NewsWare’s Trade Talk: Monday, August 4

S&P Futures are showing positive activity this morning as markets recover from Friday negative employment report. Federal Reserve Governor Adriana Kugler resigned unexpectedly on Friday, giving President Trump the opportunity to nominate a replacement who may influence future Fed policy decisions. This development, combined with softer labor market data, has significantly increased expectations for a rate cut next month. Congress and the Senate have begun their summer recess starting today. Special Envoy Witkoff is expected to travel to Russia on Wednesday. Markets will be focused on earnings reports and expected comments from Federal Reserve officials this week. TSLA's board approved an award of 96m shares of restricted stock to CEO Elon Musk yesterday. The key economic data point for today will be the Commerce Depts Factory Orders report for June. After the bell today, earnings reports are expected from PLTR, VRTX, WMB, SPG, HIMS & BMRN.