Now I have all the data I need to construct the Week Ahead Preview. Let me compile and write the full HTML post.

Week Ahead Preview — August 10, 2026

This publication is produced by Bihzuun Research for educational and informational purposes only. Nothing herein constitutes individualized investment advice or a solicitation to buy or sell any security. Past performance does not guarantee future results. All projections are subject to material uncertainty.

📅 Economic Calendar

The week of August 10–14 is one of the most data-dense of the summer, anchored by two back-to-back inflation prints — July CPI on Wednesday and July PPI on Thursday — arriving against a backdrop of a badly disappointing July jobs report. The U.S. economy shed 23,000 nonfarm payroll jobs in July, reversing the revised 20,000-job gain recorded in June and coming in well under the 34,000 average monthly gain over the preceding 12 months. That miss — economists had expected gains of 80,000–95,000 — dramatically raises the stakes for inflation data this week: a cool print opens the door to earlier Fed easing; a hot print tightens the policy bind.

Fed Communications This Week

Fed Vice Chair for Supervision Michelle W. Bowman is scheduled for a Fireside Chat discussion, and Governor Lisa D. Cook is delivering an Economic Outlook speech. Separately, the FOMC Minutes from the July 28–29 meeting will be released at 2:00 p.m. on Wednesday, August 19. Note: the next scheduled FOMC interest-rate decision is September 16, 2026. Any dovish pivot signals in the Minutes — especially commentary acknowledging the weakening labor market — could be the week’s biggest surprise catalyst beyond the CPI print itself.

The CPI Setup: Why This Print Is Pivotal

The Consumer Price Index for July 2026 is scheduled to be released on August 12, 2026, at 8:30 A.M. Eastern Time. In June, CPI fell 0.4% month-over-month and rose 3.5% over the last 12 months; the index for all items less food and energy was unchanged in June and up 2.6% year-over-year. That sharp deceleration from 4.2% in May largely reflected cooling energy prices and base effects, and has tightened trader consensus around a July reading near 3.5–3.6%. The BLS shelter component — roughly one-third of core CPI — is the primary variable to monitor, and any wage surprise could push services inflation higher. A 0.3%+ core MoM print would likely reprice rate-cut expectations lower.

Job losses in July were concentrated in local government education, which shed 50,000 positions, and retail trade, which lost 19,000 jobs. Average hourly earnings increased by just 2 cents, bringing the 12-month average down to 3.2%, below the forecast increase of 3.5% and the lowest since May 2021. The soft wage print is mildly disinflationary, but shelter stickiness could override it on Wednesday. The bond market’s reaction to CPI will set the tone for risk assets all week.

📊 Earnings Calendar

FactSet forecasts earnings for the S&P 500 grew by 47.4% in Q2 2026, which would mark the highest earnings growth rate reported by the index since Q2 2021. This week represents the final major wave of that cycle. The technology and AI-infrastructure complex dominates, with results from Cisco and Super Micro Computer on Tuesday and Applied Materials on Thursday serving as critical reads on enterprise IT spending and semiconductor capital equipment demand.

Earnings Deep Dives

Cisco (CSCO) — Tuesday AMC. The consensus EPS estimate for Cisco’s next earnings report is $1.19, and the consensus revenue estimate is $17.16B; the revenue estimate has been revised upward by 6.55% in the past three months. The bullish thesis centers on the strength of Cisco’s AI-related business, including $1.3 billion in AI orders in a single quarter and a full-year AI outlook raised to more than $4 billion. The key bear risk remains valuation: the broader discussion centers on whether the artificial intelligence infrastructure cycle can continue to drive the entire business, or if the current valuation already assumes an almost flawless execution path.

Super Micro Computer (SMCI) — Tuesday AMC. SMCI is preparing to release fiscal Q4 results after providing investors with an updated outlook pointing to a backlog exceeding $60 billion; consensus estimates project earnings of $0.96 per share, representing more than 124% growth from a year earlier, on revenue of $11.55 billion, an increase of about 101% year-over-year. Super Micro said it now expects gross margin in the range of 15%–17%, improving from its earlier forecast of 8.2%–8.4%. The margin recovery narrative is the pivotal variable; any guidance commentary on AI server component supply will echo across the semicon complex.

CAVA Group (CAVA) — Tuesday AMC. The Zacks Consensus Estimate for CAVA’s earnings is pegged at $0.17 per share, indicating a gain of 6.3% from a year ago, with consensus revenue estimated at $353.3 million, implying an increase of 25.9% from the year-ago quarter. Management noted that second-quarter same-restaurant sales trends remained in line with the strong first-quarter performance and were tracking above its raised full-year outlook. With the consumer softening (see July payrolls), CAVA’s traffic commentary will be a high-frequency read on the middle-income dining budget.

Applied Materials (AMAT) — Thursday AMC. Q2 FY2026 delivered record revenue of $7.91 billion, up 11.4% year-over-year, with net income up 31.3%, and guidance for the August report calls for roughly $8.95 billion in revenue and $3.36 in non-GAAP EPS; the company has beaten estimates in 18 of the last 20 quarters. Analysts forecast EPS of $3.39 (+36.7% YoY) on revenue of $9.01 billion (+23.4% YoY), and expect Applied to post revenue growth above estimates “amidst a strong AI expansion/investment phase for DRAM, advanced logic and packaging.” The key risk, as noted by analysts: historically AMAT has fallen an average of 2.18% on earnings day even after beats, including a 14.07% post-earnings drop last October. Watch China revenue disclosure and export-control commentary with particular care.

📈 Technical Levels

Broad Market Indices

U.S. stocks started August at record levels, supported by solid earnings including significant contribution from non-tech names; however, analysts caution that investors should “make sure before acting upon this rally as a breakout that it’s confirmed.” The critical level to watch is 7,620 on the S&P 500 — Fairlead Strategies’ Katie Stockton withholds calling it a decisive breakout until seeing “a couple of clear and consecutive closes above 7,620,” noting this sits right above the market’s previous high of 7,610 in June.

August is off to a strong start, with risk-on sentiment firmly in control; solid earnings — especially from technology companies — sent stocks sharply higher, alongside the prospect of a peace agreement between the U.S. and Iran. Small-caps, mid-caps, and transportation stocks all participated. However, falling oil prices are easing inflation concerns but Middle East developments remain a key risk, and volatility is quietly moving higher.

Current Holdings — Key Levels

The following levels are for monitoring and risk-management reference only. No new buy or sell recommendations are being issued at this time. All price references are approximate as of the August 7–8 close.