Daily Briefing — August 7, 2026 | The Jobs Report That Has to Reconcile a Very Confusing Labor Market

Markets brace for the July nonfarm payrolls report after a genuinely contradictory run of recent data — record-low layoffs and weekly jobless claims sitting alongside a badly missed ADP private hiring number and soft job openings. We cover why today's release could determine whether the Fed sticks to its currently priced single rate hike or moves toward as many as three by year-end, and look back at Thursday's session, where the Dow snapped its record win streak on rising yields, a SanDisk-led chip selloff, and lingering Hormuz deal uncertainty. We also cover the final stage of SpaceX's IPO lockup expiration and the stock's surprisingly calm reaction, Peloton's first profitable fiscal year paired with a cautious outlook, renewed overnight geopolitical tension pushing oil higher, and Fundstrat's Tom Lee predicting a continued rally toward 7,900 to 8,000 on the S&P 500 this month. This episode is for informational purposes only and does not constitute financial, investment, legal, or tax advice.