Morning Juice – US Session Prep (5th August)

Sentiment
A four-day rally in US equities lost momentum as investors assessed mixed megacap earnings. S&P 500 futures rose 0.3% while Nasdaq 100 futures were little changed.
Nvidia gained after a key partner reported a sharp rise in monthly sales, while Arista Networks jumped after forecasting stronger-than-expected third-quarter revenue.

The dollar weakened for a third day, Treasuries were steady, and precious metals rose as markets priced a lower risk of further rate hikes.
Brent recovered part of Tuesday’s sharp decline after the Houthis threatened more attacks on Saudi vessels in the Red Sea, but remained near $80 amid reports that the US, Iran and Oman were close to an agreement to restore oil flows through the Strait of Hormuz.

Docket
08:15 ET 
US ADP Employment Change for July
Forecast: 65k | Prior: 98k | Range: 101k / 50k

08:30 ET
US Treasury Quarterly Refunding Announcement

09:45 ET
US S&P Services PMI July Final 
Forecast: 53.6 | Prior: 53.6 | Range: 53.6 / 51.3

10:00 ET
US ISM Services PMI for July
Forecast: 54.5 | Prior: 54 | Range: 56.4 / 53.5

10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -1M | Prior: -7.167M | Range: 1.8M / -3M

Speakers & Events
16:05 ET
Fed’s Cook speaks on the economic outlook at the Anchorage Economic Development Corporation 2026 Economic Luncheon.
Text: Yes. Q&A: No.

16:30 ET
Trump delivers remarks.

Earnings
16:05 ET
eBay Q2 2026 Earnings
Est. EPS: $1.51
Est. Rev: $3.02B

Good luck!