Stock market today: Indexes rise ahead of busy week for earnings, economic data, and Fed

A Fed meeting, the July jobs report, and a wave of earnings reports will drive the stock market this week.

• US stocks rose as investors anticipate key economic data and earnings results this week.
• The July jobs report and Federal Reserve's FOMC meeting will influence interest rate policy.
• Major companies like Apple, Microsoft, and Amazon will release second-quarter earnings results this week.

US stocks edged higher on Monday as investors prepare for a big week ahead filled with important economic data and earnings results.

The July jobs report is set to be released on Friday, with economists expecting 190,000 jobs being added to the economy and the unemployment rate remaining unchanged at 4.1%.

The jobs report will help inform the Federal Reserve's interest rate policy going forward, as the Fed balances a steady economy with falling inflation.

The Fed's FOMC meeting is scheduled for Wednesday, with most investors expecting interest rates to stay unchanged, according to the CME FedWatch Tool.

"Even if rates don't change, the rhetoric should offer key clues to the degree to which the group is concerned about economic growth and whether they deem inflationary conditions," strategist Steve Sosnick of Interactive Brokers said last week.

Investors are instead expecting a 100% chance that the Fed cuts interest rates at its September FOMC meeting.

Finally, it's a big week for earnings results, with about 34% of S&P 500 companies set to release their second-quarter results this week. Some of the biggest companies including Apple, Microsoft, and Amazon will report results this week.

Of the 41% of S&P 500 companies that have already reported second-quarter earnings, 81% beat profit estimates by a median of 5%, while 59% beat revenue estimates by a median of 3%, according to data from Fundstrat.

Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:

• S&P 500: 5,466.85, up 0.1%
• Dow Jones Industrial Average: 40,482.31, down 0.3% (107 points)
• Nasdaq composite: 17,436.22, up 0.5%

Here's what else is going on today:

• These are the 10 best performing stocks of all time, according to a recent research paper.
• The rise of AI could force 12 million people to change their jobs in the coming years.
• The recent rise of de-dollarization is a fad that will backfire on countries, according to currency experts.

In commodities, bonds, and crypto:

• West Texas Intermediate crude oil was up 0.03% to $77.19 a barrel. Brent crude, the international benchmark, declined 0.07% to $81.07 a barrel.
• Gold was higher by 0.41% to $2,390.80 per ounce.
• The 10-year Treasury yield dropped three basis points to 4.16%.
• Bitcoin rose 2.06% to $69,659.