The business week of July 26 ended with a report from the Commerce Department that economic growth slowed in the second quarter, but buoyant news from other reports, including strong corporate earnings, helped the Dow rise 7.1% for the month; the Dow and the S&P 500 both had their best months since July 2009.
This week begins on August 2 with the ISM manufacturing index numbers for July and the Commerce Department’s release of construction spending for June. NYSE Euronext reports its earnings as well. There are two big speeches on tap: Fed Chairman Ben Bernanke addresses challenges for the economy and state governments at the Southern Legislative Conference in Charleston, South Carolina, while Treasury Secretary Tim Geithner discusses the next steps for financial reform in an address at NYU’s Stern School of Business in New York.
On Tuesday, August 3, we learn about auto sales for July, while the Commerce Dept. reports on personal income and spending for June. Also due for release: pending home sales for June and factory orders for June.
Wednesday, August 4 brings the ADP national employment report for July.