edition warned of elevated costs and trade uncertainty.
Businesses were delaying investment and hiring.
👉 This will guide the Fed’s September policy decision.

5. Earnings Spotlight: Broadcom & Salesforce

Tech earnings remain key.

Broadcom results will show if AI chip demand is cooling, after Nvidia’s softer outlook.
Salesforce earnings will test whether software stocks are rebounding as investors rotate back from AI.

6. Oil Prices on Watch 🛢️

Crude oil has been swinging as OPEC supply decisions and global demand outlook clash. Any surprises from producers or fresh geopolitical risks could quickly move energy markets and inflation expectations.

7. Bond Yields & Dollar Moves 💵

U.S. Treasury yields and the dollar remain critical signals. If yields fall on weaker jobs data, expect the dollar to soften, supporting gold and emerging market currencies. But stronger data could flip the script.

📌 Takeaway:
This week is about more than just one event. Markets face trade rulings, Fed signals, and earnings from AI and software giants — all while oil and bonds add extra volatility.

✍️ By Md Golam Rabbani