Don’t just focus on the ups and downs of the stock market this week. The real keywords for this week are just three: Jobs, Fed, AI. 1️⃣ Starting the month with Manufacturing PMI and JOLTS. PMI tells us whether U.S. manufacturing is still expanding, while JOLTS shows how tight the labor market is. Right now, the market isn’t as sensitive to the data itself but rather how the data will influence rate expectations. 2️⃣ If jobs remain strong, the market will worry about the Fed staying hawkish. If jobs suddenly weaken, it might be short-term bullish for rate cut trades, but it could also spark concerns about an economic slowdown. The ideal scenario? A moderate cooling. Midweek, keep an eye on the Beige Book and Fed speeches. The Beige Book isn’t the most exciting document, but it’s important because it tells the market whether the U.S. economy is running hot, cold, or starting to diverge across regions. Combine that with Fed officials’ speeches, and the market will reassess the policy path for September. 3️⃣ There’s also a tech storyline this week: Broadcom earnings. $AVGO is a critical player in the AI supply chain. The market will focus on demand for AI custom ASICs, networking chips, VMware integration progress, and next quarter’s guidance. If Broadcom delivers strong guidance, the AI narrative will get a boost. If the guidance falls short, the market might start questioning the growth trajectory of the AI hardware sector. So this week isn’t just a simple “non-farm payroll week”—it’s a mix of macro and tech setting the market’s direction. I’ll be watching three key questions: - Is the labor market really cooling? - Is the Fed still pushing back on rate cut expectations? - Can AI earnings continue to prove demand is strong? The point of the calendar isn’t to gamble on every data release. It’s to know in advance: which days are likely to amplify volatility, and which events could shift the flow of capital. Jobs determine rate expectations, Broadcom determines AI sentiment, and the Fed determines whether the market dares to keep betting on risk assets.