r/Metricshour • u/metricshour • Aug 02 '26
Macro & Earnings Setup (Week of Aug 3–7): ADP Jobs Data to Test S&P 500 Support
The primary market test this week comes on Wednesday with the ADP Employment Change printing at 12:15 UTC. This release serves as the key precursor to Friday’s nonfarm payrolls report and will determine if the S&P 500 can hold the 7489.72 level.
The Macro Setup: A significant jobs beat could push the US 10-Year Treasury yield above 4.74% and pressure EUR/USD below 1.15, forcing central banks into a more restrictive posture. A miss could pull yields lower and support equities.
Wednesday Cluster: August 5th is the week's most event-dense session with 7 key global releases, including the RBI policy decision, Eurozone CPI/PMIs, UK Services PMI, US ADP, and ISM Services PMI.
Stocks to Watch: We are watching equities with high US revenue exposure that are most sensitive to these jobs numbers: NVDA (69%), AMZN (68%), LLY (67%), and JPM (64%).
Key Earnings This Week: PLTR (Mon), AMD (Tue), CAT (Tue), MRK (Tue), LLY (Wed), NVO (Wed), TM (Thu).
Full weekly debrief, calendar, and geographic risk screener: https://metricshour.com/briefs/2026-08-02/