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

<p>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&#39;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&#39;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&#39;s IPO lockup expiration and the stock&#39;s surprisingly calm reaction, Peloton&#39;s first profitable fiscal year paired with a cautious outlook, renewed overnight geopolitical tension pushing oil higher, and Fundstrat&#39;s Tom Lee predicting a continued rally toward 7,900 to 8,000 on the S&amp;P 500 this month. This episode is for informational purposes only and does not constitute financial, investment, legal, or tax advice.</p>