Stocks Diverge in August as Key Earnings and Economic Data Await

Stocks diverged at the start of August, with the S&P 500 dropping 0.3%, the Dow Jones Industrial Average up 0.2%, and the Nasdaq Composite slumping 0.4%. Mixed earnings reports from companies like Caterpillar, Pfizer, and Uber contributed to the mixed sentiment. The job market also showed signs of cooling as job openings fell to their lowest level in over two years. The focus now turns to upcoming earnings reports from Apple and Amazon, as well as key data releases, including the US jobs report. In other news, Tesla is facing an investigation by the National Highway Traffic Safety Administration over complaints of loss of steering control, and JetBlue and Alaska Air issued weaker guidance, causing their stocks to decline. Oppenheimer Asset Management raised its year-end price target for the S&P 500, citing strong data readings on the US economy.