Good morning!

It's a jam-packed week on Wall Street, with heavyweight earnings, A Fed meeting, and crucial unemployment numbers. Here's what's happening...

• It's the high season for Q2 earnings, with more than 1,000 companies reporting this week. This morning, reports are due from Visa, Procter & Gamble, UnitedHealth, AstraZeneca, Merck, Boeing, Spotify, and Starbucks, followed Wednesday by Microsoft, Meta (Facebook), UBS, HSBC, QUALCOMM, Arm Holdings, and ADP. Thursday earnings are up for Apple, Amazon, Mastercard, AbbVie, S&P Global, Unilever, and Anheuser-Busch, followed Friday by Berkshire Hathaway, Exxon Mobil, Chevron, Enbridge, and Colgate-Palmolive. *

• Looking beyond earnings season, all eyes are on the Federal Reserve as it kicks off its two-day policy meeting on Tuesday. While no big surprises are expected—rates will likely stay put at 4.25% to 4.50%—investors are tuning in for any hints that a rate cut could be on the table come September. Adding to the intrigue is the ongoing pressure from President Trump, who’s been vocal about his criticism of the Fed and Chair Jerome Powell. **

• The Fed’s policy meeting this week comes without one key piece of data: the July jobs report, which won’t be released until Friday. Economists are predicting a modest gain of around 106,000 new jobs, mostly from the private sector. That’s a step down from June’s stronger-than-expected 147,000 increase, which was largely boosted by a temporary spike in public-sector hiring due to seasonal quirks tied to the school calendar. What’s especially interesting is that the unemployment rate might actually dip from 4.1%—not because more people are getting hired, but according to at least one analyst could be due to fewer people actively looking for work. They point out that the shrinking labor supply is a bigger issue than many realize. If the jobless rate drops below 4%, it could rattle both the bond and stock markets, as investors reassess what it means for the Fed’s next move. ***

The financial advisors at Miramontes Capital diligently keep up with anything that can impact our clients' finances and tap into more than 175 years of combined investment experience. We do our all to keep your money protected and growing. If you think you might benefit from our financial experience and oversight, contact us today for a FREE, no-obligation consultation. Just call (800) 460-1595. Until next week...

Investment Advisory Services offered through Miramontes Capital, LLC. Securities offered through Balanced Security Planning, Inc. Member FINRA/SIPC. Miramontes Capital, LLC and Balanced Security Planning, Inc. are separate companies affiliated through common control. This newsletter is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Miramontes Capital, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Miramontes Capital, LLC unless a client service agreement is in place.