06:08 AM EDT, 08/04/2025 (MT Newswires) -- US equity investors will focus on ISM services and the views of top Federal Reserve officials, following ultra-weak job market data that preceded President Donald Trump's announcement to replace the head of the Bureau of Labor Statistics.

* In addition, high up on investors' priority list will be trade tariffs and quarterly earnings.

* The ISM Services PMI for July is due Tuesday, the most significant data point after Friday's shock non-farm payrolls that led to Trump announcing his intention to replace BLS Chief Erika McEntarfer.

* The economy is on the precipice of recession, Moody's Analytics Chief Economist Mark Zandi said on X, formerly Twitter, on Sunday. "Consumer spending has flatlined, construction and manufacturing are contracting, and employment is set to fall. And with inflation on the rise, it is tough for the Fed to come to the rescue."

* "One possibility is that incoming data may further increase the tension on the dual mandate," creating an increased dispersion of opinions on appropriate policy, a Macquarie note said Friday.

* Other data due this week includes international trade and jobless claims.

* Fed speakers on tap this week include Atlanta Fed President Raphael Bostic and Fed Governor Lisa Cook. Fed Governor Michelle Bowman, one of the two dissenters in the July policy meeting favoring an interest rate cut in September, will speak on Saturday.

* This week's earnings reports include Palantir Technologies ( PLTR ) , Uber ( UBER ) , Caterpillar ( CAT ) , Advanced Micro Devices ( AMD ) , and McDonald's (MCD).

* Trump and Canadian Prime Minister Mark Carney will likely talk "over the next number of days," a Canadian official said on Sunday, referring to tariff talks.

* US Special Envoy to the Middle East Steve Witkoff may visit Russia on Aug. 6-7, Trump reportedly said, ahead of the Aug. 8 deadline to reach a peace deal with Ukraine. Trump threatened to impose more sanctions on Russia and secondary tariffs on Russia's trade partners in the case of no deal.