Morning Business Report: Investors brace for jobs fallout, earnings reports as Boeing strike looms

Investors are bracing for continued fallout from last week’s underwhelming July jobs report.

(LILAMAX) -A lighter economic calendar doesn’t mean a quiet week on Wall Street. Investors are bracing for continued fallout from last week’s underwhelming July jobs report, while fresh earnings from major U.S. companies and a labor strike at Boeing keep markets on edge.

The Labor Department’s nonfarm payroll data showed job growth slowed significantly last month, with just 73,000 new positions added — far below economists’ expectations. The weak report triggered a market sell-off Friday and sparked a political shake-up in Washington.

In a surprise move, President Donald Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer, accusing her of manipulating jobs data to make the economy look worse. Trump says he’ll soon appoint both a new head of the BLS and a new Federal Reserve governor.

This week, the economic calendar features reports on services PMI and consumer credit, but the spotlight will likely be on earnings. Major names including McDonald’s, Walt Disney, and Eli Lilly & Co. are set to report quarterly results.

Boeing is also making headlines. Around 3,200 machinists at its St. Louis facility — where military fighter jets are made — are expected to strike today after negotiations on pay and retirement benefits broke down. Boeing says it’s prepared, with contingency plans in place to keep operations running using non-striking employees.

On the corporate side, McDonald’s is testing new drink offerings, including cold brews and refreshers, at more than 500 U.S. locations. The beverages draw inspiration from its spinoff concept, CosMc’s, which is now closing all its stores.

With volatile job numbers, a labor strike in aerospace, and big earnings ahead, investors will be watching closely as markets search for direction.