Markets enter Wednesday, August 5, 2026, with several scheduled releases that together will provide a concentrated update on labor market trends, services-sector momentum and weekly shifts in U.S. energy inventories. The combination of the ADP private payrolls estimate, S&P Global and ISM services PMIs, and the Energy Information Administration crude oil numbers creates a lineup of indicators that investors and traders regularly use to gauge the current state of the economy and short-term directional risks for equities, fixed income and commodity markets.
Below is a rundown of the principal releases and the precise readings markets will be watching on the day.
Major Economic Events to Watch
- 7:15 AM ET - ADP Nonfarm Employment Change (Forecast: 68K, Previous: 98K) - This private-sector payrolls measure tracks monthly changes in non-farm employment using payroll records from about 400,000 U.S. business clients. It is widely observed as an early indicator ahead of the government employment report.
- 8:45 AM ET - Services PMI (Forecast: 53.6, Previous: 51.2) - The S&P Global Services PMI surveys more than 400 private-sector service company executives across transport, communication, financial services, business services, computing, hotels and restaurants. Readings above 50 signify expansion in the sector.
- 9:00 AM ET - ISM Non-Manufacturing PMI (Forecast: 54.5, Previous: 54.0) - This composite index assesses overall conditions in the non-manufacturing economy and aggregates business activity, new orders, employment and supplier deliveries based on responses from over 370 purchasing executives spanning 62 industries.
- 9:30 AM ET - EIA Crude Oil Inventories (Previous: -7.167M) - The weekly change in commercial crude oil barrels held by U.S. firms is released by the Energy Information Administration. Movements in these stockpiles can influence petroleum prices and inform short-term inflation expectations.
Other Important Releases and Subcomponents
In addition to the headline items above, the calendar lists several related indicators and underlying components that market participants routinely parse for nuance in the data.
- 8:45 AM ET - S&P Global Composite PMI (Forecast: 53.6, Previous: 51.9) - This measure combines manufacturing and services survey data to give an early picture of private-sector activity.
- 9:00 AM ET - ISM Non-Manufacturing Employment (Previous: 51.2) - The employment component within the ISM services survey, where readings above 50 denote expansion in services hiring.
- 9:30 AM ET - EIA Weekly Cushing Oil Inventories (Previous: -0.771M) - The reported change in barrels stored at Cushing, Oklahoma, the delivery point for the West Texas Intermediate benchmark.
Additional Economic Data on the Schedule
A range of mortgage-market metrics from the Mortgage Bankers Association and multiple other EIA energy sub-reports are slated for release, offering a more granular view of credit and petroleum market flows. The scheduled items are listed with their previously reported values below.
- 6:00 AM ET - MBA 30-Year Mortgage Rate (Previous: 6.76%) - The average fixed 30-year mortgage lending rate for 80% loan-to-value loans.
- 6:00 AM ET - MBA Mortgage Applications (Previous: -6.4%) - Weekly change in new mortgage applications as compiled by the Mortgage Bankers Association.
- 6:00 AM ET - MBA Purchase Index (Previous: 159.8) - All mortgage applications for single-family home purchases, serving as an indicator of near-term home sales activity.
- 6:00 AM ET - Mortgage Market Index (Previous: 247.2) - A broad measure covering all mortgage applications during the week, including conventional, government, fixed-rate and adjustable-rate loans.
- 6:00 AM ET - Mortgage Refinance Index (Previous: 723.1) - Tracks all applications to refinance existing mortgages and provides a gauge of refinancing activity.
- 9:00 AM ET - ISM Non-Manufacturing Business Activity (Previous: 55.4) - The business activity component of the ISM services report, showing month-over-month changes in activity levels.
- 9:00 AM ET - ISM Non-Manufacturing Prices (Previous: 67.7) - The prices paid component of the ISM services survey, which signals inflationary pressure within the services sector.
- 9:00 AM ET - ISM Non-Manufacturing New Orders (Previous: 55.1) - The new orders component that measures demand for services-sector goods and services.
- 9:30 AM ET - EIA Weekly Distillates Stocks (Previous: 1.062M) - Inventory levels of distillate fuel oils, used to assess demand for diesel and heating oil.
- 9:30 AM ET - Gasoline Inventories (Previous: 0.007M) - Weekly change in commercial gasoline barrels held in inventory, with implications for pump prices and inflation.
- 9:30 AM ET - EIA Weekly Heatoil Stock (Previous: 0.308M) - Weekly change in heating oil inventory levels.
- 9:30 AM ET - EIA Refinery Crude Runs (Previous: 0.271M) - Measures crude oil input into refineries, providing context on refining throughput.
- 9:30 AM ET - EIA Weekly Refinery Utilization Rates (Previous: 1.1%) - The percentage of refinery capacity being used during the reported week.
- 9:30 AM ET - EIA Weekly Crude Imports (Previous: -0.237M) - Weekly change in crude imports into the United States.
- 9:30 AM ET - EIA Weekly Gasoline Production (Previous: 0.178M) - Weekly change in gasoline output at U.S. refineries.
- 9:30 AM ET - EIA Weekly Distillate Fuel Production (Previous: 0.015M) - Weekly change in distillate fuel production, including diesel and heating oil.
- 3:05 PM ET - Fed Governor Cook Speaks - Federal Reserve Governor Lisa Cook is scheduled to deliver remarks that market participants may review for additional color on the monetary policy outlook.
Traders and analysts will likely compare the headline prints to their forecasts and prior readings to assess momentum in services activity, the level of hiring in the private sector, and near-term directional signals in energy markets that can feed into inflation expectations. Each of the listed items provides a piece of the overall economic picture for the day, and short-term market reactions may reflect how incoming data align with or diverge from consensus projections.
For those tracking developments in real time, the economic calendar provides the full schedule of release times and the associated consensus forecasts and prior values.