The Fed is about to cut rates to protect the economy, even though most signs are strong

The Fed is expected to cut its fed funds target rate by a quarter point Wednesday, in a move seen as preventative by economists.

The July jobs report is expected Friday, and it should show solid job growth of 170,000, according to Refinitiv.

Nearly a third of the S&P 500 companies report in the week ahead, including Apple, GM, Merck, and Procter and Gamble.