This week marks one of the busiest of the Q2 2026 earnings season, with Palantir, AMD, and Eli Lilly reporting on consecutive days, while Friday's US jobs report could set the tone for Fed rate expectations. The July Non-Farm Payrolls report, the week's biggest macro driver, is expected to show around 87,000 jobs added, following June's 57,000 and an unemployment rate of 4.2%. A softer labor market usually pushes the Fed to cut rates sooner, but overly weak data could signal a slowing economy. Markets sit at record highs, with soft labor data adding volatility risk. The Fed held its policy stance in late July, so this week focuses on data shaping the next decision. Fed Governor Lisa Cook and San Francisco Fed President Mary Daly are scheduled to speak on Wednesday. Under new Chair Kevin Warsh, the Fed is seen as less forthcoming, so every economic release will be scrutinized more closely. Palantir reports Monday after the close, with Q2 revenue expected to jump 81% to around $1.81 billion; its shares are down about 30% in 2026. AMD follows Tuesday, with revenue expected to grow around 46% to $11.2 billion, focusing on its MI450 AI chips.