{"id":66124,"date":"2026-08-07T08:08:17","date_gmt":"2026-08-07T12:08:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-digest-us-jobs-rebound-spacex-upgrade-and-middle-east-defense-pact\/66124\/"},"modified":"2026-08-07T08:08:17","modified_gmt":"2026-08-07T12:08:17","slug":"global-markets-digest-us-jobs-rebound-spacex-upgrade-and-middle-east-defense-pact","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-digest-us-jobs-rebound-spacex-upgrade-and-middle-east-defense-pact\/66124\/","title":{"rendered":"Global Markets Digest: US Jobs Rebound, SpaceX Upgrade, and Middle East Defense Pact"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>US non-farm payrolls are projected to rise by 80,000 to 100,000 in July<\/strong>, signaling a modest recovery from June\u2019s soft reading of 57,000.<\/li>\n<li><strong>Argus Research upgraded SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) to Buy from Hold<\/strong> with a $160 price target, citing robust revenue growth and strong operational performance.<\/li>\n<li><strong>PPL Corporation (<a href=\"\/stock\/PPL\">PPL<\/a>) reported Q2 EPS of $0.30<\/strong>, missing analyst estimates despite a 4% year-over-year revenue increase to $2.11 billion.<\/li>\n<li><strong>Saudi Arabia, Turkey, and Pakistan signed a landmark trilateral defense pact<\/strong> in Mecca, establishing a mutual defense agreement amid escalating regional tensions.<\/li>\n<li><strong>Maritime traffic in the Strait of Hormuz remains severely depressed<\/strong>, with only 2\u20138 daily transits recorded compared to a pre-war average of 130\u2013140.<\/li>\n<\/ul>\n<h2>US Labor Market Eyes Modest July Rebound<\/h2>\n<p>Economists expect the <strong>US Bureau of Labor Statistics (BLS)<\/strong> to report a gain of roughly <strong>80,000 to 100,000 jobs<\/strong> for July 2026. This follows a disappointing June print of just <strong>57,000 additions<\/strong>, which had raised concerns about a cooling economy. The <strong>unemployment rate<\/strong> is forecast to remain steady at <strong>4.2%<\/strong>, though some analysts suggest a slight risk of it edging up to 4.3% if labor participation recovers.<\/p>\n<p>Wage growth is anticipated to hold steady, with <strong>average hourly earnings<\/strong> projected to rise <strong>0.3% month-on-month<\/strong> and <strong>3.5% year-on-year<\/strong>. Analysts at <strong>Deutsche Bank<\/strong> and <strong>FactSet<\/strong> noted that while the labor market is showing stability, it lacks the &quot;heat&quot; seen in previous years. This &quot;Goldilocks&quot; scenario\u2014slow but steady growth\u2014is expected to keep the <strong>Federal Reserve<\/strong> focused on inflation data ahead of potential rate decisions later this year.<\/p>\n<h2>SpaceX Upgraded Following Strong Financial Performance<\/h2>\n<p><strong>Argus Research<\/strong> has upgraded SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) from <strong>Hold to Buy<\/strong>, setting a new price target of <strong>$160<\/strong>. The upgrade follows the company&#39;s first earnings report as a public entity, which revealed a <strong>92% year-over-year revenue surge<\/strong> to <strong>$7.8 billion<\/strong>. Despite reporting a loss of <strong>$0.09 per share<\/strong>, the figure significantly beat the consensus estimate of a $0.26 loss.<\/p>\n<p>Analyst <strong>Steven <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a><\/strong> highlighted that SpaceX&#39;s &quot;robust growth outlook&quot; outweighs concerns regarding high capital expenditure on <strong>AI infrastructure<\/strong>. The firm projects SpaceX\u2019s revenue run rate could approach <strong>$100 billion<\/strong> by the end of 2026. While the stock remains volatile due to the expiration of insider lock-up periods, Argus believes the company&#39;s rapid scaling and computing capacity growth justify a premium valuation.<\/p>\n<h2>PPL Corporation Reaffirms Guidance Despite Q2 Miss<\/h2>\n<p>PPL Corporation (<a href=\"\/stock\/PPL\">PPL<\/a>) announced second-quarter results that fell short of Wall Street expectations. The utility provider reported <strong>adjusted earnings of $0.33 per share<\/strong>, missing the analyst consensus of <strong>$0.37<\/strong>. Total operating revenues reached <strong>$2.11 billion<\/strong>, a 4% increase from the prior year but below the estimated <strong>$2.19 billion<\/strong>.<\/p>\n<p>Despite the quarterly miss, PPL reaffirmed its <strong>full-year 2026 ongoing EPS guidance<\/strong> of <strong>$1.90 to $1.98<\/strong>. CEO <strong>Vincent Sorgi<\/strong> emphasized the company&#39;s continued execution across its regulated portfolio and highlighted <strong>$10 billion to $12 billion<\/strong> in potential investment opportunities tied to data center development in Pennsylvania and Kentucky through 2032.<\/p>\n<h2>Geopolitical Shifts: Mecca Defense Pact and Maritime Stalls<\/h2>\n<p>In a major shift in Middle Eastern security architecture, <strong>Saudi Arabia, Turkey, and Pakistan<\/strong> signed the <strong>&quot;Mecca Joint Defence Agreement&quot;<\/strong> on Friday. The pact stipulates that an armed attack on any one of the three nations will be treated as an attack on all. This alliance brings together Saudi oil wealth, Turkey\u2019s NATO-standard military industry, and Pakistan\u2019s nuclear capabilities to counter rising regional threats.<\/p>\n<p>Simultaneously, <strong>MarineTraffic<\/strong> and <strong>Kpler<\/strong> data indicate that maritime activity in the <strong>Strait of Hormuz<\/strong> and <strong>Bab el-Mandeb<\/strong> remains at historic lows. Only <strong>eight confirmed crossings<\/strong> were recorded in the Strait of Hormuz on Friday, a 33% daily decline. Most vessels are now following a <strong>unilateral Iranian routing scheme<\/strong>, as the internationally recognized Traffic Separation Scheme (TSS) remains largely abandoned due to the ongoing conflict.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US non-farm payrolls are projected to rise by 80,000 to 100,000 in July, signaling a modest recovery from 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