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The Labor Department is expected to report that initial claims for unemployment benefits likely rose by 2,000 to 228,000 for the week ending August 9. Continued jobless claims for the week ended August 2 are expected to fall to 1.964 million from 1.974 million previously. Meanwhile, the Bureau of Labor Statistics is set to report that the producer price index $(PPI)$ for final demand likely increased 0.2% in July, after remaining flat in June. Annually, PPI is expected to have risen 2.5%, following a 2.3% gain in the prior month. Core PPI, which excludes food and energy, is forecast to rise 0.2% month-over-month, after a flat reading in June, and to have climbed 2.9% year-over-year, compared with 2.6% previously. On Fed watch, Richmond Fed President Thomas Barkin is scheduled to participate in a webinar hosted by the National Association for Business Economics (1400/1800).Earnings-wise, Deere is expected to post a drop in third-quarter profit and revenue when it reports results. Investors will be looking for commentary on the tariff climate and any financial impacts from the levies, alongside demand sentiment for construction activity.Applied Materials is expected to report higher quarterly revenue, driven by steady demand for chipmaking equipment. Investors will be looking for commentary on how export restrictions on China by the United States could impact and if the company is leveraging AI-driven demand for its tools.Tapestry is expected to post a rise in quarterly revenue, helped by robust demand for its Coach handbags. Investors will watch out for comments on consumer spending amid a broader weakness due to tariff and inflation fears.German maker of clogs Birkenstock is expected to post a jump in quarterly revenue owing to strong demand from its loyal, high-income customers. Investors will watch for comments on tariff impact, price hikes, supply chain disruptions and demand landscape in North America and Europe.In Latin America, Brazil's service sector growth is expected to slow to 2.0% year-on-year in June from 3.6% in May, while the monthly growth is forecast to dip 0.1%, compared to a 0.1% increase in the prior month.LIVECHAT-REUTERS GLOBAL MARKETS FORUMEQUITIES WATCH with Reuters market correspondents in London and New York (1000/1400) To join the conversation, click here
(Compiled by Sameer Kulkarni; Edited by Vijay Kishore)
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