U.S. stocks closed mixed on Monday after the data released Friday showed the country’s economy adding 528,000 jobs in July, higher than economists’ estimates of 258,000 jobs. NVIDIA Corporation (NASDAQ:NVDA) shares dropped over 6% on Monday after the company issued preliminary second-quarter revenue guidance below estimates.
Let’s have a look at the major economic reports scheduled for release today.
- The NFIB small business optimism index for July is scheduled for release at 6:00 a.m. ET. The small business optimism index, which dropped to a 9-year low in June, is expected to decline further to 89.2 in July from previous reading of 89.5.
- Data on nonfarm productivity and labor costs for the second quarter will be released at 8:30 a.m. ET. Nonfarm productivity is projected to decline at a 4.5% annualized rate in the second quarter following a 7.3% drop in the first quarter. Unit labor costs, which surged 12.6% in the first quarter, might increase at a 9.3% rate in the second quarter.
- The Treasury is set to auction 52-week bills at 11:30 a.m. ET.
- The Treasury will auction 3-year notes at 1:00 p.m. ET.
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