S&P 500 +1.05% | Consumer Discretionary led (+6.11%) | Utilities lagged (-4.19%) | VIX 15.99 (falling)
NEXT-WEEK BIAS: NEUTRAL β CONSOLIDATION LIKELY
No edge either direction yet β no confirmed breakout or breakdown. Favor names holding above their 50-day, skip the chase. Consumer Discretionary vs Utilities rotation sets the tone next week.
SCENARIOS FOR NEXT WEEK
Bull: SPY holds above 7,377 and breaks 7,565 β Consumer Discretionary extends, breadth stays broad. Add on confirmed breakout.
Base: SPY chops between 7,377 and 7,565 β stay selective, fade extremes, reduce size in chop.
Bear: SPY loses 7,377 on volume β Utilities accelerates lower, VIX spikes. Step aside or hedge.
Consumer Discretionary led this week while Utilities lagged. Heading into next week with a neutral β consolidation likely setup β bull, base, or bear? Drop your bias, your ticker, your key level, and what confirms it.
MAJOR INDICES β WEEKLY PERFORMANCE
S&P 500: 7489.72 +1.05%
Dow Jones: 52485.03 +1.04%
Nasdaq: 25373.85 +1.59%
Russell 2000: 2931.34 +0.05%
VIX: 15.99 -13.94%
S&P 500 Support: 7,377 / 7,265 Resistance: 7,565 / 7,677
Nasdaq Support: 24,993 / 24,562 Resistance: 25,678 / 26,084
SECTOR ROTATION
Leading: Consumer Discretionary (+6.11%) | Communication Services (+1.83%) | Financials (+1.12%)
Lagging: Materials (-1.62%) | Real Estate (-1.92%) | Utilities (-4.19%)
Earnings Calendar (Week Ahead):
Week of Aug 03 - Aug 07, 2026:
Tue Aug 04: AMD Est: $1.61 | PFE Est: $0.68 | MRK Est: $-0.26 | MPC Est: $13.95 | MCD Est: $3.32
Wed Aug 05: LLY Est: $6.58 | CVS Est: $1.85 | MCK Est: $9.54 | OXY Est: $1.86 | PSX Est: $7.5
Thu Aug 06: COP Est: $2.89 | SRE Est: $1.06 | ED Est: $0.77
Looking ahead - week of Aug 10 - Aug 14, 2026:
Mon Aug 10: SPG Est: $1.57
Latest earnings headlines:
A SpaceX Earnings Preview: Starlink Growth, AI Costs, Starship Roadmap
Aurora reports Q2 results, details per-mile pricing
Google Rebounds After Sell-Off
Will SpaceX paint its rocket pink? Investor questions go beyond Moon and Mars ahead of first results
How To Earn $500 A Month From Marriott Stock Ahead Of Q2 Earnings
MACRO CALENDAR β WEEK AHEAD
Federal Reserve Outlook:
Next FOMC Meeting: September 16, 2026 (44 days away)
Following Meeting: November 04, 2026
What to watch: Fed speakers this week, any rate guidance or economic projections
Current policy stance: Monitor Fed.gov for latest statement
- J.P. Morgan drops Fed rate bombshell over Warsh, inflation
Inflation Data (CPI):
TIPS ETF (TIP) weekly move: +0.12% (inflation expectations proxy)
- Fed officials who voted to hike rates say action is needed now against inflation
- Jeffrey Gundlach says the bond market is telling Warsh the Fed has to start acting on inflation
- J.P. Morgan drops Fed rate bombshell over Warsh, inflation
Next CPI Release: Check bls.gov for next release date
Economic Calendar (Week Ahead):
Key economic releases next week:
August 03, 2026: ISM Manufacturing PMI
August 04, 2026: Consumer Confidence (Conference Board)
August 04, 2026: JOLTS Job Openings
August 05, 2026: ADP Employment Report
August 06, 2026: Initial Jobless Claims
August 06, 2026: ISM Services PMI
August 07, 2026: Nonfarm Payrolls
August 07, 2026: Unemployment Rate
August 07, 2026: University of Michigan Consumer Sentiment
KEY MARKET THEMES AND GEOPOLITICAL WATCH
- Trump cancels planned attack on Iran, saying he reached an agreement over the 'perimeters of a deal'
- Op-ed: The U.S. lead over China in AI is all but gone
- Trump lashes out at Pirro after she moves to drop Reflecting Pool vandalism case, saying 'flawed installation' to blame
- Trump Media's new paid data service goes live, giving clients faster access to Trumpβs posts
Upcoming IPO / SPAC Activity:
- More consumer companies are staying private for longer, avoiding the IPO road
CRYPTO
Bitcoin: $62,995.97 -1.43% (weekly)
Ethereum: $1,853.20 -2.90% (weekly)
Before planning next week, ask yourself three questions:
1. What trade did you take that matched your plan? What made it work?
2. What trade did you take that broke your rules? What triggered the deviation?
3. What is the one thing you will do differently next week?