Weekly Market Report (07 Aug 23)

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News Last Week

Labor Department reported slower growth in July's nonfarm payrolls at 187,000.
Unemployment rate dropped to 3.5%, nearing historic lows from 1969.
Fitch Ratings downgraded the U.S. government’s credit rating to "AA+" due to debt and political concerns.
U.S. stock indexes, S&P 500 and Nasdaq Composite, reported significant annual gains.
Concerns arose over declining corporate earnings and overvalued market.
July ended with continued ascent in the stock market, influenced by positive jobs and inflation data.
China's stock market experienced a bull run, driven by positive economic indicators and policy shifts.
Eurozone witnessed its highest services inflation rate since 1997, prompting the European Central Bank to adjust its monetary policies.

Earnings Reports from Eli Lilly, UPS, The Walt Disney Company, Honda Motor Company, Alibaba
Labor Department's CPI release on Thursday
Labor Department's PPI release on Friday