Here are the most important news, trends and analysis that investors need to start their trading day:
1. The S&P 500 is set to begin higher in August after six straight monthly gains
Traders are working on the floor of the New York Stock Exchange (NYSE) in New York on July 15, 2021.
Brendan McDermid | Reuters
A worker works to clear the largest commercial asphalt paver at the Calder Brothers facility in Taylors, South Carolina, United States, on July 19, 2021.
Brandon Granger | Calder Brothers Corporation | Reuters
In the coming week, employment and earnings data are the main events that could move markets. Three reports analyzing the health of the labor market start Wednesday with the ADP’s July private sector employment report. The government’s weekly outlook on initial jobless claims and the July employment report came out Thursday and Friday, respectively. More than a quarter of S&P 500 companies are expected to issue quarterly earnings in the coming week. Investors will look for signs of wage inflation in employment numbers and signs of higher prices in these profit ratios. The Federal Reserve has said it believes the sharp jump in inflation will be temporary.
3. The Senate finalizes the text of the bipartisan infrastructure legislation
An aerial view shows construction continuing on the Sixth Street Viaduct replacement project, which connects Boyle Heights with downtown, on July 28, 2021 in Los Angeles, California.
Mario Tama | Getty Images
In a rare weekend session, senators has finalized the text of its $ 1 trillion bipartisan infrastructure bill, which will be introduced next to the Senate. The measure, a top legislative priority for President Joe Biden, includes $ 550 billion in new spending over five years to build roads and electric vehicle charging stations, as well as to replace lead water pipes. Many Democrats, including the Senate Majority Leader and Speaker of the House, Nancy Pelosi, want to pass the infrastructure bill alongside a much more $ 3.5 billion budget reconciliation package. great.
A health worker at a drive-thru site installation by Miami-Dade and Nomi Health in Tropical Park is preparing to administer a COVID-19 vaccine on July 26, 2021 in Miami, Florida.
Joe Raedle | Getty Images
The increase in delta-driven Covid infections across the country is feeling particularly harsh in Florida. A day after recording the newest daily cases since the beginning of the pandemic, Florida Sunday broke a current hospitalization record established more than a year ago, before vaccines were available. The last seven-day average of new skin infections in the United States has increased 54% from a week ago.
Tenants and housing rights activists are protesting an arrest warrant for rent and mortgage debt, during the coronavirus disease epidemic (COVID-19), in Los Angeles, California, United States, on the 1st October 2020.
Lucy Nicholson | Reuters
Evictions, which were largely paused during the pandemic, are planned to ramp up Monday after a federal moratorium expired over the weekend. On Friday the legislators of the house tried but failed to pass a bill to extend the eviction relief even for a few months. More than 15 million people live in households that owe $ 20 billion to their owners, according to the Aspen Institute think tank.
5. Jack Dorsey’s Square to buy Australia Afterpay in a $ 29 billion deal
Jack Dorsey, CEO of Twitter and co-founder and CEO of Square, speaks during the crypto-currency Bitcoin Convention 2021 at the Mana Convention Center in Miami, Florida, on June 4, 2021.
Marco Bello | AFP | Getty Images
Square plans to buy Australian fintech Afterpay as it looks to expand into the growing market of installment loans. Payment company Jack Dorsey announced on Sunday evening a $ 29 billion deal. The price marked a premium of about 30% at the closing price of Afterpay on Friday. Shares of Afterpay in Australia closed nearly 19% higher on Monday. Square shares fell 4% in Monday’s premarket trade in the U.S. Afterpay allows customers to pay in four interest-free installments and pay a fee if they miss an automated payment. Square also announced his results of the second quarter Sunday, before his expected release before Wednesday.
– The Associated Press contributed to this report. Follow all the market action like a pro CNBC Pro. Get the latest news on the pandemic with CNBC coronavirus coverage.