Traders on the floor of the New York Stock Exchange, June 25, 2021.

Source: NYSE

Friday’s jobs report could be a catalyst that helps determine whether markets are volatile or will trade like it’s the quiet dog days of August.

More than a quarter of the S&P 500 report earnings in the coming week. The calendar includes companies in sectors such as consumer staples, insurance, pharma, travel and media. From Booking Holdings to ViacomCBS, Wayfair and Kellogg, investors will be watching to see what companies say about reopening activity, supply chain disruptions and rising costs.

“I think as much as 85% of the companies which are reporting earnings mentioned inflation on their earnings calls,” Franklin Templeton Fixed Income chief investment officer Sonal Desai said. “Inflation may not be a problem to policymakers and financial markets, which seem not to be concerned at all. It does seem to bother the people who have to buy stuff or people…

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