As stocks head into mid-August, the market continues to hold onto the ground gained since hitting bear market lows in June. The Morningstar U.S. Market Index ended the most recent week up 0.6% from the previous week and is up 13.6% from its June 16 low.

Employment data is much stronger than expected, with nonfarm payrolls rising by 528,000 in July, more than double estimates of 250,000. Unemployment fell to 3.5%, bringing it back to levels before the pandemic.

Shares in the communications technology and services sector were the source of the market’s largest gains. The energy and real estate sectors fell the most last week.

Strong earnings results from tech companies boosted their stocks, including ride-hailing companies Uber (UBER) and Lyft (LYFT). Meanwhile, falling oil and gas prices have triggered a sell-off for many companies in the oil and gas industry.

Next week will bring more profits to companies in cyclical segments of the market, including entertainment, like Disney (SAY) and fox (FOX)and travel and leisure companies.

Investors will also be keeping a close eye on upcoming inflation figures when the July Consumer Price Index report is released on Wednesday, August 10. following July’s strong jobs report.

Economists expect the report to show inflation has peaked, which in June hit 9.1% year-on-year, a 41-year high. Estimates show that inflation increased by 0.2% in July, which means an inflation rate of 8.7% for the last 12 months ending in July, which would be a 40-year high.

Events scheduled for the coming week include:

• Tuesday: Hyatt Hotels (H)Intercontinental Hotels (IHG)and Norwegian Cruise Line (NCLH) report earnings.
• Wednesday: update of the consumer price index for July. Walt Disney, Roblox (RBLX)and Coinbase (PIECE OF MONEY) report earnings.
• Thursday: update of the producer price index for July.

For the trading week ending August 5:

• The Morningstar US Market Index rose 0.6%.
• The best performing sectors were Technology, up 2.6%, and Communication Services, up 2.0%.
• The worst performing sectors were energy, down 6.6%, and real estate, down 1.7%.
• Yields on the 10-year US Treasury rose from 2.64% to 2.84%.
• WTI crude oil prices fell 10.2% to $88.5 a barrel.
• Of the 854 U.S.-listed companies covered by Morningstar, 468, or 55%, were up and 386, or 45%, were down.

Which stocks are rising?

Last week’s top performers were Bed Bath & Beyond (BBBY)Alnylam Pharmaceuticals (ALNI)Coinbase, Cloud Flare (REPORT)and Lyft.

Ride-sharing companies Uber and Lyft both rallied following positive revenue news. Shares of Alnylam Pharmaceuticals rose on positive results from a study of its heart disease drug.

Technology and communications services companies lead all industries. Narrow-moat Cloudfare, which jumped 46.4% over the week, and Atlassian (CREW) both beat profits.

Coinbase shares also surged following the announcement of a partnership with BlackRock to increase bitcoin accessibility for institutional customers, The Wall Street Journal reported.

Which stocks are down?

The worst performing companies last week were Ball Corporation (BALL)I-MAB (IMAB), APA Corp. (APP)Syneos Health (SYNH) and main laboratories (CLNC). Earnings below expectations sent investors away from several stocks.

Packaging and container company Ball Corporation exceeded sales expectations, but earnings were disappointing due to weaker demand. Shares of Core Laboratories continued their decline after missing both revenue and earnings below expectations.

Oil and gas stocks fell after crude prices fell 10.2% for the week, closing below $90 a barrel for the first time since February 10. Among the worst performers were Patterson-UTI (PTEN)and Helmrich & Payne (HP).