The Week Ahead: Alphabet, Amazon earnings; US jobs

Update (Tuesday, 3 February 2026): The US Bureau of Labor Statistics will not release the January jobs report on Friday 6 February as scheduled due to a partial government shutdown.

Friday, 30 January 2026: The coming week brings a heavy dose of potentially market-moving US economic data, including the ISM manufacturing and services reports, the job openings and labour turnover (JOLTS) survey, private sector employment data from payroll processing firm ADP, and – the headline event – the Bureau of Labor Statistics’ jobs report. Meanwhile, earnings season continues at full tilt, with Amazon and Alphabet* among the leading names set to report quarterly results. Across the Atlantic, the European Central Bank and the Bank of England will hold rate-setting meetings on Thursday. While economists expect the two central banks to leave interest rates unchanged, the subsequent press conferences and minutes might shed light on policymakers’ plans. The ECB is seen as being in pause mode, and the BoE is expected to cut rates later this year. Any policy signals may impact EUR/USD and GBP/USD. As long as neither central bank comes across as too “dovish” (favouring lower rates to encourage spending and stimulate growth), the euro’s and pound’s upward trajectories could continue. *Michael Kramer and his clients at Mott Capital Management own shares in Amazon [AMZN] and Alphabet – Class A [GOOGL].