U.S. stocks retreated from record highs late last week when fresh employment data showed that the U.S. labor market was not as robust as thought. Wall Street is expecting a relatively quiet macroeconomic agenda this week with no significant releases scheduled, write Yahoo Finance. Investors' attention may be drawn to the publication of ISM's U.S. services sector business activity index for July, accounts The Wall Street Journal. The previously reported data on activity in the manufacturing sector came in below forecasts - along with weak employment figures, this "heightens concerns about a slowdown in the economy," the WSJ quoted FP Markets analyst Aaron Hill as saying.

At the same time, investors are expecting another busy week of corporate reporting: 122 companies from the S&P 500 index will publish their financial results. The focus is on the results of Disney, Palantir, as well as both giants developing weight-loss drugs - Danish Novo Nordisk and American Eli Lilly.

Monday, August 4 quarterly reports will be released by Palantir, a company that develops AI for military and civilian applications. Hims & Hers, On Semiconductor, Tyson and Wayfair will also report their results.

On Tuesday, August 5, the U.S. Institute for Supply Management (ISM) will release its index of business activity in the services sector for July.

In the eurozone, June producer price data will be released.

AMD, BP, Caterpillar, Duke Energy, Lucid Group, Pfizer, Rivian Automotive, Super Micro Computer, Snap and Yum! Brands will report last quarter earnings

On Wednesday, August 6, Eurostat will release retail trade statistics for July.

Quarterly reports are expected from Airbnb, e.l.f. Beauty, Disney, McDonald's, Novo Nordisk, Shopify, Six Flags and Uber.

On Thursday, August 7, the U.S. Federal Reserve will release the nation's consumer credit data for June, and the nation's Labor Department will release July unemployment statistics.

The Bank of England will announce its interest rate decision. Most analysts expect the British regulator to cut the interest rate by 25 basis points to 4%, write WSJ citing LSEG.

Trade data out of China will help investors understand whether the momentum in export shipments was sustained in July. According to Citi's calculations, Chinese export growth remained solid last month, up about 8% year-over-year.

Last quarter's earnings information will be disclosed by Block, Conoco Phillips, Eli Lilly, Occidental Petroleum, Sony, Pinterest, Take Two Interactive, Toyota Motor and Vistra Energy.

On Friday, August 8, Under Armour and Wendy's will report their quarterly results.

This article was AI-translated and verified by a human editor

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